The electric vehicle maker’s stock surged after a public offering last fall but has since plunged, in part because the company failed to meet its 2021 goals.
The electric vehicle maker’s stock surged after a public offering last fall but has since plunged, in part because the company failed to meet its 2021 goals.
The carmaker had a profit of $5.5 billion as sales of its electric vehicles continued to surge, especially in China and Europe.
The automaker will build a battery plant and overhaul an existing factory to produce electric pickup trucks, creating 4,000 jobs.
La enorme disparidad entre los resultados de la empresa de autos eléctricos y los de reconocidos fabricantes de carros el año pasado refleja el cambio tecnológico que sacude al sector.
The yawning disparity between the performance of the electric car company and established automakers last year reflects the technological change roiling the industry.
Senator Marco Rubio criticized the electric carmaker for opening the outlet in a region where China has been accused of targeting Muslims.
The electric-car maker managed substantial growth as Europe and China increasingly propelled sales.
Beijing gave CATL lavish subsidies, a captive market of buyers and soft regulatory treatment, helping it to control a crucial technology of the future.
The company, which began trading on the stock exchange last month, said it lost $1.2 billion in the third quarter.