Battery maker CATL’s revenue in the first half of this year grew 156 percent year on year to 113 billion yuan (US$16.5 billion) with net profit up 82 percent to 8.2 billion yuan.
CATL’s major businesses are batteries, lithium battery materials and energy storage systems. About 70 percent of the company’s income in H1 came from power batteries.
Tesla spent 14 billion yuan on CATL batteries in H1, more than the whole of 2021.
Earlier this month, Tesla said it planned to build a second battery plant in Europe in Debrecen, Hungary. The factory is expected to be in operation by the end of this year.
