Chinese battery giant CATL plans battery price changes in second quarter

By:

Published: May 5, 2022, 08:53 GMT+00:00

SHANGHAI (Reuters) - Chinese battery maker CATL said on Thursday that it would gradually implement battery price rises in the second quarter as it had almost completed negotiations with customers on such adjustments due to soaring material costs.

A worker stands outside a factory of Contemporary Amperex Technology Ltd (CATL) in Ningde

SHANGHAI (Reuters) – Chinese battery maker CATL said on Thursday that it would gradually implement battery price rises in the second quarter as it had almost completed negotiations with customers on such adjustments due to soaring material costs.

China’s measures to battle COVID-19 outbreaks is having little impact on production or demand for its batteries, the company said on an online conference with investors.

It said it expected 40% of its deliveries this year would be nickel-cobalt-manganese (NCM) batteries while the remaining would be lithium phosphate batteries.

(Reporting by Zhang Yan; editing by Jason Neely)

About the Author

Reuterscontributor

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products: