CATL’s First-Half Profit Jumps 42% on Energy Storage Tailwind

Contemporary Amperex Technology Co. Ltd. posted a 42% increase in first-half profit as the world’s largest electric-vehicle battery maker benefited from robust demand for energy-storage systems.

Net income climbed to 43.3 billion yuan ($6.4 billion) in the six months ended June, according to a filing Friday. Revenue rose 55% to 277 billion yuan, highlighting CATL’s leading role in the clean energy transition.

While EV batteries still account for most of CATL’s revenue, energy storage is becoming a bigger contributor to earnings. The business accounted for 19% of first-half revenue, up from 16% a year earlier.

Global battery makers increasingly rely on energy storage to offset slower growth in EVs. Utilities are adding battery systems to support renewable power, while artificial intelligence-driven data centers are emerging as another source of demand.

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