Hyperdrive
CATL Revenue Surges as China’s Battery Giant Cements Lead
- Company plans to raise 4 billion yuan for Indonesia projects
- CATL earlier unveiled new cell it said may one day power jets
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Contemporary Amperex Technology Co. Ltd. reported an 83% jump in revenue that well outdid market expectations, fueled by climbing demand for cleaner vehicles and falling raw materials costs.
Sales at the world’s biggest maker of battery cells for electric cars came in at 89 billion yuan ($13 billion) for the three months ended March 31, according to an exchange statement Thursday, better than the 75.1 billion yuan forecast by analysts.