CATL Locks In Copper Supply Amid Hungary Expansion

CATL has secured a multi-year copper supply deal with Hong Kong Ansheng, owned by CATL's chairman and majority shareholder Zeng Yuqun. The contract covers up to 20,000 tonnes of cathode copper from 2027 to 2028, totaling $320 million. This move locks in a key input for CATL's cell production.

CATL is also expanding its battery business beyond passenger cars. Energy storage revenue jumped 87.5% year-over-year to RMB 53.26 billion in the first half of 2026, while group revenue reached RMB 276.92 billion. The company is pushing into commercial vehicles and transport solutions.

The Debrecen plant in Hungary has started trial production on two cell lines, with a planned annual capacity of 40 gigawatt-hours. CATL's managing director Shen Feng estimates the ramp-up to full capacity will take around two to four months, depending on quality control and customer validation.