CATL Q1 power battery exports exceed 2.5 billion

Foreign new energy vehicle projects have entered the stage of mass production, the growth of power battery orders has accelerated, and the export volume of LiFePO4 battery in the Ningde era has greatly increased.

According to Ningde Customs statistics, in the first quarter, Ningde Times declared an export value of power batteries at Ningde Customs to be 2.517 billion yuan, a year-on-year increase of 28.7 times.

It is reported that CATL products are sent to Europe and other places in the form of power battery modules to provide LiFePO4 battery for brand new energy vehicles such as Mercedes-Benz and BMW.

Industry data shows that the major European countries in Q1 (Germany, France, the United Kingdom, Norway, Sweden, the Netherlands, Italy, and Spain) registered 373,800 new energy vehicles. According to the calculation that the above-mentioned countries account for 85% of the European market, the European Q1 new energy vehicle registrations The volume is 440,000, which is the same as last year's high in Q4.

According to industry forecasts, sales of new energy vehicles in Europe this year are expected to exceed 2 million.

It is reported that CATL currently cooperates with international car companies including BMW, Toyota, Daimler, Hyundai, Jaguar Land Rover, PSA, Volkswagen and Volvo.

With the accelerated mass production of overseas new energy vehicle projects, the continued increase in the market will drive a surge in demand for LiFePO4 battery, and the CATL will become one of the biggest beneficiaries.

It is worth mentioning that since this year, international car companies including BMW, Mercedes-Benz, Volkswagen, Hyundai, etc. have all set their sights on the Ningde era or expressed their intention to increase cooperation.

On April 19, the President and CEO of BMW Group Greater China, Gao Le said that in the Chinese market, BMW and CATL will develop LiFePO4 battery together to fit BMW's packaging process.

On April 16, Mercedes-Benz EQS was officially released. The new car uses the 811 formula battery from the Ningde era with a capacity of 108kWh and a WLTP endurance of more than 700km. The two parties started cooperation on leading battery technology last year.

In March, the CEO of Volkswagen Group Herbert Diss publicly stated that it will cooperate with CATL to increase the purchase of LiFePO4 battery from CATL.

In February, CATL became the third batch of LiFePO4 battery suppliers for Hyundai E-GMP, and the winning bid may exceed 10 billion yuan.

Whether it is supporting international models going overseas or directly exporting power battery products, the continued volume of the overseas new energy vehicle market will become an important growth level for CATL’s performance, and this year may be a turning point.