CATL: If Lithium Carbonate Prices Rise Further, Sodium-Ion Battery Application Scenarios and Market Penetration Are Expected to Expand

CATL stated at the earnings presentation that the current lithium carbonate price increase is significantly weaker than the previous cycle. Coupled with the company’s notable achievements in technological innovation, product iteration, and cost reduction and efficiency improvements, its ability to absorb cost fluctuations has strengthened. Currently, client business cooperation remains stable. Unless extreme market conditions occur, existing rebate policies and commercial terms will remain steady. Meanwhile, the company is accelerating the commercialization of sodium-ion batteries, with some vehicle applications already implemented and overall performance leading the industry. If lithium carbonate prices rise further in the future, the application scenarios and market penetration of sodium-ion batteries are expected to expand further.