China's major EV battery makers reported over 50 billion yuan in net profits in the first half of the year, nearly double that of automakers.
Seven major battery manufacturers, including CATL, recorded a combined net profit exceeding 50 billion yuan (approximately $7.4 billion) from January to June this year, a 49% year-on-year increase, according to company disclosures. This figure is nearly double the net profit of China's major automakers during the same period, highlighting a widening gap in industry profitability amidst weakening domestic demand for electric vehicles.
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