Mar 16, 2024 05:38 PM
BUSINESS
CATL Full-Year Income Jumps Even as EV Demand Slows
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Photo: Bloomberg
(Bloomberg) — Contemporary Amperex Technology Co. Ltd. posted full-year net income that beat estimates as the world’s biggest battery maker for electric vehicles successfully fended off rivals while benefiting from a slump in input costs.
Net income for 2023 was 44.12 billion yuan ($6.13 billion), up 44% year-on-year, against estimates of 43.7 billion yuan. The Chinese juggernaut reported fourth-quarter earnings of 13 billion yuan and revenue of 106.2 billion yuan.
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