CATL posts $3 bn Q1 profit, beating combined earnings of China’s top EV makers

China’s leading battery producer Contemporary Amperex Technology Co. Ltd (CATL) reported net profit of 20.7 billion yuan (about $3 billion) in the first quarter of 2026. This single‑quarter profit exceeds the combined net profit of the seven largest Chinese electric‑vehicle manufacturers, which together earned roughly 17.5 billion yuan.

CATL’s revenue reached 129.13 billion yuan ($17.9 billion) and the firm captured 46.4% of China’s EV‑battery market, installing 59.52 GWh of capacity in Q1. The company maintained strong growth despite the gradual removal of government EV subsidies, expanded joint ventures with Geely and SAIC, and advanced a nationwide battery‑swap infrastructure. Chairman Robin Zeng cautioned that solid‑state battery production remains years away, keeping CATL’s lithium‑ion cells as the dominant technology for now.