CATL's profit rose 13.4% to $1.7 billion in Q2 2024, outstripping forecasts, maintaining its global battery supplier top position.
Despite profit gains, CATL's revenue dropped 13.2% to $12 billion in Q2 2024, harboring concerns for the first half performance.
Morgan Stanley analyst Adam Jonas pointed out the Westernization of Chinese tech for US acceptance and China's quest to export EV batteries amid oversupply.
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