Catl invests in overseas energy storage projects

How much EV batteries did CATL sell last year?

CATL sold $40 billion worth of EV batteries last year, up from $33 billion a year earlier. Hitting Zeng’s goal for electric grids of tenfold revenue growth would put the battery maker on par with state oil giants Sinopec and PetroChina (601857.SS), China’s largest companies.

Could CATL help a data center get green energy?

"That's huge compared to EVs," he said. The grids, and CATL management systems, could serve AI companies scrambling to secure green energy for data centers. CATL would partner with providers of solar panels and wind turbines, Zeng said.

Is CATL outpacing EV-battery business?

CATL’s energy-storage business grew 33% last year, outpacing its EV-battery business. But Zeng sees a much bigger opportunity for CATL by supplying green-grid systems including solar and wind power, dedicated storage and a smart system to draw power from parked EVs.

Why is CATL launching a battery plant in Europe?

The plants are part of a CATL plan to make batteries in Europe for automakers such as BMW, Stellantis and Volkswagen. Zeng said CATL's European business is important in part because the region has prioritized the clean-energy transition. But he called the EU decision to impose tariffs of up to 45.3% on Chinese EV imports "stupid thinking."

What is CATL doing with CMOC group?

CATL plans a pilot project in the Democratic Republic of the Congo with CMOC Group (603993.SS), the Chinese mining company in which it holds a stake. The company is also working with Hainan, an island province off China's southern coast, on a larger, longer-term project that would combine energy storage with solar and offshore wind turbines.

Will CATL make batteries in Europe?

The plants are part of a CATL plan to make batteries in Europe for automakers such as BMW, Stellantis and Volkswagen (VOWG_p.DE). Zeng said CATL's European business is important in part because the region has prioritized the clean-energy transition.