Fisker Battery Supplier (CATL) Sees Slower EV Demand
China battery giant CATL reports slower Q4 profit growth:
Chinese battery giant CATL posted sharply slower growth in fourth quarter net profit, after COVID-19 outbreaks and consumer caution hit electric vehicle (EV) demand in the world's largest auto market.
The trend has extended to the first quarter even though Tesla and its Chinese rivals have started slashing prices of their best-selling models to boost sales in what analysts have described as a price war.
CATL offered discounts to some Chinese automaking clients, Reuters reported last month, reflecting a downturn in the price of lithium and a bid to win more orders.
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1) Covid-19 slowed demand in China
2) Giving discounts to some Chinese automakers to splur demand
3) No supply issue