Skip to content

World’s Biggest EV Battery Maker CATL Denies Rumor of Poor Earnings on Futures Loss

  • CATL said hedging meant impact would be ‘relatively small’
  • Reported 1.8 billion yuan first-quarter derivatives liability
Vehicle batteries at CATL headquarters in Fujian province.

Vehicle batteries at CATL headquarters in Fujian province.

Photographer: Qilai Shen/Bloomberg
Updated on

Contemporary Amperex Technology Co. Ltd., the world’s biggest maker of batteries for electric cars, has hit back at market rumors of a large futures loss that may have dented its second-quarter earnings.

“Our company’s hedging business is backed by spot trading,” Ningde, Fujian-based CATL, as the company is better known, said in a response to online questions from investors.