Energy · Profile from Energy Research Companion
CATL (Contemporary Amperex Technology Co., Limited)
The battery maker from Ningde, Fujian, that grew out of a consumer-battery company (ATL) in 2011 and in about a decade became the largest lithium-ion cell supplier in the world, with roughly a third or more of global EV battery installations (SNE Research, 2024–25, verify exact share) and the largest share of stationary-storage cells (~30.4% of storage shipments in 2025, SNE Research via company). In 2025 it sold ~661 GWh of batteries (~541 GWh power, ~121 GWh storage) for revenue of ~CNY 423.7bn and net profit of ~CNY 72.2bn (~$10bn) (company annual report, as reported). It is the clearest case in the energy industry of scale, chemistry choice and licensing as a strategy: it bet early on lithium iron phosphate (LFP) and cell-to-pack design when Korean and Japanese rivals bet on nickel; it supplies almost every carmaker and storage integrator; and, shut out of building factories in the United States, it is trying to enter that market by licensing its technology — first to Ford in Marshall, Michigan — while the Pentagon lists it as a "Chinese military company" and the 2025 US tax law writes rules aimed at exactly that kind of deal.
At a glance
- Founded
- December 2011 in Ningde, Fujian, as the EV and storage battery arm spun out of Amperex Technology Limited (ATL), a consumer-battery maker owned by Japan's TDK since 2005 (reported)
- Headquarters
- Ningde, Fujian, China
- Ownership / structure
- Listed: Shenzhen ChiNext (300750.SZ, since 11 Jun 2018) and Hong Kong (3750.HK, H shares since 20 May 2025). Founder and chairman Robin Zeng (Zeng Yuqun) is the largest shareholder; co-founder Huang Shilin and other early executives hold large stakes (reported, verify current percentages). Not state-owned, but deeply tied to provincial and national industrial policy
- Leadership (2026)
- Robin Zeng (chairman and CEO); vice-chairmen include Pan Jian and Wu Kai (reported, verify titles)
- Technology
- LFP and NMC cells; cell-to-pack (CTP, 2019; Qilin CTP 3.0, 2022); Shenxing fast-charging LFP (2023); sodium-ion (first generation 2021; Naxtra, 2025); TENER storage system (2024); M3P and condensed-matter cell programmes; battery-swap "Choco-swap" standard (2024–25)
- Factories (2026)
- ~772 GWh/yr nameplate capacity at end-2025, with ~321 GWh under construction (company, as reported); main bases in Fujian, Jiangsu, Sichuan, Guangdong and elsewhere in China; Europe: Arnstadt near Erfurt (Thuringia, Germany, cell production from ~end-2022), Debrecen (Hungary, ~100 GWh planned, first phase 2026 — verify), Zaragoza (Spain, LFP JV with Stellantis, ~50 GWh planned, verify); Indonesia (integrated project, verify); US: none owned — licensing only (Ford, and Ford Energy's storage cells)
- Scale
- 2025: ~661 GWh sold (+39% y/y), revenue ~CNY 423.7bn (+17%), net profit ~CNY 72.2bn (+42%), dividend ~CNY 36.1bn (~50% payout) (company, as reported). 9M 2026: revenue ~CNY 442.1bn (+56%), net profit ~CNY 64.5bn (+32%); Q3 2026 net margin ~12.9%, lowest since Q1 2024 (company via 36Kr and CnEVPost, Oct 2026)
- Signature moves (incl. failures)
- Founding from ATL (2011); the BMW Brilliance contract (2012); the Shenzhen IPO (2018); the LFP comeback and cell-to-pack, with Tesla Shanghai (2019–20); European plants (2018–26); sodium-ion (2021–26); the Ford licensing deal (2023); the Pentagon 1260H listing (2025, setback); the Hong Kong listing (2025)
9 strategic moves analysed
Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.
2011
Founding from ATL
Founding / spin-off
2012
BMW Brilliance Contract
Offtake or supply contract
2018
European Plants
Construction or commissioning / internationalisation
2018
Shenzhen IPO
Spin-off or IPO / financing
2020
LFP Comeback and Cell to Pack
Technology bet
2021
Sodium Ion Launch
Technology bet
2023
Ford Licensing Deal
Offtake or supply contract / technology licensing (route to market)
2025
Hong Kong Listing
Financing (secondary listing)
2025
Pentagon 1260H Listing
Regulatory or legal action (setback)