CATL Expands Storage, Swapping and Hydropower Footprint as Buyback and Green Bond Bolster Capital
Published on 10/01/2026 at 03:01 | Editorial boerse-global.de
CATL has moved on several fronts at once, pairing an overseas energy-storage win with fresh capital-raising at home and a deepening of its battery-swapping infrastructure across China. The world's largest battery maker signed an agreement with Copenhagen Infrastructure Partners to supply a battery energy storage system for the La Alegría solar project in Mexico, a facility rated at 313 megawatts of power and 1,639.45 megawatt-hours of capacity. By the company's own account, it ranks as the largest battery storage system ever built in the country.
The deal lands in the higher-margin segment of industrial storage solutions, and investors took note: the stock rose 1.5% on mainland Chinese exchanges to 291.11 CNY. That advance leaves the shares down 21% since the start of the year, a reminder that the broader trend remains under pressure even as project announcements accumulate.
Green Bonds Add 5 Billion RMB to the War Chest
Alongside its international push, CATL strengthened its balance sheet at home. On Monday the company completed the issuance of green technology innovation bonds totaling 5 billion RMB. The proceeds are earmarked for advancing storage and manufacturing technologies that its overseas project business depends on. For CATL, large global undertakings such as the Mexican installation serve as a key lever to secure growth beyond the traditional passenger-car segment. Roughly two weeks ago, news of Chinese automakers relocating production had weighed noticeably on the stock, giving renewable-energy projects added strategic weight in keeping production capacity utilized.
Battery-Swap Network Reaches 2,520 Stations
On the domestic front, CATL said Wednesday that its Choco-Swap network has grown to 2,520 stations spanning 31 Chinese provinces and 200 cities, with nearly 20,000 new CATL batteries placed into circulation. For 2026 to 2027, the company plans to build 1,000 highway swap stations. The expansion underscores how the battery maker is hedging against slower growth in conventional EV sales by building recurring revenue around energy services.
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Buyback Targets Cancellation of Shares
CATL also continued to return capital to shareholders. The company repurchased 697,080 of its own A-shares, with the total volume of the buyback amounting to 199,987,757.62 RMB. Transaction prices ranged between 286.53 and 287.27 RMB per share. According to the reports, the repurchased shares are intended for subsequent cancellation.
Regulatory Green Light for Stake in Geely-Backed Battery Maker
Back at home, CATL is shoring up ties with established automakers. China's State Administration for Market Regulation granted approval for the company to acquire a stake in Chongqing Yaoning New Energy Technology Co., a battery manufacturer backed by Geely Automobile Holdings Ltd., according to Bloomberg. The exact size of the holding was not disclosed. The Chongqing Yaoning New Energy plant has a planned annual capacity of 30 gigawatt-hours and a total investment volume of roughly 8.5 billion RMB. Trial operation of the production facilities is scheduled for December 2026, ahead of full output in the first quarter of 2027. Through the move, CATL gains access to additional capacity in its home market while simultaneously expanding its position as a technology and system supplier in international energy markets.
Hydropower Venture in Tibet and Hungarian Plant Ramp-Up
The company's reach extends beyond batteries. On Friday, CATL teamed up with China Huaneng to establish Huaneng Lancangjiang Guxue (Mangkang) Hydropower Co., based in Tibet, with registered capital of 5.6 billion RMB. Huaneng Lancangjiang Upper-Reach Hydropower subscribed 4.984 billion RMB for an 89% stake, while CATL contributed 616 million RMB for an 11% holding.
Just over a week ago, CATL began trial production on the first two cell manufacturing lines at its plant in Debrecen, Hungary, after the necessary approval requirements were met. The company said the site is designed for a capacity of 100 GWh once all facilities are fully completed.
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