CATL, the world’s largest electric vehicle battery manufacturer, recorded a 42 percent year-on-year increase in net profit in the first half of the year. The growing global demand for energy storage products is the main reason for this good performance. This profit growth has made up for the falling profits caused by fierce competition in the electric vehicle battery market, showing that the company’s business adjustment is effective.
In the first six months of 2026, CATL’s total business revenue grew 54.8 percent year on year to 276.9 billion yuan, with a net profit of 43.28 billion yuan. The energy storage business achieved the best performance among all sectors. Its revenue rose 87.54 percent annually to 53.26 billion yuan, gradually becoming a key driving force for the company’s development, together with its traditional electric vehicle battery business.
Around the world, more countries are developing clean energy, which greatly promotes the energy storage industry. As wind and solar power are widely used, energy storage equipment is needed to keep the power grid stable. In particular, Europe’s large-scale green industrial plan has greatly increased local demand for energy storage. With solid technology and complete supply chain support, CATL has maintained the world’s highest shipment volume of energy storage batteries and gained plenty of overseas orders.
The electric vehicle battery market is now saturated. Fierce price competition has continuously lowered corporate profits. In contrast, the energy storage market is still expanding and brings better returns. However, CATL still faces many difficulties. Strict local production policies in the EU have increased its overseas operating costs, and more competitors are challenging its leading position. In the future, CATL will expand its energy storage production scale and adjust its global layout to maintain its advantages in the global carbon neutrality trend.
| Indicator（指标） | Figure （数值） | Year-on-Year Change （同比变化） |
|---|---|---|
| Total Operating Revenue（总营收） | 276.9 billion yuan | +54.8% |
| Net Profit（净利润） | 43.28 billion yuan | +42% |
| Energy Storage Business Revenue（储能业务营收） | 53.26 billion yuan | +87.54% |
