Overview Key strengths Key risks Largest maker of automotive batteries globally, with strong technology offerings. Intensifying market competition in China. Solid relationships with automakers that are electrifying their portfolios. Geopolitical risk in overseas markets, especially in the U.S. Sustained net cash position with positive free operating cash flow (FOCF). The company is the largest supplier of electric vehicle (EV) batteries by battery installation, with 37.9% market share globally and 48.4% in China in the first quarter of 2024. Its solid strong market position is mainly due to its technology product offerings and solid long-term relationships with global auto automakers. High EV penetration and intensifying market competition will likely slow CATL's growth in China. However, expanding battery exports to Europe should
