Tesla supplier CATL reports positive Q2 results
Tesla supplier CATL (Contemporary Amperex Technology Co.) reported increased net income for the second quarter.
Bloomberg calculated that the Chinese battery supplier’s profit increased by 13.4% to $1.7 billion in the second quarter, beating analyst estimates. CATL’s net income rose 10.4% to 3.1 billion in the first half of the year.
CATL’s performance in Q2 2024 means it remains the number one battery supplier worldwide. As of May 2024, the China-based company held a market share of 37.5% globally. In China, CATL holds a 45% market share.
However, it wasn’t all good news for CATL in the second quarter. The company’s revenue fell 13.2% to $12 billion in Q2 2024. For the first half of the year, its performance saw a 12% drop to $1 billion.
Tesla China has partnered with CATL since the beginning of Giga Shanghai production. Tesla will likely continue to contribute significantly to the battery supplier’s success. In March, Morgan Stanley analyst Adam Jonas deemed Tesla and CATL the power couple that could recharge the United States electric vehicle market.
“In our view, this will require a degree of ‘westernization’ of Chinese tech to be palatable in the US given the rising protectionist sentiment (both in the US and Europe). At the same time, China is experiencing an over-supply in EV batteries and is seeking a conduit to offload (‘off-ramp’) supply via export opportunities,” Jonas commented in a note.
If you have any tips, contact me at maria@teslarati.com or via X @Writer_01001101.
The post Tesla supplier CATL reports positive Q2 results appeared first on TESLARATI.
Source: https://www.teslarati.com/tesla-catl-q2-2024-net-income-increase/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Lion’s Mane Mushroom Nootropic
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.
Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.
Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.
Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.
Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Online: | |
| Visits: | 1,625,570,275 |
| Stories: | 8,213,277 |
Whistler Blowers, Insiders
