HomeMarketsElectric Car Battery Maker CATL Sees Up To 200% Jump in Profits

Electric Car Battery Maker CATL Sees Up To 200% Jump in Profits

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Electric Car Battery Maker CATL Sees Up To 200% Jump in Profits
Electric Car Battery Maker CATL Sees Up To 200% Jump in Profits

Contemporary Amperex Technology Co Ltd. expects its net income to rise to as much as 9.8 billion Yuan ($1.4 billion) in the third quarter, as the largest maker of electric vehicle batteries benefits from strong sales to the auto industry.

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South Korean battery maker LG Energy Solution Ltd. reported third-quarter earnings last week that comfortably beat expectations for profits and sales, driven by demand for electric vehicles and a weak Korean won offsetting high commodity prices.

CATL is expected to release third-quarter results on Oct. 21.

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