In the current era, the most significant trend in the manufacturing industry is undoubtedly new energy vehicles.
The rise of new energy vehicles has not only propelled companies like BYD and Tesla to rapid prominence but also provided enormous market opportunities and profits to power battery manufacturers that support them.
Recently, CATL, the world's largest power battery manufacturer from Ningde, Fujian Province, China, released its annual report for 2023.
Over the past year, CATL achieved a total operating income of 400.92 billion yuan, surpassing the total revenue of most domestic car manufacturers.
More notably, CATL captured 36.8% of the global power battery market, maintaining the top position globally for seven consecutive years.
As the saying goes, "A hero relies on three helpers." CATL's ascent to becoming the world's largest automotive power battery manufacturer owes much to the strong support from several domestic automotive manufacturing groups.
Apart from BYD using its own lithium iron phosphate batteries, the majority of new energy vehicle companies use CATL's ternary lithium battery technology, making CATL one of the primary suppliers in this field.
It is understood that five major domestic automotive manufacturing groups have formed joint ventures with CATL.
These joint ventures not only secure their core battery products but also contribute significantly to CATL's path to industry leadership.
SAIC Motor Corporation, headquartered in Shanghai, is one of China's largest automotive industry groups.
In 2023, SAIC Motor's automobile sales reached 5.02 million units, making it the only super car manufacturer with annual sales exceeding 5 million units.
In 2017, SAIC Motor and CATL established SAIC CATL in Liyang, Jiangsu Province, to jointly develop new energy vehicle power battery technology.
FAW Group Corporation, headquartered in Changchun, Jilin Province, is China's second-largest automotive manufacturing group.
In 2023, FAW Group's automobile production reached 3.44 million units.
SAIC FAW, located in Xiapu County, Ningde City, has become one of its pillars in supplying new energy vehicle power batteries, contributing significantly to the economic development of Xiapu County.
Geely Holding Group is China's fourth-largest automotive manufacturing group, with automobile sales reaching 2.8 million units in 2023.
Geely and CATL jointly established Geely CATL in Yibin City, Sichuan Province, becoming an important base for new energy vehicle power battery production in western China.
Guangzhou Automobile Group Co., Ltd., headquartered in Guangzhou, Guangdong Province, is China's sixth-largest automotive manufacturing enterprise, with full-year sales of 2.505 million vehicles in 2023.
GAC CATL, established in Guangzhou, supports its new energy vehicles with power batteries.
Dongfeng Motor Corporation, headquartered in Wuhan, Hubei Province, sold 2.42 million vehicles in 2023.
Dongfeng and CATL jointly established Dongfeng CATL to promote the development of new energy vehicles, particularly in the Wuhan market.
CATL, as the world's leading power battery manufacturer, has become one of the biggest beneficiaries of the new energy vehicle era due to its technological leadership and market advantages.
Its joint ventures with several domestic automotive giants not only solidify its market position but also provide robust support for the popularization of new energy vehicles.
With the rapid expansion and technological advancement of China's new energy vehicle market, CATL will continue to play a crucial role.
In the future, as power battery technology matures and becomes more widespread, CATL is poised to lead the global new energy vehicle industry development trend, contributing more to environmental protection and sustainable development.
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