CATL has 32.67 percent of its revenue coming from overseas in 2023, up from 23.41 percent in 2022, as it begins deliveries to foreign customers.
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CATL will also plan and develop battery systems of longer service lives for Nio's upcoming models.
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Titans team up to make batteries in China.
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CATL's share of China's EV battery market increased by 5.75 percentage points in February, while BYD's share decreased by 0.82 percentage points.
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Morgan Stanley said it sees multiple inflection points in CATL's fundamentals and upgraded the company to Overweight from Equal Weight.
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CATL's battery installations in January were 20.5 GWh, up 88.1 percent year-on-year, while BYD's were 7.4 GWh, up 34.4 percent year-on-year.
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CATL is still in the process of developing and validating the M3P battery with Tesla, and the exact timing of the installation is not yet clear, according to local media.
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You won't even have time to go to the toilet. 521.2 kW peak charging.
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In normal conditions, Shenzign battery can add 400 km in 10 minutes.
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As a comparison, CATL and BYD's shares in 2022 were 36.2 percent and 13.9 percent, respectively.
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