BEIJING -- Net profit for Chinese manufacturer CATL jumped 93% last year to 30.7 billion yuan ($4.41 billion) as the world's largest supplier of electric vehicle batteries enjoyed a surge in deliveries that offset headwinds from higher raw material prices.
Electric cars in China
China battery giant CATL's profit surges 93% on booming demand
Margin pressure on EV batteries raises concerns as lithium costs increase
CATL controls almost 40% of the global market for automotive batteries. (Photo courtesy of CATL)
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