Contemporary Amperex Technology Co., Limited controls more of the world's EV battery supply than any other company. That grip tightened again in early 2026. CATL held 40.7% of global EV battery installations in the first quarter, shipped 99.5 GWh into the market, and reported first-quarter revenue growth of 52.45% year over year. This is not a company defending a lead. It is still widening one. Founded in 2011 in coastal Fujian province, CATL (宁德时代新能源科技股份有限公司) went from startup to world's largest battery maker in six years. Today it posts $61 billion in annual revenue, employs nearly 132,000 people, and operates 13 manufacturing facilities across three continents. Since this article first ran, CATL has added a very strong Q1, launched a new wave of batteries at its April Tech Day, expanded its battery-swap network to 1,470 stations, and signed a 60 GWh sodium-ion supply deal with HyperStrong. Chairman Robin Zeng is no longer just defending leadership in EV packs. He is trying to lock up the next storage cycle too. AI-generated image A gigafactory production floor. CATL operates 13 manufacturing facilities globally. Credit: AI illustration RMB 129.1B Q1 2026 Revenue 40.7% Global EV Battery Share (Q1 2026) RMB 20.74B Q1 2026 Net Profit 99.5 GWh Q1 EV Battery Installations 1,470 Choco-Swap Stations 60 GWh HyperStrong Sodium Deal May 2026 Update: CATL Added a Strong Q1, a New Tech Cycle, and a Huge Sodium Order CATL's April and early May news flow changed the profile of the company. First-quarter revenue rose 52.45% year over year to RMB 129.13 billion, net profit climbed 48.52% to RMB 20.74 billion, and SNE Research put CATL at 40.7% of global EV battery installations in January through March. Then CATL used its April 21 Tech Day to push third-generation Qilin and Shenxing batteries, expand Choco-Swap to 1,470 stations with a 4,000-station 2026 target, and position sodium-ion as a near-term commercial business. On April 27, HyperStrong made that real with a 60 GWh sodium-ion supply agreement over three years. Origin Story: From ATL to World Domination The story starts not in 2011 but in 1999, when Robin Zeng co-founded Amperex Technology Limited (ATL) in Hong Kong to make lithium polymer batteries for consumer electronics. ATL grew quickly, supplying Apple and other major device makers. In 2005, Japanese electronics conglomerate TDK acquired ATL. Zeng stayed on as a manager, which put him in an unusual position: running a battery business for a Japanese parent while watching the automotive industry start to electrify. Zeng saw the EV opportunity before most. Consumer electronics batteries and automotive batteries are entirely different animals — different chemistries, different form factors, different safety standards, vastly different production scale. TDK had no interest in chasing that market. So in 2011, Zeng spun off ATL's EV battery division and incorporated CATL in Ningde, a mid-size coastal city in Fujian province that few outside China had heard of. The company's first major break came almost immediately. BMW Brilliance , the German automaker's Chinese joint venture, signed on as a customer in 2012. That relationship was transformative. BMW's engineering standards are notoriously demanding, and meeting them forced CATL to build quality management systems, testing protocols, and supply chain processes that would have taken years longer to develop organically. The BMW validation became a calling card with other Western OEMs. Growth from there was steep. By 2017, CATL's power battery shipments reached 11.84 GWh, making it the world's largest EV battery supplier for the first time — displacing Panasonic, which had held the top spot thanks largely to its Tesla relationship. In June 2018, CATL listed on the Shenzhen Stock Exchange (SZSE: 300750), raising about $800 million. The same year, BMW announced a €4 billion battery purchase deal for the new Mini electric and the iNext platform. In May 2025, CATL completed a secondary listing on the Hong Kong Stock Exchange (HKEX: 3750), raising roughly $4-4.6 billion via approximately 118-125 million shares. Proceeds are funding global factory expansion, including the €7.3 billion Debrecen, Hungary gigafactory. The Hong Kong listing gives CATL access to offshore capital markets and international investors who cannot easily hold Shenzhen-listed shares. The Technology Portfolio CATL does not compete on a single chemistry. It has developed a broad portfolio of battery technologies and manufacturing innovations, giving it the ability to serve different vehicle segments and price points simultaneously. The company spends roughly 6% of revenue on R&D — at its current scale, that is several billion dollars per year. AI-generated image CATL's battery research spans multiple chemistries, from LFP to condensed-matter cells targeting 500 Wh/kg. Credit: AI illustration LFP (Lithium Iron Phosphate) Lower cost, excellent safety profile, long cycle life. Dominant chemistry for mass-market EVs and stationary storage. BYD's rival Blade Battery runs LFP too, but CATL maintains a cost and volume edge. NCM (Nickel Cobalt Manganese) Higher energy density than LFP. Used in premium vehicles and applications where range per kilogram matters most. Supplied to BMW, VW, and premium Chinese OEMs. CTP (Cell-to-Pack) Proprietary packaging that eliminates battery modules, delivering 10-15% higher energy density and 40% fewer parts vs. conventional packs. Now in third-generation form with Kirin. Kirin Battery Cell-to-vehicle integration. Charges from 10% to 80% in 10 minutes. Supports vehicles with over 1,000 km range on a single charge. Used in flagship models from NIO and Li Auto. Condensed Battery (2023) 500 Wh/kg energy density — more than double conventional lithium-ion. Targeting aviation and high-performance applications. Commercial deployment timeline still in development. Naxtra Sodium-Ion Mass production started late 2025. Energy density up to 175 Wh/kg, operates from -40°C, no lithium required. The first mass-produced sodium-ion EV (Nevo A06, with Changan) hit dealerships in early 2026. Naxtra Sodium-Ion: 2026 Is the Deployment Year CATL confirmed large-scale Naxtra deployment across passenger EVs, commercial vehicles, and grid storage in 2026. The Changan Nevo A06 is the world's first mass-produced sodium-ion EV, using Naxtra cells. The chemistry runs from -40°C without significant performance loss — a direct advantage over lithium in cold climates — and its freedom from lithium supply chains matters in markets where lithium prices are volatile. CATL revised its 2026 production guidance upward 30% to 1,300 GWh, with sodium-ion cited as a growth driver. April 2026 Tech Day Reset the Product Roadmap Qilin 3: CATL said the third-generation Qilin battery can reach a peak 15C charging rate, more than 1,000 kilometers of range in a 125 kWh pack, and materially lower pack weight than comparable LFP systems. Shenxing 3: The latest fast-charge LFP battery can move from 10% to 80% in 3 minutes and 44 seconds, with more than 90% capacity retention after 1,000 full cycles. Battery swap: CATL said its Choco-Swap network has reached 1,470 stations across 99 cities and is targeting 4,000 integrated charge-and-swap sites by the end of 2026. Sodium-ion: The 60 GWh HyperStrong agreement gave CATL's sodium push its clearest commercial proof yet. CATL's energy-storage sodium cell is a 300+ Ah product with about 160 Wh/kg energy density, 97% system efficiency, and more than 15,000 cycles at 80% capacity retention. Global Expansion: Hungary Goes Live, Yunnan Breaks Ground CATL's geographic footprint now extends to Europe with two active manufacturing sites. The Arnstadt, Germany plant was its first European factory and serves BMW, VW, and continental customers. The Debrecen, Hungary gigafactory — a €7.3 billion investment — is the larger bet. Module assembly has been running since August 2024, with over 120,000 modules produced. Full cell productio