CATL expects energy storage to account for half of global sales by 2030

World's largest EV battery maker shifting to energy storage

On the Dash: CATL wants energy storage to account for half of its global sales by 2030, up from 25% today. Automakers and dealers could face tighter EV battery supply and higher costs. Ford Energy runs on CATL-licensed technology, putting Ford in a complicated position as competition grows. The world’s largest EV battery maker, China’s Contemporary Amperex Technology Ltd(CATL), is pivoting from electric vehicles to energy storage. The shift cou…

CATL expects energy storage to account for half of global sales by 2030

China's CATL, the world's largest battery manufacturer, expects energy storage to account for half of its global sales by 2030, up from approximately 25% at present, according to a company executive.Kevin Tang, CATL's Director of Energy Storage Systems for Europe, said the energy storage segment has grown significantly over the past five years. Speaking to Reuters on the sidelines of the International Photovoltaic Power Generation and Smart Ener…