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☆ Chinese EV battery maker CATL expects Q3 profit to nearly triple
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Oct 11 (Reuters) - CATL (300750.SZ), a Chinese electric vehicle (EV) battery giant, forecast its net profit in the July-September quarter to nearly triple from a year-ago period, buoyed by rapid expansion in production to power the growth of EVs worldwide. The company is the world's biggest battery maker and accounts for more than a third of global EV battery sales. CATL, a supplier to U.S. carmaker Tesla Inc (TSLA.O), expects its third-quarter net profit to increase to between 8.8 billion yuan ($1.23 billion) and 9.9 billion yuan, up from 3.3 billion yuan last year, CATL said in a stock exchange filing late Monday. Register now for FREE unlimited access to Reuters.com RegisterIt expects net profit for the first nine months of the year to more than double from a year-ago period. The Chinese firm announced in August that it would build a $7.6 billion battery plant in Hungary, Europe's largest so far.

☆ Betting on flexibility, China's Nio will only rent cars in new EU markets
▼ + stars: | 2022-10-07 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

Chinese Nio electric car is seen at Nio's first European plant and power swap station in Biatorbagy, Hungary, September 16, 2022. Prices range from around 50,000-70,000 euros ($49,000-$69,000), depending on the car's range and whether customers buy or rent the battery. Nio will stick to direct sales in existing markets in part due to less attractive taxation on subscription models in Norway and restrictions around licence plates in China, Li said. "The advantage of our business separating the car from the battery is that we may reach economies of scale for the batteries faster than the cars," Li said. "In the long-run we believe any top company in the automotive industry will soon have in-house battery production," Li said.

☆ China's industrial profit declines accelerate in Jan-Aug
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterPedestrians cast their shadows on a wall at a construction site in Beijing December 12, 2014. REUTERS/Kim Kyung-Hoon/BEIJING, Sept 27 (Reuters) - Profits at China's industrial firms shrank at a faster pace in January-August, as strict COVID restrictions and a deepening property slump weighed on domestic demand and heatwaves curbed factory activity. read moreChina's industrial output rose 4.2% from a year earlier in August, quickening from a 3.8% rise in July. Liabilities at industrial firms jumped 10.0% from a year earlier in August, slightly slower than the 10.5% growth in July. ($1 = 7.1584 Chinese yuan)Register now for FREE unlimited access to Reuters.com RegisterReporting by Liangping Gao, Ella Cao and Ryan Woo; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ China's CATL, a Tesla supplier, considers expanding battery swapping business overseas
▼ + stars: | 2022-09-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

CATL is the world's largest electric vehicle battery maker and supplier to the likes of Tesla and Ford. The world's largest electric vehicle battery maker CATL is evaluating whether to expand its battery swapping business to international markets, a senior executive told CNBC. In January, the Chinese battery manufacturer launched its battery swapping business called EVOGO in China across 10 cities. Instead, drivers can rent battery packs from CATL and put them into the car when their other battery runs out. Li Xiaoning, executive president of overseas commercial application at CATL, told CNBC in an interview on Thursday, that the company is also evaluating expansion of its battery swapping product into Europe.

☆ China's Xpeng says CATL is no longer its largest battery supplier
▼ + stars: | 2022-09-21 | by ( Olivier Sorgho | ) www.reuters.com time to read: +2 min

REUTERS/Mike Segar/File PhotoSHANGHAI, Sept 21 (Reuters) - Xpeng (9868.HK) has diversified its battery suppliers and no longer counts industry giant CATL (300750.SZ) as its primary supplier, the Chinese electric car maker's president said on Wednesday. "We have already diversified our battery supplier arrangement. CATL is no longer our largest material supplier. We actually have worked with several high-quality battery suppliers, for example, EVE, CALB," Gu said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Zhang Yan and Brenda Goh; Editing by Lisa ShumakereOur Standards: The Thomson Reuters Trust Principles.

☆ China's Nio takes on BMW, Mercedes in home market with flexible battery plan
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +4 min

Nio’s battery swap stations also promise to send drivers out with a new, fully-charged battery in just a few minutes, faster than current charging alternatives. In China, Nio set up a company with partners including battery giant CATL to buy the battery packs for leasing and then collect subscription fees from Nio users. Over the past year, Nio has been experimenting with battery leasing and swapping in Norway for its ES8, an electric-drive SUV. The company has sold 800 of the SUVs and installed two swapping stations in Norway, executives said. Nearly all the buyers in Norway and more than half in China have opted for battery leasing, said Shen Fei, Nio's vice-president for power management.

☆ A Tesla executive says battery supply has improved so much that the company can buy all the cells it needs for the first time in years
▼ + stars: | 2022-09-12 | by ( Alistair Barr | ) www.businessinsider.com time to read: +2 min

Electric-vehicle makers have struggled for years to secure enough battery supply — but these woes are over at Tesla, for now. Tesla uses about 90% of its battery-cell supply for its electric vehicles and roughly 10% for its energy-storage products, Viecha said. He said Tesla expanded the number of its suppliers in recent years from just Panasonic to multiple battery makers, including CATL and LG Chem. Indeed, Viecha said Monday that the EV industry would grow only as fast as battery supplies could grow. "If the industry can 10X from here, the supply chain will need to 10X as well," Viecha said.

The deal includes a commitment from PPES that ioneer's lithium will be used to build EV battery parts inside the United States for the U.S. EV market. "The whole purpose of this agreement is for this lithium to be used in the United States," James Calaway, ioneer's executive chairman, told Reuters. The amount of lithium that ioneer will supply PPES is enough to make batteries for about 150,000 EVs annually, though that figure would vary depending on design and other factors. Australia-based ioneer aims to produce about 21,000 tonnes of lithium in Nevada annually starting in 2025. It signed a supply deal with Ford Motor Co (F.N) in mid-July and last year with South Korea's Ecopro Co (086520.KQ).

În ultimele câteva săptămâni, echipa împreună cu directorul general, au studiat resursele și au intervievat mai multe talente și profesioniști din industrie. Bineînțeles, e încă prea devreme să vorbim despre producerea unui electrocar. "Dacă producătorii de automobile nu pot produce mașini bune, OPPO are forțe și resurse s-o facă", a declarat directorul companiei, Tony Chen. Potrivit sursei, dl Chen deja s-a întâlnit cu reprezentanții Tesla și cu furnizorul de baterii CATL. Oficial, compania încă nu și-a confirmat intențiile de a produce vehicule electrice.

Persons: Tony Chen ., Chen, Tesla

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