GUANGZHOU -- China's Contemporary Amperex Technology (CATL) has held onto its global lead in electric vehicle batteries and widened its profit margins thanks to high-performance products, even as competitors struggle with a slowdown in Western EV markets.
Last year, CATL grew its share of the global EV battery market by 1.3 percentage points to 37.9% by volume, taking the lead for an eighth straight year, data from South Korea's SNE Research shows. Its nearest competitor, compatriot BYD, holds a 17.2% share. CATL is expected to expand its share this year as well, according to Chinese brokerage Shenwan Hongyuan Securities.
