© Reuters. FILE PHOTO: An indication of Chinese language battery maker Modern Amperex Expertise Ltd (CATL) is seen on its constructing in Ningde, Fujian province, China August 8, 2018. Image taken August 8, 2018. REUTERS/Stringer
SHANGHAI/HONG KONG (Reuters) – CATL, the world’s largest electrical automobile (EV) battery producer, reported a 23.6% drop within the first quarter revenue on Friday, its first fall in two years, because it battles hovering uncooked materials prices and a resurgence of COVID-19 in China.
CATL, whose purchasers embody Tesla (NASDAQ:), Volkswagen (ETR:) and BMW, booked a web revenue of 1.49 billion yuan ($226.69 million), a submitting on the Shenzhen Inventory Trade confirmed.
That was down from 1.95 billion yuan revenue a 12 months earlier.
Income rose to 48.68 billion yuan from 19.17 billion yuan a 12 months earlier.
($1 = 6.5852 renminbi)
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