Chinese EV battery giant CATL posts 33% surge in Q1 profit
The world's leading maker of electric vehicle batteries, Chinese firm CATL, posted a 32.9 percent jump in first quarter profit, even as demand for electric vehicles slows. Net profit in the first quarter was up 32.9 percent year-on-year to 13.96 billion yuan ($1.91 billion), according to a statement CATL released on the Shenzhen Stock Exchange Monday.