Gotion High-tech

The move is based on the company's confidence in its future growth prospects and to further establish a sound long-term incentive mechanism, Gotion said.

CATL shipped 33.3 GWh in the first quarter, with a 35 percent share, up from 34.4 percent at the end of February.

Gotion will supply power cell products to Geely New Energy Commercial Vehicle Group from 2022 to 2024, with an estimated total of 126,000 units.

CATL's installed base in China in March was 10.81 GWh, capturing 50.49 percent of the market share, up 2.47 percentage points from February.

LFP batteries lead ternary batteries in China for the ninth consecutive month.

BYD beat Panasonic to third place with 11.9 percent market share in January-February, while the latter ranked fourth with 10.8 percent share.

Gotion plans to issue Global Depository Receipts (GDRs) abroad and list them on the Swiss Exchange to accelerate its international strategy.

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.

LFP battery installations in China led ternary batteries for the eighth consecutive month.

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