CATL's Q1 profit surpasses combined earnings of China’s top seven automakers

In the first quarter of 2026, Chinese battery giant CATL reported a net profit of 20.7 billion yuan (about 15.7 billion reais) and revenue of 129.13 billion yuan, outpacing the combined net profit of seven major Chinese carmakers—BYD, Geely, Chery, SAIC, GWM, Seres and Changan—which together earned roughly 17.5 billion yuan. The company installed about 60 gigawatt‑hours of batteries in China during the period, maintaining a 46.4% share of the domestic EV‑battery market.

The same performance was highlighted in European coverage, which translated the figures to roughly €2.9 billion net profit on €18 billion revenue, again exceeding the combined €2.4 billion profit of the same group of automakers. CATL’s results underline the growing profitability of battery suppliers relative to vehicle manufacturers amid intense price competition in China’s electric‑vehicle sector.