The Contemporary Amperex Technology Company, or CATL for short, is the largest battery maker in the world, outpacing its closest rivals by staggering margins. Of course, this Chinese firm builds stationary energy-storage systems, but the company also manufacturers huge numbers of batteries for electric vehicles, proving packs to a diverse range of automakers including BMW, Mercedes-Benz, and yes, even Tesla. With impressive scale and a roster of top-tier customers, it’s no wonder CATL’s profits are soaring.
Profits Shot Up In Q1
According to a story published by Techxplore.com, the Chinese company’s first-quarter profits increased by nearly 33 percent compared to the same time period last year. CATL’s net profits totaled nearly $2 billion, spurred on by sales that grew by 6.2 percent in the first three months of 2025 compared to the same period last year.
The financial performance of CATL is undeniably impressive, doubly so as the company faces headwinds from slowing EV demand. Another potential issue for this company is the falling price of certain battery materials including lithium carbonate. Lower consumption and increasing supply of some key components could impact profitability, something CATL warned about back in January.
Still, CATL Is The Undisputed Leader
According to analytics firm Rho Motion, CATL is the world’s largest battery manufacturer, roughly doubling the output of BYD, its closest competitor. CnEVPost.com reports that CATL had nearly 38 percent of the world’s market share in 2024. BYD, in comparison, clocked in at 17.2 percent. After that, LG Energy Solution had 10.8 percent of the market, CALB 4.4 percent, SK On 4.4 percent, and Panasonic 3.9 percent.
In 2024, CATL battery installations totaled nearly 340 gigawatt-hours, an increase of almost 32 percent compared to 2023 where the company pushed out just shy of 258 gWh of electrical energy storage capacity.
In comparison, BYD was, not surprisingly, far behind. The company installed nearly 154 gWh of capacity last year. That is an increase of more than 37 percent compared to their performance in 2023, which totaled about 112 gWh.
Despite being roughly half the size of CATL, BYD is still a massive player in the battery world. Aside from that, though, this firm also makes its own electric cars and is pushing out some revolutionary new technology. The recently announced (and currently available) Han L sedan and Tang L SUV can both DC fast charge at up to 1,000 kilowatts thanks to the new Super E-Platform, an unheard of speed for an electric vehicle. This development alone could make BYD a dominant player in the global EV world, but it could also significantly grow the firm’s battery business, making it a major threat to CATL.
Read the full article here
