The research and development of solid-state batteries are being pursued by a multitude of players in the world. All rights reserved. Shareholders' Meeting. The figures for 2016 through 2017 were taken from this article released in June 2018. The new plant would have an annual battery capacity of 40 GWh and could power about 400,000 long-range electric vehicles (EVs), the report said. In Japan, the firm is expected to build an energy storage business with an established local player that would grant it further access to non-active battery materials. To learn more about our EV and battery market analysis, complete our contact form and we'll be in touch shortly to discuss the best options for you and your business. Understand Caterpillar at a glance through resources including our Caterpillar fact sheet, our corporate profile, and more. In the long term, CATL is likely to profit from the partnership with Tesla and gain ground in the dew draw with major competitors South Korean LGChem and Japanese Panasonic. In August 2021, the Shenzhen listed (SZSE) battery-cell producer announced that it was planning a USD9.0bn private share placement to fund six projects aimed at boosting its LiB production capacity. . Caterpillar Reports Fourth-Quarter and Full-Year 2021 Results Fourth-quarter 2021 sales and revenues up 23%; full-year sales and revenues up 22% Fourth-quarter 2021 profit per share of $3.91; adjusted profit per share of $2.69 2021 profit per share of $11.83; adjusted profit per share of $10.81 CATL is the fastest-growing provider of EV batteries worldwide. Construction, mining, energy and rail. Tesla, Ford and VW have plans to manufacture their own batteries for electric vehicles. We leverage our expertise and partnerships to provide in-depth and insightful reports. Details: CATL expects to report a 2021 net profit attributable to shareholders of between RMB 14 billion and RMB 16 billion ($2.2 billion to $2.5 billion), an increase of up to 195.5% from RMB 5.6 billion a year earlier, according to a Thursday announcement (in Chinese). It is understood that CATL has launched in-depth cooperation with Tesla, Hyundai, Ford, Mercedes-Benz, Great Wall, Ideal, Weilai and other car companies in terms of power batteries. As of 2021, there is a huge battery cell supply shortage and with Teslas ambitions for long-range trucks, this shortage will continue into the future[27]. ChineseAlpha is not liable for any losses that may arise from relying on information provided. Read & discuss the latest China news, their effects on stock prices, and get in touch with other investors in the ChineseAlpha community by joining our group on Telegram. Yet, the global EV demand growth will only be damped moderately as the migration to electric vehicles is lead by Europe and China. Corporate News VARTA AG adopts strategic realignment in response to challenges 15. Consumer demand remains strong. The popular discussions on solid-state batteries have brought development both in academia and industry. CATL , the world's largest electric vehicle (EV) battery manufacturer, reported a 23.6% drop in the first quarter profit on Friday, its first fall in two years, as it battles soaring raw material . The net profit rose by 185% y-o-y to RMB15.9 billion (~USD2.45 billion). The 2018 figure was published here and the 2019 was published here. 2020-21 Annual Report The annual report contains information about the Programs and Services offered by the CATL team during 2020-2021, organized according to CATL's Objectives. Website (Gasgoo China Automotive News). Haig Partners: Dealership consolidation trends, Haig Partners: Dealership valuation trends, Haig Partners: Dealership succession planning, Ally: Navigating the future of automotive retailing, Google: How a century-old brand is transforming the auto industry. In 2020, CATLs Lithium-ion battery sales totaled 46.84GWh, up 14.36% Y-o-Y. In comparison, the European Unions existing policies and regulations are being maintained and countries like France and Germany announced increased support measures towards electric vehicles for 2020 and beyond[5]. CATL Annual Report, 2020-2021; CATL Annual Report, 2019-2020; CATL Annual Report, 2018-2019; CATL Annual Report, 2017-2018; CATL Annual Report, 2016-2017; Center for the Advancement of Teaching & Learning; About Us. ", Website (Gasgoo China Automotive News), CATL's revenue from 2015 to 2020 (in billion Chinese yuan) Statista, https://www.statista.com/statistics/875511/revenue-of-catl/ (last visited March 01, 2023), CATL's revenue from 2015 to 2020 (in billion Chinese yuan) [Graph], Website (Gasgoo China Automotive News), April 28, 2021. Copyright 2023 Fitch Solutions, Inc., Fitch Ratings, Inc. and their subsidiaries, account for an annualised average of 26.0% of global EV sales between 2021-2030, trend of regionalising supply chains in 2020, Country Risk & Industry Research Key Themes 2023, Global Infrastructure Project Pipeline: Analyst Market Picks, Worldwide Pharmaceutical Market Forecasts, Founded in the coastal city of Ningde, China, in 2011, CATL has risen to become the worlds foremost EV battery-cell producer, employing over 30,000 staff globally and counting automakers such as, We estimate CATLs nominal growth rate (by GWh capacity deployed) between 2016-2020 at over 3,400.0%, more than double that of its closest competitor, South Koreas. In total, we have over 20 sources to cross-verify. CATL has recently made considerable investments to extend its supply chain control and secure raw material supply. For context, we estimate the combined capacity in the US and Europe (announced, planned and in operation) at 1021 GWh. CATLs sales to Tesla were RMB13 billion (~USD2 billion), accounting for 10% of CATLs total revenue in 2021. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Stocks Dragged Down by Tech as Yields Stay Higher: Markets Wrap, The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal. Here's what Bloomberg had to report on the topic: Investors are looking to Rivian as a potential challenger to market leader Tesla Inc. Fitch Solutions / Autos / China / Fri 12 Nov, 2021. Always do your research and consider your personal circumstances before making investment decisions. It is worth noting that in 2021, the sales revenue of CATL power battery system will be 91.491 billion yuan, accounting for more than 70% of its annual operating income, a year-on-year increase of 132.06%, and it is the main revenue source of Ningde era. New strategic partnerships are in the CATLs pipeline. Sales of power battery systems are the company's main source of revenue, contributing RMB 91.49 billion last year, up 132.06 percent year-on-year. We expect CATL to continue to invest in production sites and integrating elements of the local supply chains in Europe. BYD to take on Mercedes-Benz G-Class with 1st model of F brand, report says, China NEV insurance registrations for week ending Feb 26: BYD 39,473, Tesla 10,705, NIO 3,357, NIO has started construction of its battery plant phase 1, report says, NIO says F1 plant running normally after rumors of production halt swirl, NIO reports record Q4 revenue, but falls short of expectations, BYD posts 193,655 NEV sales in Feb, up 28% from Jan, NIO delivers 12,157 vehicles in Feb, up 43% from Jan, Zeekr delivers 5,455 vehicles in Feb, up 75% from Jan. Chart. CATL, whose clients also include Volkswagen (VOWG_p.DE), General Motors (GM.N), BMW (BMWG.DE) and Daimler (DAIGn.DE) as well as Chinese. 2019. Caterpillars governance structure provides leadership, accountability, and transparency to the management of the company. To use individual functions (e.g., mark statistics as favourites, set - Net profit hit CNY 4.5 billion, representing a 131.5% growth. High quality-No complaint! Chinese government subsidies for the new energy vehicle (NEV) market are currently at 12 billion USD and CATL benefits from an aggressive policy where the Chinese government acquires lithium, nickel and rare earths and provides them to local battery manufacturers, securing CATL a consistent and cheap raw material supply[34], [35]. As a Premium user you get access to background information and details about the release of this statistic. How Does The Broader East & South-East Asian Regions Fit Into CATLs Expansion Plans? In 2021, CATL's lithium-ion battery sales were 133.41 GWh, up 184.82 percent year-on-year, with power battery system sales of 116.71 GWh, up 162.56 percent year-on-year. About Panasonic Group . https://www.electrive.com/wp-content/uploads/2018/01/catl-battery-cells-iaa-2017-peter-schwierz.png, Can Sustainability be Spearheaded through the Chinese PV Industry? Annual report 2020. Fundamental company data and analyst estimates provided by FactSet. In 2020, despite the COVID-19 epidemic, CATL still achieved above industry average operating revenue and net profit. However, while. In total, CATL reports production capacity of 69.1 GWh for 2020 (74.8% utilized) with an additional 77.5 GWh under construction. When it comes to Europe, CATLs main concern is local politics that incentivize near-sourcing and especially the automotive industry in Germany is home to several of CATLs key customers. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. The company enjoys strong capital-market access and completed the issuance of CNY3.0 billion of five-year onshore bonds in January 2020 and a CNY19.7 billion equity placement in July 2020[31]. Use Ask Statista Research Service. Meet some of our key peopleand explore our credentials. Sign up and get the best of Automotive News delivered straight to your email inbox, free of charge. Provides financial information as auditors report of Samsung SDI. As soon as this statistic is updated, you will immediately be notified via e-mail. For standard LiBs, reports indicate that CATL primarily utilises the Lithium Nickel Cobalt Manganese Oxide (NMC) cathode chemistry which has a good energy density and by extension vehicle range. Chinese firm says lithium inflation adding price pressures, Manufacturer investing $2 billion in new Xiamen factory. The electric vehicle battery market is moderately fragmented. CATL Might Build a Factory in Mexico, Report Says. Then you can access your favorite statistics via the star in the header. Download 2021 Annual Report Download PDF Sustainability We're committed to building a better, more sustainable world. Education OrientedOur Chinese stock analyses are tailored to educate our readers on business fundamentals, industry, financials, and macroeconomics, broken down into easy-to-understand and straightforward concepts.Trusted SourcesWe disclose our all sources as we are committed to full transparency. Enclosure: Annual Report 2021 (Form 56-1 One Report) Documents. Source: CATL official WeChat account press release) Shareholders -Listed on Shenzhen Stock Exchange (As of December 31, 2021) Products While granular details on existing capacity are not readily available, industry service electrive estimated CATLs production capacity at around 110 GWh in 2020, and indicates that the firm is looking to expand that global capacity to 230 GWh in 2021, 370 GWh in 2022, 540 GWh in 2023, 830 GWh in 2024 and 1,200 GWh in 2025. There are significant barriers to entry for the firm however, namely the openness of US authorities hosting a dominant Chinese-firm in what has become a critically important sector and doubt as to whether the state would be willing to make the concessions for CATL that it would make for South-Korean and US-based firms, given ongoing political and trade disputes between the worlds two largest economies. Expert analysis of opportunities and risks across emerging and frontier markets. CATLs strategic vision is to utilize electrification and intelligentization to realize integrated innovation of market applications, utilize EV batteries to replace mobile fossil energy and utilize renewable energy generation and energy storage to replace stationary fossil energy[6]. We invest our time in peer-reviewing all articles from a bottom-up and top-down approach. Statement of Changes in Beneficial Ownership. The firms yearly income expenses, the amount of interest that the company has paid on its borrowed money, has more than quadrupled in 2019 and 2020 compared to 2018 and 2017. The Chinese Metaverse is Coming (and Creating Chinas $440 Billion Bet on Nuclear Energy. This high P/E ratio indicates that investors are willing to pay a higher share price today because of growth expectations in the future. Copyright 2022 Rho Motion. Lower oil prices resulting from the COVID-19 crisis could reduce demand for electric vehicles in the United States as they undermine the comparative advantages of EV over standard combustion cars. Find the company's financial performance, revenue, and more. Browse over 2,000 research reportsat the Fitch Solutions Store. CATL has secured a spot in Teslas supply chain and is the first to provide the electric vehicle market leader with LFP (lithium iron phosphate battery) packs. CATLs battery pack prices continue to fall, albeit at a slower pace as in the preceding years. Paired with the current aftermath of production dropouts due to Covid19 in the last months, original equipment manufacturers are desperate to satisfy electric car demand and are willing to pay a premium to battery manufacturers, who can still deliver[9]. Source: FactSet, Markets Diary: Data on U.S. Overview page represent trading in all U.S. markets and updates until 8 p.m. See Closing Diaries table for 4 p.m. closing data. Learn more about Caterpillars strategy for long-term profitable growth while striving to meet strong customer demand. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. Relative to the global market, CATLs capacity (measured in GWh) is rivalled only by South Koreas LG Energy Solution. Cross-sections of electric vehicle batteries are displayed in the welcome center at the Contemporary Amperex Technology Co. headquarters building in Ningde, Fujian province, China. This slowdown has been caused by the halt in production due to the Corona Virus outbreak and scalability limitations due to raw material bottlenecks. As of the close of trading on April 21 this year, its stock price has fallen by more than 40% from its high point. Know what you need but not surewhere to find it? In Indonesia, CATL is planning to invest over USD5.0bn in the exploration of lithium and nickel projects. For more information, see ourPrivacy Policy. Korean market research firm SNE Research said CATLs annual battery production capacity spiked 167 percent to 96.7 gigawatt hours in 2021. Meritor 2020 Summary Annual Report and 10-K 2 MB. This report from Fitch Solutions Country Risk & Industry Research is a product of Fitch Solutions Group Ltd, UK Company registration number 08789939 ('FSG'). Corvus Energy. CATL has emerged as one of the biggest winners of the electric car boom, along with Tesla. CATL's 2020 annual report was released on 28 April and depicted its yearly revenue increased 9.90% Y-o-Y to RMB50.32Bn (US$7.77Bn); the company posted a 22.43% Y-o-Y increase in net profit to. Annual Reports: No, Title, File, date of registration Table Annual Reports: Title, File Table; No Title File; 18: Annual Report (2021) 17: Annual Report (2020) 16: Annual Report (2019) 15: Annual Report (2018) 14: Annual Report (2017) 13: Annual Report (2016) 12: Annual Report (2015) 11: Annual Report (2014) 10: 300750.CN | Contemporary Amperex Technology Co. Ltd. Overall, CATL has a very strong story for the next 3 5 years and buying a major battery manufacturer is a great play if the electric vehicle market growth continues on the foreseeable trajectory. 86 379 68658030. Moreover, the company reports a yield of just 51.7%, emphasizing the need to maintain a high capacity-to-sales ratio going forward. Its operating cash flow has been significantly higher than net profit since 2018. CATL's sales to Tesla were RMB13 billion (~USD2 billion), accounting for 10% of CATL's total revenue in 2021. The German automakers have deals with existing battery cell manufacturers LG, Samsung, and CATL in place[25] and in the next 10 years, VW alone plans to produce around 22 million electric vehicles between 70 new electric models, which translates to an annual capacity requirement in Europe excess of 150 GWh, with similar demands expected in Asia[26]. Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news thats vital to your business. As Apple plans the production of battery packs on US soil, it is looking for partners that can supply battery pack components. 2020. Your download link will be emailed to you shortly. CATL is the world's largest EV battery manufacturer. Haig Partners: How are dealerships being valued today? CATL released its 2021 annual report on the evening of 21stApril 2022. Its unrestricted cash and cash equivalents to short-term borrowings have a ratio of 8 to 1. Osaka, Japan - On January 19, 2022, Panasonic Corporation published the second part of its "Annual Report 2021" to complete the first part published in September 2021. The upstart's November 2021 public listing was the sixth-largest in U.S. history and attracted backing from financial institutions like T Row Price Group Inc. in addition to Amazon.com Inc. Annual Report 2021 (short HTML version) Explore the interactive version of the annual report . Annual Report. Choose your news we will deliver. 30 North Colonnade, London E14 5GN, UK. Fiscal year is January-December. Over 26 months, the planned land area of the project is about 1,900 mu. An all-time low of oil prices is on the horizon. 11,30% is a very respectable ROE for the industry. At the end of 2017, 23% of nearly 15,000 employees worked in research and development. China is the biggest market for electric vehicles worldwide and the high demand for electric vehicles in the local Chinese market combined with the international demand for CATL battery cells benefits the firms growth. Magna to purchase a commercial fleet of 15 vehicles which we will deliver in December 2022. As the biggest lithium-Ion battery producer in China, CATL is likely to fulfill a large part of Teslas new LFP battery demand, but not all. On the other hand, energy storage has become the fastest growing business segment in CATL. As of December 31, 2021, the total assets of CATL were approximately 307.667 billion yuan, an increase of 96.44% from the end of 2020. Its shares have risen some 18% this year as sales soar. The central government encouraged cities to relax car permit quotas complemented by strengthening targeted New Energy Vehicle measures in 2020. 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We highlighted the trend of regionalising supply chains in 2020, and expect CATLs strategy for its key market (China) to follow this trend, integrating as much regional upstream activity as possible. Corvus Energy. Net income for 2021 more than doubled to 15.93 billion yuan, the company said late Thursday, beating analyst estimates of 13.51 billion yuan. In addition to that, the firm makes a strong investment in research and development and the company is at the forefront of improving MNC battery chemistries and architecture. Former CATL Directors & Associate Directors; Our Mission; Consultations; Programs & Grants. CATL is tendered to supply critical parts for APPLEs planned US battery production. Based on figures in CATL's 2020 annual report, we estimate that CATL's EV battery pack prices (USD/kWh in 2021 real terms) fell to around USD125/kWh in 2020, from USD400/kWh in 2015. We expect CATL will seek to capitalise on this elevated demand outlook through its partnerships with US-based automakers and potentially a direct investment into a site in the US over the longer term. Moreover, the firm has continued to collect more cash from customers than it has spent on expenses throughout the last years. Disclaimer: Our content is intended to be used solely for informational and educational purposes, and not as investment advice. April 28, 2021. We leverage our expertise and partnerships to provide in-depth and insightful reports. In addition to robust battery demand in EV and energy storage markets, CATL attributed the profit growth to expanded battery cell production capacity and stringent cost controls. CATL holds significant and long-term battery supply contracts with major auto OEMs, including BMW, Daimler, PSA and VW.