CATL announces solid-state battery production roadmap: pilot production to begin in 2027, with mass production targeted for 2030.
On the evening of July 30, Contemporary Amperex Technology Co. Limited (CATL) released its 2025 mid-year financial report. Key financial highlights are as follows:
- Total revenue: ¥178.886 billion ($25.04 billion), up 7.27% year-on-year;
- Net profit: ¥30.485 billion ($4.27 billion), up 33.33% year-on-year;
- Gross margin: 25.02%, an increase of 1.57 percentage points;
- Operating cash flow: ¥58.687 billion ($8.22 billion), up 31.26% year-on-year.
The report also includes the company’s mid-year dividend plan: a cash dividend of ¥4.57 billion ($640 million) and a planned investment of ¥80 billion ($11.2 billion) in low-risk financial instruments. CATL now holds over ¥350 billion ($49 billion) in cash reserves to support business expansion.
Power batteries and energy storage batteries remain CATL’s core business sectors. Operating data for each business segment are as follows:
Power battery revenue: ¥131.572 billion ($18.42 billion), up 16.8% year-on-year, accounting for over 70% of total revenue. According to SNE Research, global new energy vehicle (NEV) sales reached 7.52 million units in the first five months of 2025. CATL remains the world’s top battery supplier with a 38.1% global market share in installed battery capacity. BYD ranks second with a 17.4% share.
Energy storage battery revenue: ¥28.4 billion ($3.98 billion), down 1.47% year-on-year, accounting for 15.88% of total revenue. According to ICCSINO, CATL ranked first globally in energy storage battery output during H1 2025. By the end of the reporting period, CATL’s power batteries had been installed in approximately 20 million vehicles worldwide, while its energy storage batteries had been deployed in over 2,000 projects globally.
Materials and recycling business: Revenue reached ¥7.887 billion ($1.1 billion), down 44.97%, but with a gross margin of 26.42%, making it a key contributor to profit.
This earnings report marks the first time CATL has publicly disclosed a timeline for solid-state battery mass production. According to the company, pilot-scale production will begin in 2027, with large-scale production expected by 2030. It is worth noting that most so-called “solid-state batteries” in the current market are semi-solid. CATL emphasized that it has now overcome supply chain maturity bottlenecks, and its fundamental research capabilities have been recognized by Nature Nanotechnology.
In the energy replenishment ecosystem, CATL is accelerating cooperation with automakers in the battery swapping sector.
In March this year, the company announced a partnership with NIO, launching a “Battery Swap Alliance”, which has since attracted GAC, Chery, Changan, and Hongqi. CATL aims to build 1,000 battery swap stations by the end of 2025, with a mid-term goal of 10,000 stations.
As of now, CATL has deployed over 400 battery swap stations for passenger vehicles across China.
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