By ESS news
China’s battery champions are rushing to expand capacity as supplies of small-format cells flood the global energy storage market. During an online briefing on October 20, Contemporary Amperex Technology (CATL) told investors it was “fully advancing global capacity building” to meet rising orders. The company’s third-quarter revenue rose 12.9% year-on-year to RMB104.19 billion ($14.6 billion), while net profit rose 41.21% to RMB18.55 billion, underscoring resilient demand.
Yet the pressure is most acute in stationary storage. An EVE Energy representative stated that “battery capacity is currently tight – high-end capacity has always been tight,” following reports that leading storage cell lines are running at full capacity and second-line producers are at capacity utilization of more than 80%.
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