CATL

CATL's battery installations in China in February were 6.57 GWh, accounting for 48.02 percent market share, down from 50.24 percent in January.

CATL has a strong ability to secure supply, but rumors of production cuts show that the industry as a whole is facing cost pressures, local media said.

The heavy trucks are powered by CATL's lithium iron phosphate batteries, which support both high-power fast charging and quick battery swaps in 3-5 minutes.

The project, with a total floor area of about 350,000 square meters, will be completed and operational within one year.

CATL's share of the ternary battery market was 57.17 percent in January, and 44.6 percent in the LFP battery market.

While there are other players who will rely on low prices to compete for market share, CATL has the lowest costs and highest reliability of supply, it said.

Nine former CATL employees joined two affiliated companies of Svolt Energy, and CATL believes that the individuals violated their non-compete agreements, according to local media.

A series of malicious rumors about CATL being sanctioned by the US, being removed from the ChiNext index, and failed negotiations with Tesla have sparked market misunderstandings, it said.

Although the rumor did not spread widely, CATL shares traded in Shenzhen plunged 6.66 percent at the close of trading.

CATL's share of the global power battery market reached 32.6 percent in 2021, up 8 percentage points from 24.6 percent in 2020.