EV Battery Maker CATL’s Net Income Soars by 185% in 2021 On Strong Demand for EV Batteries, But Warns of Rising Costs of Raw Materials

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EV Battery Maker CATL’s Net Income Soars by 185% in 2021 On Strong Demand for EV Batteries, But Warns of Rising Costs of Raw Materials

Chinese battery maker Contemporary Amperex Technology Co Ltd (“CATL”), which is Tesla’s battery supplier in China, reported a net profit on Thursday of $2.47 billion for 2021. The soaring profits are a result of growing demand for its electric vehicle batteries from global automakers. However ,the battery maker scrapped its dividend and reported weaker profitability at its battery systems division as it warned of surging raw-materials costs.

EV Battery Maker CATL’s Net Income Soars by 185% in 2021 On Strong Demand for EV Batteries, But Warns of Rising Costs of Raw Materials

2022-04-22 11:04

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