CATL’s earnings strength will help in an uncertain 2025. International growth looks more two-paced between China and the rest of the world while an increasing number of automakers are easing up on their electric transitions. A broader US trade and tariff war with neighboring countries, traditional allies and foes could have far reaching implications.
Contemporary Amperex Technology (CATL) posted record annual earnings for 2024, the strong financials further evidence of its commanding market position at a time some rivals are faltering.
The world’s biggest maker of electric vehicle batteries posted a 15% rise in net income to 50.7 billion yuan ($9.37 billion) for the 12 months ended Dec 31, 2024, according to a statement Friday. Analysts had expected a profit of 51.5 billion yuan. Sales fell 9.7% to 362 billion yuan, worse than analysts estimates for 372 billion yuan.
