Battery News
CATL previews net income growth of up to 20% to RMB 53 billion in 2024
- CATL's net income in the fourth quarter is expected to be a record RMB 17 billion, an increase of 31.01 percent year-on-year and up 29.41 percent from the third quarter.
- CATL expects 2024 revenues to decline by 11.20 percent to 8.71 percent due to price reductions of its products in line with the decline in raw materials.
CATL expected to announce new European JV battery plant this year
CATL currently has battery plants in Germany and Hungary, and last month announced plans for a new joint venture battery plant in Spain with Stellantis.
CATL breaks ground on its 1st battery swap station in HK
FAW Hongqi's E-QM5 based on CATL's battery swap solution will be put into service as an electric cab in the Hong Kong market.
China EV battery installations in Dec: CATL share at 45.48%, BYD 23.19%
- In December, China's power battery installed capacity was 75.4 GWh, up 57.3 percent year-on-year and up 12.2 percent from November.
- For the full year of 2024, CATL ranked first with 45.08 percent share, BYD ranked second with 24.74 percent share, and CALB ranked third with 6.68 percent share.
SAIC to make battery swap-enabled models based on CATL's solution
SAIC will develop and sell battery swap-enabled models, while CATL will lead the development and iteration of battery blocks.
Svolt unveils EV battery that can charge from 10% to 80% in less than 9 minutes
- Svolt unveiled its Fengxing Short Blade Battery with a 6C charging multiplier, which it said can charge from 10 percent to 80 percent in just 8.5 minutes.
- It also unveiled its first battery built specifically for off-road models, already used in the Tank 500 Hi4-Z.
JAC EV unit to build models based on CATL's skateboard chassis
- JAC Yiwei will prioritize the adoption of CATL's CIIC-S platform for its passenger car program, which involves battery swap-enabled models, BEVs and EREVs.
- The two companies will also promote joint research and development of advanced technologies for intelligent chassis, involving thermal management, battery packs and EE architectures.
CATL signs deal with FAW Jiefang to drive electrification of commercial vehicles
- CATL and FAW Jiefang signed a deal to collaborate on product development and business model innovation.
- The two will work together to promote the accelerated development and adoption of commercial vehicle battery technology to fuel the electrification of the commercial vehicle transportation industry.
Global EV battery market share in Jan-Nov 2024: CATL 36.8%, BYD 17.1%
CATL and BYD continued to hold the top two positions as the world's largest battery makers in January-November, with the former's share unchanged from January-October and the latter increasing slightly.
SAIC-GM-Wuling starts EV battery production in Indonesia
- Wuling called the battery Magic Battery, saying the project took only 4 months and a half from startup to production.
- Magic Battery is an EV battery developed in-house by Wuling, integrating the latest battery technologies, it said.