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Chinese battery giant CATL hit by profit slowdown as EV headwind fears grow
Chinese battery giant Contemporary Amperex Technology Limited (CATL) has recorded a surprise slowdown in third-quarter net profits, as analysts warned the company could be hit by slowing demand from China’s electric car industry next year. The world’s largest electric vehicle battery maker posted a net profit of 21.25 billion yuan (US$3.18 billion) for the July-September period, up 14.54 per cent from a year earlier, according to an exchange filing on Tuesday. The increase marked a sharp...
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