People walk past the booth of the battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) at the Auto Shanghai show, in Shanghai, China April 18, 2023.
CATL reports quarterly results on Thursday, and investors will be on the look out for the extent the world's largest EV battery maker bore the brunt of the EV sales slowdown in China and rising pressure from automakers to cut battery prices.
"This... is an incentive for CATL to offer some price cuts to secure its market share."
CATL's setback also comes amid weakening EV sales in China that stoked an intense price war among automakers and a subsequent cost reduction pressure on battery firms and other suppliers.
Shares in Shenzhen-listed CATL dropped 15% so far this year, lagging a 6% drop in broader market (.CSI300).
Persons:
Aly, Qiaoyi Li, Zhang Yan, Brenda Goh, Miyoung Kim
Organizations:
Amperex Technology, ., Auto, REUTERS, Rights, Electric, EV, Citi, China Automotive Battery Innovation Alliance, HK, LSEG, Ford, Thomson
Locations:
Auto Shanghai, Shanghai, China, Rights BEIJING, Michigan, U.S, Shenzhen