Contemporary Amperex Technology Co. Ltd. (CATL), the world's largest electric-vehicle (EV) battery maker, anticipates a net profit surge of up to 48.1% in 2023, reaching as high as $6.3 billion, despite challenges from slowing demand and intense competition. This positive outlook is driven by robust sales, with CATL being given approval to invest $1.83 billion in its first offshore wind power project. Additionally, the EV market is showing resilience and growth, with a 29% increase in US EV sales in Q4 and the anticipation of 24 new all-battery-powered vehicles launching in the US in 2024, representing a nearly 50% increase in available models. Kia, aiming for 50% annual growth in global EV sales, has surpassed Hyundai in market value with the rollout of affordable EVs.
Kia, which says it's expects 50% annual growth in global EV sales this year with three new more afford electric models coming soon, sees its market value surpass Hyundai for first time. https://t.co/xcuFOFUazO
Kia surprisingly tops Hyundai in market value with affordable EVs rolling out https://t.co/M1OP6myIrt by @EVPeteJohnson
Meanwhile, in the real world. Study of EV sales in 20 key markets shows sales rose 28% in 2023 https://t.co/zx1za7LAHL
Contemporary Amperex Technology Co. Ltd. (CATL), the world’s biggest maker of electric-vehicle batteries, has been given the green light to invest 13 billion yuan ($1.83 billion) in building its first offshore wind power project. https://t.co/jM9bSV3ZR2
🗞️ Despite some carmakers trimming production of EVs at the end of last year, 24 all-new all-battery-powered vehicles are expected to launch in the US in 2024, representing a nearly 50% increase in available models. https://t.co/LBTWRSbcte https://t.co/wqq8RnGRXt
US EV Sales Climbed 29% In Q4 https://t.co/gqCDhGfYrs
CATL Says 2023 Profit as High as $6.3 Billion on Strong Battery Sales https://t.co/ebfG105t0P
China EV maker CATL expects weaker earnings growth for 2023 https://t.co/0wlGeo97cT https://t.co/zZXc22OKbC
The world’s biggest maker of electric-vehicle batteries CATL says preliminary net income for 2023 would be as high as $6.3 billion thanks to robust sales https://t.co/MbMwPvIxyJ
⚠️ CHINESE EV BATTERY GIANT CATL EXPECTS 2023 EARNINGS TO JUMP BY UP TO 48% (Reuters) Chinese electric vehicle (EV) battery giant CATL on Tuesday forecast net profit growth of up to 48.1% in 2023, despite a year marked by slowing demand and stiff competition. CATL expects 2023… https://t.co/mscLKNAjE1