Battery giant and Tesla supplier CATL falls on limited profits due to higher material costs
May 5, 2022
CATL, the largest EV battery manufacturer and a major supplier for Tesla, saw its stock fall after reporting limited profits due to higher battery material costs.
Contemporary Amperex Technology Co Ltd., better known as CATL, has been the largest producer of batteries for electric vehicles for five years in a row.
In recent years, it grew with Tesla by supplying most of the batteries for the…