Battery manufacturer CATL has announced plans to expand several of its production sites, amidst a surge in demand for electric vehicles.
According to CATL, global sales of new energy vehicles are projected to reach 55 million units by 2030, more than three times the 2024 figure, while sales of electric trucks were up 140% in the first half of this year, compared to the corresponding period in 2024.
In addition, CATL noted that energy storage capacity is also surging, with global capacity expected to reach 92 GW this year, an increase of nearly 23% on 2024. In China, cumulative battery energy storage system (BESS) capacity surpassed 100 GW in the first half of 2025, a 110% increase on the corresponding period a year ago.
‘Significant capacity expansion’
To meet this demand, CATL is implementing a ‘significant capacity expansion’ at its facilities in Jining (Shandong), Ruiqing (Guangdong), Yichun (Jiangxi), Xiamen and Ningde (Fujian), and Qinghai, with the Jining facility expected to add more than 100 GWh of energy storage capacity by 2026.
It is also expanding its European operations – construction of its new facility in Hungary is ‘progressing on schedule’, the company said, with Phase 1 expected to exceed 30 GWh by the end of 2025. In Spain, CATL recently established a joint venture to grow its operations in the country, while its German operations remain ‘profitable’, it noted.
Elsewhere, in Indonesia, a new integrated battery project, with 15 GWh planned capacity, is scheduled to start operation in the first half of 2026, supporting both EV and energy storage applications.
‘CATL is well-positioned to deliver sustainable and resilient growth, ensuring the company can scale production while maintaining its leadership in innovation and operational efficiency,’ the company said.
Third-quarter performance
CATL recently announced its financial results for the third quarter of 2025, which revealed that total revenue reached RMB 104.2 billion, up 12.9% year-on-year, while net profit attributable to shareholders increased 41.2% to RMB 18.55 billion.
The company’s net profit margin rose to 19.1%, up 4.1% year-on-year, while total cash and financial assets exceeded RMB 360 billion.
As the company noted, ‘CATL maintains a robust financial position, providing strong support for intensive R&D investment, large-scale capacity expansion, and sustained global growth’. Read more here.
