Organization: Contemporary Amperex Technology (CATL) will continue to benefit from the growing demand for electric vehicles worldwide.

The Morningstar report stated that Chinese battery manufacturer CATL will continue to benefit from the global trend towards electrification of automobiles. CATL's battery production capacity is expected to increase from 676 GWh in 2024 to 1,224 GWh in 2029, and its revenue will also continue to grow due to strong demand for batteries in electric vehicles and energy storage systems. Economic growth and decreasing raw material prices will help the company maintain an average gross profit margin of 26% from 2025 to 2029. By 2029, CATL's net profit could increase to 102 billion yuan.