China's CATL third-quarter profit growth slowest in nearly two years as competition intensifies

China's CATL, a leading electric vehicle battery manufacturer, has reported its slowest third-quarter profit growth in nearly two years. The company's net profit rose 14.5% to 21.2 billion yuan, but this increase was lower than expected. This slower growth is attributed to intense competition in China's EV battery market, which is putting pressure on CATL's earnings. As a result, investors are closely watching the company's moves to stay competitive, including its new heavy-duty truck batteries and plans to expand its battery-swapping network.

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CATL's profit growth is slowing due to intense competition in China's EV battery market. This could impact investor sentiment and the company's stock price.

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