CATL

Apple requires potential battery suppliers to have a production base in the US, the report said, adding that CATL is reluctant to build a plant in the US because of tensions between China and the US.

CATL is a supplier to Nio, Xpeng Motors, and Li Auto, and has a 100 kWh battery pack line built in partnership with Nio.

CATL and Great Wall Motor will leverage their strengths to create a highly synergistic competitive advantage and drive technological advancement in new energy vehicles.

CATL received Volkswagen battery cell test lab certification on June 1, making it the first battery manufacturer in the world to receive this certification.

CATL's sales almost quadrupled to 21.4 GWh, further cementing the company's position as the world's largest maker of batteries for electric vehicles.

CATL rose about 5% to RMB 429.9 as of 10:19 a.m. Beijing Time, breaking above its January 8, 2021 high to a new all-time high and putting its market cap above RMB 1 trillion.

Lithium-ion batteries are still the mainstream technology route for power batteries, and the application scenarios for sodium-ion batteries may mainly focus on energy storage, low-speed new energy vehicles, and small power fields.

CATL said the company is able to make samples of solid-state batteries, but the indicators show there is still a long way from commercialization.

The strategic importance of sodium batteries as a technology reserve and to ensure China's energy security should be valued, but their commercial value should not be overestimated.

Robin Zeng, the founder of Nio and Tesla's battery supplier CATL, said Friday that the company will release sodium-ion batteries around July this year.