Chinese battery giant CATL hit by profit slowdown as EV headwind fears grow

Chinese battery giant CATL hit by profit slowdown as EV headwind fears grow

Chinese battery giant Contemporary Amperex Technology Limited (CATL) has recorded a surprise slowdown in third-quarter net profits, as analysts warned the company could be hit by slowing demand from China’s electric car industry next year. The world’s largest electric vehicle battery maker posted a net profit of 21.25 billion yuan (US$3.18 billion) for the July-September period, up 14.54 per cent from a year earlier, according to an exchange filing on Tuesday. The increase marked a sharp...