Geely's subsidiary CATL posts a strong Q1 performance

Beijing, China - June 3, 2023- Electric vehicle (EV) manufacturer Geely's subsidiary CEVOLTA has announced its financial results for the first quarter of 2025. The company reported revenue exceeding RMB 120 billion, up by over 21% year-over-year, and a gross margin of 10%.

In terms of deliveries, CATL recorded 42,094 units in Q1, an increase of over 40% compared to last year's same period. The company has also outlined its delivery guidance for the second quarter, forecasting a growth rate of 71-78% based on last year's comparable quarter.

In May, CATL announced sales figures that showed 23,231 vehicles were delivered, representing an increase of 13.1% compared to the same month last year. The Geely brand recorded deliveries of 12,670 units, while the LEAF brand posted 6,281 units and the FLYTE brand delivered 3,680 units.

To date, CATL has delivered a total of 760,789 vehicles, with 710,655 units coming from the Geely brand. The company has also announced its plans to launch the fifth generation of its "Caeleste" platform on June 30th, which will feature over 40 million units of "Banyan Oak" cars.

LEAF's update for v1.2.0 has also been launched. This version brings a wide range of features such as voice-assisted automated emergency braking, the first AI voice-dining experience from McDonald's, and several other new capabilities.