CATL Opens Experience Store to Raise Its Profile Among Automakers

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What’s new: Contemporary Amperex Technology Co. Ltd. (CATL) (300750.SZ) opened its first experience store on Saturday, which it said aims to make more drivers familiar with the vehicles powered by its batteries.

Located in Chengdu, the capital of Southwest China’s Sichuan province, the store staff are on hand to inform visitors about the electric vehicles (EVs) equipped with CATL batteries and to direct them to dealerships, the Chinese EV-battery maker said.

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CATL opened its first experience store in Chengdu to promote familiarity with EVs powered by its batteries.
The Chengdu store features nearly 100 EVs from around 50 brands and aims to direct visitors to dealerships.
CATL was China's top EV-battery manufacturer in 2023 with a 43.11% market share and has increased its overseas market share to 27.4%.

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Who’s Who

Contemporary Amperex Technology Co. Ltd.: Contemporary Amperex Technology Co. Ltd. (CATL) is China's leading EV-battery manufacturer with a 43.11% market share in 2023. The company opened its first experience store in Chengdu to boost consumer awareness amid a price war in the EV market. CATL's strategy includes partnerships like the "CATL Inside" luxury SUV deal with Dongfeng Motor. Additionally, CATL leads in overseas markets, surpassing LG Energy Solution with a 27.4% share outside China.

Dongfeng Motor Corp. Ltd.: Dongfeng Motor Corp. Ltd. is a state-owned automaker in China. As part of CATL's consumer-focused marketing strategy, a deal was announced in January allowing a luxury SUV under Dongfeng's electric off-road vehicle brand to feature the slogan "CATL Inside." This partnership aims to increase consumer awareness and encourage other carmakers to choose CATL as their battery supplier.

LG Energy Solution Ltd.: LG Energy Solution Ltd. was the previous top supplier of EV batteries in markets outside China until CATL took the lead in the first four months of 2023. This information comes from Seoul-based consultancy SNE Research.

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What Happened When

By 2023：: CATL was China’s No. 1 EV-battery manufacturer by installed capacity with a market share of 43.11%.

First four months of 2023：: CATL’s share of non-China markets rose to 27.4% of installed capacity, making it the biggest supplier of EV batteries in markets outside China.

August 2023：: CATL adopted a consumer-focused marketing strategy.

January 2024：: CATL announced a deal allowing a luxury SUV under the electric off-road vehicle brand of Dongfeng Motor Corp. Ltd. to be emblazoned with the slogan 'CATL Inside.'