SHANGHAI (Reuters) – Chinese battery maker CATL said on Thursday that it would gradually implement battery price rises in the second quarter as it had almost completed negotiations with customers on such adjustments due to soaring material costs.
China’s measures to battle COVID-19 outbreaks is having little impact on production or demand for its batteries, the company said on an online conference with investors.
It said it expected 40% of its deliveries this year would be nickel-cobalt-manganese (NCM) batteries while the remaining would be lithium phosphate batteries.
(Reporting by Zhang Yan; editing by Jason Neely)
