BUSINESS

CATL Plans $4 Billion Mining Unit to Stabilize Supply

Published: Apr. 16, 2026 6:19 p.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

Contemporary Amperex Technology Co. Ltd. (CATL) (300750.SZ) plans to invest 30 billion yuan ($4.4 billion) to establish a new subsidiary focused on securing upstream mineral resources, as the world’s largest maker of electric vehicle (EV) batteries reported a nearly 50% jump in first-quarter profit.

The massive upstream investment highlights the Chinese battery giant’s strategic push to control critical raw materials like lithium and nickel, safeguarding its supply chain against price volatility as global demand for EVs and artificial intelligence data centers surges.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to Save an extra $50. Introductory offer for new readers. Subscribe now.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

CATL Q1 2026 net profit: 20.7B yuan (+48.5% YoY), revenue 129.1B yuan (+52.5% YoY).
Plans 30B yuan ($4.4B) subsidiary for upstream minerals like lithium/nickel; hires Zijin Mining founder as advisor.
42.1% global EV battery usage share (up 3.4pp); #1 in China power/storage batteries.

AI generated, for reference only

Who’s Who

Contemporary Amperex Technology Co. Limited: Contemporary Amperex Technology Co. Limited (CATL, 300750.SZ) reported Q1 2026 net profit of 20.7 billion yuan (up 48.5% YoY) on revenue of 129.1 billion yuan (up 52.5%). Plans 30 billion yuan investment in a subsidiary for upstream minerals like lithium/nickel. Holds 42.1% global EV battery share.

Zijin Mining Group Co. Ltd.: CATL has appointed Chen Jinghe, founder and former chairman of Zijin Mining Group Co. Ltd., as an advisor to expand its mining operations and secure upstream resources like lithium and nickel.

SNE Research: SNE Research, a South Korean research firm, reported CATL's 42.1% global EV battery usage share in the first two months of 2026 (up 3.4 points YoY). On April 7, it upgraded its global new-energy vehicle penetration forecast to 29% in 2026 (from 27%) and 35% in 2027.

AI generated, for reference only