Global energy shock accelerates CATL’s upstream push as demand for EV batteries and storage systems surges
2-MIN READ2-MIN ListenDaniel Renin ShanghaiPublished: 9:50pm, 15 Apr 2026Updated: 9:55pm, 15 Apr 2026Contemporary Amperex Technology Ltd (CATL), China’s electric vehicle (EV) battery king, plans to earmark 30 billion yuan (US$4.4 billion) to establish a subsidiary to manage and expand mining assets, after the global energy shock paved the way for a quicker entry into the world’s automotive and energy storage system (ESS) markets.The investment arm, in line with CATL’s long-term growth strategy, would integrate existing mining assets, pursue high-quality mineral projects at home and abroad, and safeguard supply of raw materials for the company’s core business, according to a filing to the Shenzhen Stock Exchange.CATL, based in Ningde, east China’s Fujian province, reported a net profit of 20.74 billion yuan in the three months to March, the company announced on Wednesday. That figure was up 48.5 per cent from the previous quarter and beat a Bloomberg consensus estimate of 17.6 billion yuan.
“The battery behemoth has sniffed out huge growth opportunities looming ahead,” said Ding Haifeng, a consultant at Shanghai-based financial advisory firm Integrity. “It is making big investments into upstream mining resources to support its potential high growth.”
