Shanghai, Jan 25, 2026, 05:15 CST — Market closed
- On Friday, CATL’s Class A shares ended at 347 yuan, marking a 0.35% gain.
- The battery maker launched its Tianxing II line of light commercial vehicle batteries, featuring a mass-produced sodium-ion pack designed for cold-weather performance.
- Investors are keeping an eye on follow-on orders, the planned July sodium-battery production ramp, and the timing of CATL’s annual report.
Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ) finished Friday’s session up 1.2 yuan, or 0.35%, ending at 347 yuan. Mainland markets remain closed until Monday. Over the past week, the stock has slipped roughly 1.5%. 1
The upcoming session will reveal if CATL’s new bet on sodium-ion batteries gains traction with investors or gets lost amid China’s EV price war. Sodium-ion batteries swap lithium for sodium; they’re touted as a cheaper, more cold-resistant option, though they still lag behind lithium-ion in energy density.
CATL is pushing aggressively into light commercial vehicles, a market where operators scrutinize downtime and charging speed just as much as upfront costs. This segment has become a battleground, with second-tier cell makers and certain automakers gaining ground, sparking intense competition over price and service.
At a Guangzhou event on Jan. 22, logistics unit executive president Chen Guangqiang projected new-energy light commercial vehicle sales in 2026 to surpass 900,000. CTO Gao Huan noted that over 45% of China’s light trucks operate on intercity routes, yet electrification remains below 12%, labeling this a “high-value” opportunity. CATL unveiled a 253 kWh battery pack promising 800 km of real-world range. Industry data revealed CATL’s share of domestic new-energy commercial-vehicle battery installs slipped to 49.17% in 2025, down 11.9 percentage points, as rivals EVE Energy and CALB gained traction. 2
Beijing News reported CATL’s Tianxing II low-temperature version retains over 92% usable power at minus 20 degrees Celsius and can still “plug in and charge” at minus 30, even after the cell freezes solid. The company also introduced a battery-swap system, offering standard packs of 42 kWh, 56 kWh, and 81 kWh. More than 20 light commercial vehicles already use these swap packs. Alongside, CATL launched a “Battery Butler” app to manage batteries. 3
A report from Sina Finance, referencing data released by CATL, noted the sodium-ion battery’s energy density hits 175 Wh/kg. It’s engineered to charge even in extreme cold, down to minus 30 degrees Celsius. Wh/kg measures how much energy a battery stores per kilogram—higher numbers mean better range. Sodium-ion tech usually falls short of lithium-based cells in this regard. 4
After the launch, Gao revealed in another interview that CATL has partnered with an Aion UT “super” model combining sodium-ion tech and battery swapping, targeting mass production by Q2. He warned, though, that sodium-ion still requires scale to be cost-effective, predicting it will appear “more economical” within two to three years. 5
Morgan Stanley maintained its “overweight” rating on CATL, setting an A-share price target at 490 yuan. The bank described the move into sodium-ion batteries as the dawn of a “sodium era.” It noted CATL could soon achieve cost parity with lithium iron phosphate (LFP), a popular low-cost lithium chemistry. The report also highlighted a potential for sodium-ion prices to drop more than 30% below LFP if supply-chain capacity hits around 100 GWh within the next three years. 6
CATL’s update arrived alongside gains on China’s mainland markets Friday: the Shanghai Composite rose 0.33%, Shenzhen Component climbed 0.79%, and the ChiNext index added 0.63%. 7
A filing on Friday revealed that CATL disclosed a private equity fund it backed has completed registration with China’s Asset Management Association. The fund’s total committed capital stands at 4.001 billion yuan, with CATL contributing 500 million yuan, accounting for 12.497% of the fund, the document showed.
That said, sodium-ion faces plenty of hurdles: from yields and material consistency to potential margin pressure if costs don’t drop quickly. Securities Times reports CATL’s sodium pack has wrapped winter testing on JAC light trucks and mid-size vans, with batch production slated for July 2026 — a tight schedule that leaves little wiggle room for production setbacks. 8
Traders will be keeping an eye on Monday’s reopening to see if CATL shares gain momentum. Investors also await updates on supply details and customer rollouts. According to Chinese finance sites, CATL plans to release its annual report on March 21. 9
