CATL continues to strengthen its position as one of the main beneficiaries of the electric vehicle revolution. In the first quarter of 2026, the net profit of the world's largest battery manufacturer reached 20.7 billion yuan (230 billion rubles), exceeding the combined profit of seven leading Chinese automakers.
For comparison, the total net profit of BYD, Geely, Chery, SAIC, GWM, Seres, and Changan for the same period was about 17.5 billion yuan. Chery became the leader among automakers with 4.17 billion yuan, while BYD earned 4.08 billion yuan, and Geely — 4.16 billion.
CATL's financial performance reflects its key role in the Chinese automotive industry. According to China EV DataTracker, in the first quarter, the company supplied batteries with a total capacity of 59.52 GWh to the market and occupied 46.4% of the domestic market. Despite the slowdown in EV sales after the reduction of government subsidies, CATL's share even grew by 3.47% over the year.
The company's revenue is no less impressive. In the first three months of the year, it reached 129.13 billion yuan (almost 1.5 trillion rubles). According to Chinese media, this figure exceeds the annual revenue of Li Auto, Nio, and Xpeng for the entire 2025 combined.
CATL's success is explained not only by battery production. The company is actively developing a network of fast battery swap stations, investing in new energy storage technologies, and participating in joint projects with major Chinese automakers, including Geely and SAIC.
Such high financial results coincided with cautious statements from management regarding the prospects of solid-state batteries. CATL Chairman Robin Zeng recently noted that the industry is still several years away from mass production of such batteries.
In fact, CATL is becoming for the Chinese automotive industry what the largest suppliers of engines or transmissions once were for the traditional automotive industry. Only now, the main source of profit is not cars, but the technologies that power them.
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