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Catl reported Q4 2025 earnings exceeding expectations, with a net profit of $3.3 billion, up 57.1% year-on-year, and revenues of $20.4 billion, a 36.6% increase. Despite a slowdown in the electric vehicle market, Catl's global share of EV batteries reached 39.2%, while BYD's fell to 16.4%.

Catl's growth was supported by demand for energy storage batteries, which accounted for nearly 15% of total sales in 2025. Catl's market capitalization is $232 billion, compared to BYD's $112 billion. BYD plans to build a network of 20,000 fast charging stations by 2026.