CATL(SZ:300750) 36氪·2025-12-27 09:48Core Viewpoint - The article discusses the competitive dynamics between leading companies in the electric vehicle battery market, particularly focusing on CATL (宁德时代) and its strategies to regain market share amidst rising competition from companies like Xiaomi and Li Auto [4]. Group 1: Negotiation Dynamics - A negotiation took place between CATL's chairman, Zeng Yuqun, and Xiaomi's chairman, Lei Jun, regarding battery supply agreements, with Xiaomi seeking to secure favorable rebate conditions [5][6]. - Xiaomi's first car, the SU7, had a high dependency on CATL for battery supply, but the second model, YU7, saw a shift towards BYD batteries, reducing CATL's share significantly [6][7]. - Xiaomi's successful sales of 130,000 units of the SU7 in its first year highlight its effective supply chain management, which has attracted numerous suppliers [7][8]. Group 2: Market Share and Financial Performance - CATL's market share in the domestic battery market has declined from 53% in 2021 to 43% currently, while its battery gross margin has also decreased to around 23% [11][12]. - The competitive landscape has forced CATL to restructure its sales team and adopt a more aggressive approach to regain lost market share [12][13]. - CATL's financial performance remains strong, with a profit of 30.5 billion yuan in the first half of the year, surpassing the total profits of 17 car manufacturers combined [55]. Group 3: Strategic Responses - CATL is expanding its production capacity, aiming to reach 1,000 GWh by next year, to meet the increasing demand for batteries [24]. - The company is also adopting a "2C strategy" to enhance its brand presence among consumers, investing nearly 10 billion yuan in marketing efforts [41][42]. - CATL's ability to deliver batteries quickly and efficiently has positioned it favorably against competitors, allowing it to capture significant orders from emerging car manufacturers like Zero Run [30][31]. Group 4: Competitive Tactics - CATL employs a "blocking tactic" by preparing resources in advance and quickly stepping in to fill gaps left by competitors, ensuring it remains a preferred supplier [31][32]. - The company has successfully captured orders from various automakers by offering competitive pricing and rapid delivery, which has made it difficult for second-tier battery manufacturers to compete [36][37]. - CATL's strategic investments in its brand and technology have solidified its position as a leader in the high-performance battery market, particularly in the ternary lithium battery segment [45][46]. Group 5: Industry Trends and Future Outlook - The article suggests that the ongoing competition between battery suppliers and automakers will continue, with companies striving to establish control over their supply chains [61]. - As automakers like Li Auto and Xiaomi explore their own battery production capabilities, the dynamics of the battery supply market are expected to evolve further [56][58]. - The future of the industry will depend on balancing cost efficiency with the need for high-quality, high-density batteries, as well as the ability to navigate the complexities of supply chain management [60].