Battery

By the end of this year, an eVTOL powered by CATL batteries is expected to make its maiden flight, the battery maker's chairman said.

In the short term, CATL aims to have more than 500 battery swap stations by 2025 and 3,000 by 2027.

Ganfeng plans to set up a joint venture in Turkey, which plans to invest $500 million to build a lithium battery project with an annual capacity of 5 GWh in Turkey.

CATL's first experience center opened today, bringing together nearly 100 models from about 50 automotive brands it ramps up its engagement with consumers.

CATL's share increased by 2.24 percentage points in July compared to June, while BYD decreased by 2.49 percentage points.

CATL and BYD continued to hold the top two positions as the world's largest battery makers in the first half of 2024, both increasing their share slightly from January-May.

Demand for power batteries in China was steady overall in July, but battery material costs continued to fall, resulting in a slight downward trend in battery cell prices, TrendForce said.

CATL invested hundreds of millions of dollars in Autoflight, the first known CATL investment in an eVTOL maker.

CATL saw second-quarter profit rebound from the first quarter, while gross margin remained flat.

The offshore fund will help CATL finance the corporate ecosystem needed to expand production in Europe and other foreign markets, according to the Financial Times.