CATL profits outpace major Chinese automakers in Q1 2026

Chinese battery maker CATL reported a net profit of about 20.74 billion yuan (roughly US$3 billion) for the first quarter of 2026, an increase of 48.5% year‑on‑year. Its revenue reached 129.13 billion yuan, giving it a profit margin that exceeded the combined Q1 earnings of seven leading Chinese car manufacturers—BYD, Geely, Chery, SAIC, Great Wall Motor, Seres and Changan—which together posted roughly 17.5 billion yuan.

During the same period CATL’s battery installations in China hit 59.52 GWh, lifting its domestic market share to 46.4% and its global share to 40.1%, according to SNE Research. The company supplies batteries to a wide range of automakers, allowing it to benefit from scale advantages and to remain insulated from the intense price wars that are squeezing car‑makers’ margins.

CATL’s dominant position in the battery value chain is seen as a key factor in the electrification of vehicles, with the firm expanding partnerships beyond China, including with Turkey’s Togg, and maintaining leadership despite the gradual phase‑out of subsidies in the Chinese EV market.