CATLs sales to Tesla were RMB13 billion (~USD2 billion), accounting for 10% of CATLs total revenue in 2021. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. EVE Energy is only a minor player with a moderate production capacity, but CATL will need to continuously compete on price and projects with the other Chinese player. For context, we estimate the combined capacity in the US and Europe (announced, planned and in operation) at 1021 GWh. The Panasonic share price had been hit hard after Elon Musk said in September 2020 that Tesla would bring in-house the manufacturing of bigger lithium-ion battery cells[21]. Given growing supply, Goldman Sachs sees spot prices of lithium carbonate, a precursor to the compound used in making lithium-ion batteries, sinking to $34,000 a tonne in the next 12 months, from . CATL holds significant and long-term battery supply contracts with major auto OEMs, including BMW, Daimler, PSA and VW. Over 26 months, the planned land area of the project is about 1,900 mu. Apple has made building manufacturing facilities in the United States a condition for potential battery suppliers. Q3 2022 operating results consistent with company expectations; full-year total spending guidance at the low end of the $715 million to $790 million range. Click here to submit a Letter to the Editor, and we may publish it in print. The advent of solid-state batteries would cut the recharging time for electric vehicles by two-thirds to circa 10 minutes and would extend the driving distance of a compact electric vehicle while maintaining legroom[15], [16]. With a market share of 32.6% in 2021, CATL is the biggest lithium-ion battery manufacturer for EVs in the world, producing 96.7 GWh of the global 296.8 GWh, up 167.5% year on year. In 2020, CATLs Lithium-ion battery sales totaled 46.84GWh, up 14.36% Y-o-Y. The central government encouraged cities to relax car permit quotas complemented by strengthening targeted New Energy Vehicle measures in 2020. ET by Barron's Autos NIO Stock Slumps After Short-Seller Questions Battery Sales. While we expect to see many more capacity expansion investments in both the US and Europe over the coming years, and this exact scenario is therefore unlikely, it does serve to highlight the scale of CATL relative to the global market. Heres the next step in their evolution, Champ: The history of titling and the cost of human error. The gigafactory will boast a capacity of 100 GWh[22]. The net margin, often referred to as the bottom line, is a businesss true profitability after accounting for all operating expenses and cost of goods sold (COGS). The. Sign up and get the best of Automotive News delivered straight to your email inbox, free of charge. Investors expect CATL to thrive in the future market. To learn more about our EV and battery market analysis, complete our contact form and we'll be in touch shortly to discuss the best options for you and your business. Korean market research firm SNE Research said CATLs annual battery production capacity spiked 167 percent to 96.7 gigawatt hours in 2021. The headquarters are located in Ningde in Fujian Province. This enables CATL to procure battery materials and production sites at better prices with its economies of scale which translates into lower battery cell/pack costs for its customers. [email protected]. Get full access to all features within our Business Solutions. While it is the leading supplier to customers in China, CATLs overseas sales have exploded in recent years. About Panasonic Group . Use Ask Statista Research Service. Chart. Magna to purchase a commercial fleet of 15 vehicles which we will deliver in December 2022. Caterpillar is committed to ensuring our workplace is diverse and representative of the many customers we serve around the globe. CATL views the technology as a tool to mitigate supply-side constraints for critical metals in LiB variations such as lithium, nickel, cobalt and manganese, which are less abundant and costlier to extract, process and refine in comparison to sodium. Cat hats, boots, shoes, bags, models, phones, watches and so much more. The move towards LFP batteries will on the one hand decrease Teslas supply chain risk as LFP batteries do not require any bottleneck resources (nickel and cobalt) and on the other hand increase the number of Teslas sourcing channels overall. We use cookies and browser capability checks to help us deliver our online services, including to learn if you enabled Flash for video or ad blocking. Heres what you need to know. CATLs upstream supply chain is heavily anchored within China and the firms growth is heavily intertwined with Chinas economic development. February 15, 2023. The popular discussions on solid-state batteries have brought development both in academia and industry. "We remain committed to our strategy for long-term profitable growth, which is yielding strong results, and to living our Values in Action. What is happening in China is more important for the EV market growth prospects than what is happening in Europe or America. The average price of CATLs electric vehicle battery pack fell to 30.7 USD/kWh in 2020, with a reduction of 8.6% year to year, 12,9% short of the 2019 year to year price decrease. In, Website (Gasgoo China Automotive News). Diversity & Inclusion Caterpillar is committed to ensuring our workplace is diverse and representative of the many customers we serve around the globe. As a result, we expect annual capex of CNY20 billion-45 billion in 2021-2024. All rights reserved. Our latest articles and views onindustries, regions, and topics. As of December 31, 2021, the total assets of CATL were approximately 307.667 billion yuan, an increase of 96.44% from the end of 2020. CATL has recently made considerable investments to extend its supply chain control and secure raw material supply. Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. Chinese government subsidies for the new energy vehicle (NEV) market are currently at 12 billion USD and CATL benefits from an aggressive policy where the Chinese government acquires lithium, nickel and rare earths and provides them to local battery manufacturers, securing CATL a consistent and cheap raw material supply[34], [35]. Consumer demand remains strong. CATL's sales to Tesla were RMB13 billion (~USD2 billion), accounting for 10% of CATL's total revenue in 2021. articles a month for anyone to read, even non-subscribers! It is worth noting that in 2021, the sales revenue of CATL power battery system will be 91.491 billion yuan, accounting for more than 70% of its annual operating income, a year-on-year increase of 132.06%, and it is the main revenue source of Ningde era. The primary strategy appears to be to build capacity and resilience in their local market by expanding those regionalised supply chains. One can expect that the number of electric vehicles that are sold per year increases exponentially until 2028. This cooperation with Apple offers great potential for CATL to secure future growth and integrate themselves long term within the US market[11]. The gross profit for EV battery, energy storage battery, and battery material are 22%, 28.5%, and 25.1%, respectively. While it might seem that we are not confronted with the metaverse Auto-generated video transcript: Meritor 2019 Summary Annual Report and 10-K 4.3 MB. An electric car factory run by a Chinese company, Nio, in Hefei, China. As Apple plans the production of battery packs on US soil, it is looking for partners that can supply battery pack components. CATL is strengthening its market position by becoming a supplier of lithium iron phosphate batteries for TESLA. On the evening of April 21, the 2021 financial report released by CATL showed that during the reporting period, the company's operating income was about 130.356 billion yuan, a year-on-year increase of 159.06%; the net profit attributable to shareholders of the listed company was about 15.931 billion yuan, a year-on-year increase of 185.34%. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). In August 2021, reports emerged that CATL is considering acquiring a minority stake in the Chinese miner. Will solid-state batteries disrupt the battery industry? Specifics on cathode chemistry are not often readily available. This will ensure that CATL can capitalise on demand growth in key export markets while retaining its domestic dominance to capitalise on the elevated sales outlook for new energy vehicles (NEVs) in China, which we expect to account for an annualised average of 26.0% of global EV sales between 2021-2030. CATL has emerged as one of the biggest winners of the electric car boom, along with Tesla. Details: CATL expects to report a 2021 net profit attributable to shareholders of between RMB 14 billion and RMB 16 billion ($2.2 billion to $2.5 billion), an increase of up to 195.5% from RMB 5.6 billion a year earlier, according to a Thursday announcement (in Chinese). Current Chinese and EU politics impact the EV markets. Source: CATL official WeChat account press release) Shareholders -Listed on Shenzhen Stock Exchange (As of December 31, 2021) Products Annual report 2020. CATL , the world's largest electric vehicle (EV) battery manufacturer, reported a 23.6% drop in the first quarter profit on Friday, its first fall in two years, as it battles soaring raw material . 9th Annual B2B Report Webinar Register Now 9th Annual B2B Report Webinar. Our teams are dedicated to connecting you with what you need, quickly, efficiently, and professionally. CATL. Supply chain bottlenecks in Nickel and Cobalt have already made it increasingly difficult to hold up with demand. As of the close on April 21, the share price of CATL was reported at 409.11 yuan per share, a slight increase of 0.52%, and the total market value was 953.575 billion yuan. Resilient battery suppliers such as CATL, LG Chem and Yunnan Enjie will profit from these imminent shortages[10]. CATLs total assets (cash, investments and everything that the business owns that can be liquidated into cash) have been steadily increasing over the last four years. Meet some of our key peopleand explore our credentials. Panasonic Holdings Corporation. Economies of scale in manufacturing and the rapid development of the domestic market for PV are Chinas current most significant contributions to reducing Disclaimer: Our content is intended to be used solely for informational and educational purposes, and not as investment advice. Annual Reports and Form 56-1. Who We Are What We Do Sustainability Corporate Governance . The energy density of the company's LFP mass-produced cells has reached up to 200Wh/kg, and the second-generation battery system without thermal diffusion has been approved by several foreign domestic customers, according to the annual report. Toyota has secured over 1000 patents involving solid-state batteries[19]. In total, CATL reports production capacity of 69.1 GWh for 2020 (74.8% utilized) with an additional 77.5 GWh under construction. The company added that its operating cost between January and June 2022 . The net profit rose by 185% y-o-y to RMB15.9 billion (~USD2.45 billion). China produces 72% of the worlds lithium-ion battery cells today and if you want to take advantage of the massive electric vehicle revolution, it is critical to understand the Chinese market and its most prominent players in the industry, such as CATL. In August 2021, the Shenzhen listed (SZSE) battery-cell producer announced that it was planning a USD9.0bn private share placement to fund six projects aimed at boosting its LiB production capacity. CATL is the world's largest EV battery manufacturer. Website (Gasgoo China Automotive News). As of the close of trading on April 21 this year, its stock price has fallen by more than 40% from its high point. Contemporary Amperex Technology Co. Ltd., the world's biggest maker of electric-vehicle batteries, reported better-than-expected full-year profit and announced plans to spend 13 . To inform and empower current and future business leaders by providing the insights, knowledge and connections they need to thrive in a rapidly changing industry. 48207-2997, Automotive News Always do your research and consider your personal circumstances before making investment decisions. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. Moreover, the firm has continued to collect more cash from customers than it has spent on expenses throughout the last years. CINCINNATI, May 05, 2021 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ: WKHS) ("Workhorse" or "the Company"), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last mile delivery sector, announced today that it has entered . It shows that CATL is able to effectively control its costs and provide goods at a price significantly higher than its costs.CATL is on par with Panasonic and outperforms Lg Chem and Samsung SDI when it comes to its return on equity. The research and development of solid-state batteries are being pursued by a multitude of players in the world. Former CATL Directors & Associate Directors; Our Mission; Consultations; Programs & Grants. You need at least a Starter Account to use this feature. Then you can access your favorite statistics via the star in the header. Details of Directors, Executive, Controlling Person, Person in charge of Finance and Accounting, Head of Controller and Company Secretary . Find the company's financial performance, revenue, and more. Enclosure 1. There are big jobs to be done worldwide, and that work is powered by our people. Stock Slumps After Short-Seller Questions battery sales totaled 46.84GWh, up 14.36 % Y-o-Y to RMB15.9 billion ~USD2. 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