COMPANY PROFILE / Solid-State Battery
CATL（Ningde Times）
— The world’s largest battery maker keeps saying it won’t release solid-state batteries yet
CATL plans tosell 661 GWh of lithium batteries in 2025It is the world’s largest battery manufacturer. However, regarding full-solid-state batteries, they are not mentioned in the legally required annual report for the fiscal year 2025. Furthermore, among the 11 major research and development projects listed in the investor relations activity record submitted to the stock exchange, full-solid-state batteries do not appear anywhere. On the other hand, in the investor relations activity record submitted to the stock exchange, there is a projection that mass production will be achieved by 2027.and it is stated. This article discussesDifference in phrasingchases it with primary information only.
- Understand CATL and its position in solid-state batteries in 30 seconds
- About the logo and company name
- Where is this company in the world of solid-state batteries
- Company size
- Resources invested in solid-state batteries
- Previous efforts
- Future plans
- What is this company aiming for with solid-state batteries?
- Mapping of collaborations in the field of all-solid-state batteries
- Techniques and methods adopted
- Risks faced by this company
- Glossary / References / Claims and Corresponding References Table
1. Understanding CATL in 30 seconds and its position with all-solid-state batteries
Limited Liability CompanyEnglish Name Contemporary Amperex Technology Co., Ltd. (CATL)
Hong Kong 03750Hong Kong will go public on May 20, 2025
(professional)We do not make cars ourselves. We sell batteries
(as of 2025)Accurately, 423,701,834 thousand yuan
(as of 2025)39.16% increase from the previous year
Small-batch productionExpression in the investor relations activity record of May 2025
Projects
Are not includedNone of the 11 items mentioned in the 2025 Annual Report
Companies working on solid-state batteriesAutomotive manufacturers, battery manufacturers, and startupsare divided into three types. CATL is one of thembattery manufactureris, and it is also the largest company among them fact. Toyota, for example, a car manufacturer, makes batteries to put in their own cars, while CATL makes batteries to sell to multiple car manufacturerspositiondifference is reflected in the advancement of solid-state batteries. Battery manufacturers will not be able to sell any battery if it is not adoptedwill not be soldso, there is no reason to bring the product to the market until both performance and cost exceed those of existing lithium-ion batteries. In fact, CATL stated at its earnings presentation in March 2026 that the comprehensive performance and safety will fully lead only when they have truly matured to the conditions required for commercialization, and then the product will be brought to the market. It said, fact。
2. Regarding logo and company name display
CATL’s logo is the trademark of the company
registered trademark
This. In this article, we will not reproduce using generated images, but instead obtain the official site’s authentic logo.
img/catl_logo.svg is published. Due to the white logo, the background is set to a dark color.
Note on notation: Simplified Chinese representation of company name isNingde Times New Energy Technology Co., Ltd.、 Traditional Chinese (Hong Kong Disclosure) whereNingde Times New Energy Technology Co., Ltd.、English is Contemporary Amperex Technology Co., Ltd. And, abbreviation is CATL It is.In the Japanese article, it is acceptable to write “Ningde Era” without any issues.. The name ‘Ningde’ of the company refers to the headquarters located inFujian Province, Ningde CityThe name is derived from the place name. In Chinese news reports, it is also referred to as ‘Ning Wang’, but this is not an official name and therefore is not used in this article.
Official website:https://www.catl.com/3. Among the world of all-solid-state batteries, where is this company located?
4. Company Size
CATL is a battery manufacturer, sothe size of the company directly corresponds to the scale of this field. However, as will be mentioned later,some of the solid-state batteries are not disclosed. fact。
| indicators (unit: thousand yuan) | 2023 year | 2024 year | 2025 year |
|---|---|---|---|
| revenue from sales | 400,917,045 | 362,012,554 | 423,701,834 |
| listed company shareholder attributable net income | 44,121,248 | 50,744,682 | 72,201,282 |
| research and development expenditure | 18,356,108 | 18,606,756 | 22,146,581 |
| Research and development investment ratio | 4.58% | 5.14% | 5.23% |
The amount is recorded in the annual reportIn RMB (thousand yuan) onlyNo conversion to Japanese yen has been performed.
| End-of-2025 scale | Numerical | Remarks |
|---|---|---|
| Total number of employees | 185,839 people | Parent company 16,233 people, major subsidiaries 169,606 people |
| Number of research and development personnel | 22,901 people | 12.32% of all employees. Among them, 745 PhDs and 5,242 Master’s |
| Sales volume of lithium batteries | 661GWh | 39.16% increase from the previous year |
| Production capacity | 748GWh／772GWh | Utilization rate at 96.9% |
| Construction of production capacity | 321GWh | As of the end of 2025 |
| Export sales ratio | 30.60% | Export sales 129,641,258 thousand yuan |
The above production capacity of 772GWh isthe number for the entirelithium-ion battery It is not the production capacity of solid-state batteries Unconfirmed / Future The table in the annual report titled ‘Sales and Production Status of Different Products or Businesses (Production and Sales Status by Product)’ ‘Battery system’ in just one lineis composed of, even the solid-state battery or the breakdown by type of batteries is not disclosed. In articles about Chinese battery manufacturers, it is common to see figures such as ‘○○GWh of solid-state battery factory’, but CATL’s own regulatory disclosures do not contain such numbers. This article will not adopt them.
5. Resources invested in solid-state batteries
CATL discloses its company-wide research and development resources very meticulously. However, the amount of resources or the number of people allocated to solid-state batteries is not mentioned in any disclosure document.. It will be organized based on whether we can confirm these four points: ‘people’, ‘money’, ‘external investments’, and ‘university collaborations’ as primary information.. It will be organized based on whether we can confirm these four points: ‘people’, ‘money’, ‘external investments’, and ‘university collaborations’ as primary information.
| Resource types | Information confirmed through primary sources | Classification |
|---|---|---|
| Person (company-wide) | Number of research and development personnel22,901 people(By the end of 2025). 745 PhDs, 5,242 Master’s degrees, and 9,418 Bachelor’s degrees. 11,837 people under 30 years old | fact |
| Person (exclusive to all-solid-state battery) | Name and personnel number of the exclusive organization for all-solid-state batteries | Not disclosed |
| Money (company-wide) | research and development expenditure22,146,581 thousand yuan(in 2025, 5.23% of sales) | fact |
| Gold (for all-solid-state batteries) | Research and development expenses and equipment investment for all-solid-state batteries | Not disclosed |
| Accumulation period | ‘In the field of solid-state batteries,accumulated over more than ten years of research and developmentand has formed a leading research and development team in the industry’ (Investor Relations Activity Record, July 30, 2025 and March 9, 2026) | fact |
| External investment and joint venture | Investment and joint ventures aimed at solid-state batteries are not recorded in annual reports, semi-annual reports, or business plans. The only one that is recorded as a joint venture isJoint venture with China Comac for civilian electric passenger aircraft(Those who use solid-state batteries) | Unconfirmed |
| Collaboration with universities and research institutions | There is no record of university or research institution collaboration on solid-state batteries in any disclosure documents | Unconfirmed |
| Patent | Domestic and foreign patents owned or applied forTotal of 60,319 pieces(as of June 30, 2026). However, the number of items related to solid-state batteries is not broken down | fact |
The annual report for 2025 lists 11 major research and development projects in a table factThe translation is incomplete. Please provide the full Japanese text for translation.Sakura Dual-Core Battery / Sodium New Battery / Super Mixture Battery / Condensed State Battery / Shinkou Battery / Tenkou Battery / High-Capacity Energy Storage Cell / TENER Stack / Self-Generated Anode / Smart Cell Design Platformsuch as, Solid-state batteries are not included in these 11 items. Furthermore, all 11 items in the ‘Project Progress’ column areThe product has been announced, and implementation with customers is being advanced.‘It is stated. That is, CATL has included in this table whathas already been released as a productand, it can be interpreted that solid-state batteries have not yet reached there Unconfirmed / Future。
Here is something to note:‘Self-generated negative electrode’It is a concept where the negative electrode material is not attached beforehand, but lithium is deposited on the collector during charging. The anode-free configuration and concept often discussed in relation to all-solid-state batteries are similar.It is a technology. However, CATL does not associate this with all-solid-state batteries in its annual report and does not mention what the electrolyte is. I would like to relate it, but there is no such notation in primary information. Unconfirmed / Future。
6. Previous Efforts
| period | Event (description of primary information) | Meaning |
|---|---|---|
| December 16, 2011 | Established in Ningde City, Fujian Province. The founder is Tseng Yu-chun (current Chairman) | It is still a company of about 15 years |
| April 2023 | cell individually500Wh/kgthesolid-state batteryannounced (as per the prospectus) | high-energy-density product. Howeverwhether the electrolyte is solid or semi-solid is not disclosed in the filing |
| September 1, 2024 | Zeng Yuqun gave a speech at the World Power Battery Conference.The key to developing all-solid-state batteries lies in material and chemical research, and the most difficult issue is the problem of solid-solid interfaces.‘Expressing the maturity level of technology and manufacturing on a scale from 1 to 9,’it would be at best around 4 in the industryand we have only been able to develop some samples and conduct experimental verifications. ‘Our research progress is also at about 4, but compared to the world, we are one step ahead.’ | The company’s top executives saidthat their own company is at a maturity level of 4and explicitly stated that this is in contrast to the bold mass production declaration. |
| May 14, 2025 | Investor Relations Activity Record (Online Response Day for Investors of Listed Companies under Fujian Administration) where ‘We are continuously investing in solid-state batteries and our technology is at the top level of the industry. We expect to achieve small-scale production by 2027.‘ was answered | The only mandatory disclosure that explicitly mentioned ‘solid-state’ and referred to a time period |
| May 20, 2025 | Listed on the Main Board of the Hong Kong Stock Exchange (H shares: 155,915,300 shares. An additional 20,336,700 shares were exercised under over-allotment rights on May 23) | We began to be subject to disclosure obligations in Shenzhen as well as Hong Kong |
| July 30, 2025 | Investor Relations Activity Record: ‘Over ten years of accumulation in the field of solid-state batteries.’Scientific issues within the industry have largely been resolved, but engineering challenges still remain, and commercialization with supply chain included is still a distance away.‘ was answered | Here, we are not referring to ‘all-solid’but ratherthe term ‘solid-state battery’ |
| November 12, 2025 | Zeng Yuqun’s lecture notes to be published on the official website.In terms of solid-state batteries as well, our research and industrialization progress are at the forefront of the world.」 | A claim of relative position. It has not demonstrated an absolute point of arrival. |
| March 9, 2026 | At the 2025 Annual Performance Explanation Meeting (approximately 1,350 participants), ‘Regarding solid-state batteries,’There are still some engineering problems remaining, and industrialization and commercialization will take a little more time.」「Only when comprehensive performance and safety are fully leading and it has truly matured to the conditions for commercialization will it be put on the market.‘ was answered | The ‘small-lot’ in May 2025 from the year 2027The reconfirmation of the timing has not been made |
| July 25, 2026 | 2026 Semiannual Report. Products announced at the “Super Tech Day” in the first half of the year are the 3rd Generation Kōkō Super Charging Battery, 3rd Generation Kirin Battery, Kirin Condensed State Battery, 2nd Generation Xiaoyao, and Sodium New Battery. | This list also does not include all-solid-state batteries |
7. Future Plans
led comprehensivelyin the response at the earnings presentation on March 9, 2026
the most common mistake when reading the announcement of a Chinese battery manufacturer is Semi-solid (Semi-Solid)achievements inFully-solid (Fully-Solid)the results as received. In the case of CATL,solid-state battery(cell-by-cell up to a maximum of 500Wh/kg) is often referred to as a semi-solid battery, CATL’s own disclosure documents do not mention whether the solid-state battery’s electrolyte is solid or semi-solid. Unconfirmed / Future In the annual report product list, the solid-state battery is only described as ‘high safety, high energy density, high output’. Therefore, in this article, we do not treat the solid-state battery as a full-solid battery. We also do not definitively state that it is a semi-solid battery.
Similarly, ‘CATL will mass-produce solid-state batteries by 2026’, ‘The pilot line yield has exceeded 95%’, and other specific numbers have been reported as news. However,To the best of this article’s knowledge, these are not found in CATL’s legal disclosures or on its official website.. This article will not adopt them.
8. What does this company aim to achieve with solid-state batteries?
This part includes information that the company has not directly stated.Inferred from primary sources within the scope of what can be read.Along with the basis, I will write it down.
| What can be read | primary information | Classification |
|---|---|---|
| solid-state batteries arenot a short-term revenue source but rather a technical insuranceas it is positioned | is not included in the main research and development projects of 11 items in the annual report, and among the risk factors ‘new product and new technology development risks’, sodium batteries and condensed state batteries are mentioned alongside solid-state batteries only once | speculation |
| maintaining the initiative in the announcementto be taken into account | ‘It will only be released on the market when it comprehensively leads in both comprehensive performance and safety, and has truly matured to meet commercialization conditions,’ their response in March 2026 | fact |
| 2027 year isNear the scale of providing samples for customer evaluationis likely to become | The term ‘mass production (mass production)’ is used, but neither the quantity target in GWh nor the model of the vehicles equipped with it are indicated | speculation |
| The competitive axis isnot solid-state, but for the time being, improvements in liquid-based systemsare being placed | The new products announced in the first half of 2025 and 2026 are all liquid-based or sodium-based (Kenshin, Kirin, Shouyao, Tenkou, Sodium New Battery) | fact |
| solid-state batterymaterial system is not disclosedis intentional | Accumulating over 10 years of experience and claiming to be at the top of the industry, it does not disclose any of its electrolyte system, cell configuration, or energy density in any of its filings | speculation |
CATL is other thanPuts out numbers with an unusually high level of specificity. Gel batteries are ‘up to 500Wh/kg per cell’, energy storage cells are ‘587Ah at the most optimistic point, which is about 50% higher in terms of throughput compared to mainstream 314Ah products’, and Goden batteries even name the generation, etc. However, fact. However,Regarding solid-state batteries, they have been saying for over 10 years that they have done it, but no numbers have come out.. Energy density, cell size, cycle number, and electrolyte system are also missing. When the technology that can produce numbers is so clearly separated from the one that cannot, the latter isstill not ready to put out numbers for evaluation.This is a natural reading of this article. Unconfirmed / Future. This is also consistent with his statement in 2024 that ‘It’s the highest in the industry, but at maturity level 4, and our company is around level 4 as well.’
9. Mapping of solid-state battery collaborations
10. Technology Approach Used
CATL does not disclose the electrolyte system of solid-state batteries (sulfide system, oxide system, halide system, polymer system, etc.) in any disclosure documents. in any disclosure documents Unconfirmed / Future。 Publicly disclosed isthe location of the issues and self-assessment of maturityIt is.
| Item | description of primary information |
|---|---|
| the key to development | materials and chemical research. The most difficult issolid-solid interfaceissues (by Yang Yuchun, September 2024) |
| Maturity self-assessment | Express the maturity of technology and manufacturing on a scale from 1 to 9it would be at best around 4 in the industry。Our company is about 4, but ‘we are one step ahead compared to the world’ (same source) |
| Remaining issues | Scientific problems are generally resolved.Engineering problemsand, commercialization including supply chain remains (Investor relations activity records for July 2025 and March 2026) |
| Constraints in the experimental stage | It is being made of element samples, and there are many boundary conditions for use. For exampleA pressure of 6,000 atmospheres is required to achieve low-temperature performancesuch conditions are mentioned (Chen Yuchun, September 2024) |
| Electrolyte system | Not recorded。Sulfide-based or not can also not be determined from primary information |
| Energy density · Cycle number | Not recorded。No numerical targets for all-solid-state batteries have been officially announced |
The boundary condition mentioned by Yang Yuanzhuang, ‘6,000 atmospheres of pressure is required to achieve low-temperature performance’, indicates How to create and maintain contact at the solid-solid interfaceThe biggest challenge in all-solid-state batteries fact. Liquid electrolyte seeps into every corner of the electrode by itself, but solid electrolyte does not make contact unless pressed against.it is not pressed against.. The cells in a laboratory are pressed into contact by hydraulic presses or bolt tightening from the outside, but this cannot be done for cells that are mounted on vehicles. The maximum constraint pressure allowed in actual vehicles is at most several atmospheres to tens of atmospheres.
the number 6,000 atmospheres refers toIt’s not about the performance not being achieved, but rather that the performance has not been reduced to the constraint pressure that can be established in a real car.This is what they are saying. CATL keeps repeating ‘We have solved the scientific problems, but there are still engineering issues remaining’, which probably refers tothe work of reducing the magnitude of the pressureThe article is referring to this, but the company does not explain it that way. Unconfirmed / Future。
11. The risks this company faces
| Risks | Content | Classification |
|---|---|---|
| Postponement of the target period | The statement ‘Production in small lots by 2027’ was the last response given in May 2025, and during the performance explanation meeting in March 2026, it did not mention the timing but only said ‘More time is needed’. | fact |
| External verification is not possible | Investment amount, personnel, production capacity, energy density, and electrolyte system are all undisclosed, making it impossible to verify progress externally | Unconfirmed / Future |
| The company’s liquid products will compete with those of competitors | The company lists only liquid and sodium-based products as new products in its annual and semi-annual reports. Without outperforming these in both performance and cost, solid-state batteries are not chosen internally | speculation |
| Risks associated with new product and new technology development | The company itself explicitly lists the risk item. ‘If we cannot maintain our top position in research and development capabilities, there is a possibility that market competitiveness and profitability will be affected.’ | fact |
| Fluctuations in raw material prices | The company itself explicitly lists the risk item. It was recorded that the prices of lithium carbonate for batteries and other materials clearly increased in the first half of 2026. | fact |
| Customers start making it on their own | If automobile manufacturers move towards manufacturing batteries internally, the position of battery specialists will weaken. All-solid-state batteries could be a turning point for this transition. | speculation |
12. Glossary
- All-Solid-State Battery (All-Solid-State Battery)
- A battery that uses a solid electrolyte instead of a liquid one. In Chinese, it is called “quán gùtài diànchí” (all-solid-state battery).
- Half-solid-state battery (half-solid battery)
- A battery that uses a gel-like or quasi-solid electrolyte while retaining some liquid electrolyte. It is distinct from solid-state batteries.
- solid-state battery
- CATL announced a high-energy density battery in 2023. The cell has a maximum energy density of 500 Wh/kg. The state of the electrolyte is not disclosed.
- solid-solid interface
- The surface where a solid electrode and a solid electrolyte are in contact. If not pressed, the contact is poor and it peels off easily due to expansion and contraction during charge-discharge.
- Self-generated negative electrode
- A configuration that does not place the negative material beforehand but instead allows lithium metal to precipitate on the collector during charging.
- GWh
- Gigawatt-hour. A unit for measuring battery capacity. 1 GWh is roughly equivalent in scale to the capacity of about 10,000 to 20,000 electric vehicles.
- Investor Relations Activity Record
- A legal disclosure document that a listed company in China submits and makes public to the securities exchange regarding its investor relations content.
- Battery swapping
- A method of exchanging battery packs at a station without charging them first.
AI-generated conceptual diagram13. Source
- CATL Annual Report for 2025 (Submitted to Shenzhen Stock Exchange on March 10, 2026). Operating income, net profit, research and development investment amount, number of research and development personnel, employee count, production capacity, sales volume, 11 major research and development projects, product list, founding date and history of listing in Hong Kong, risk factors. https://disc.static.szse.cn/download/disc/disk03/finalpage/2026-03-10/f019f96b-b960-410b-b88f-08838a36d81b.PDF
- CATL 2026 Semiannual Report (Submitted to Shenzhen Stock Exchange on July 25, 2026). Patent Count: 60,319; Description of Products Released in the First Half of the Year; Risk Mitigation Strategies for Solid Batteries; Description of Raw Material Prices. https://disc.static.szse.cn/disc/disk03/finalpage/2026-07-25/8e6750da-b178-4be9-a74a-4b1d8fc42c58.PDF
- CATL Investor Relations Activity Record Form (Implemented on May 14, 2025, Released on May 15, 2025). ‘Continuously committed to investing in all-solid-state batteries. Technology is at the top level of the industry. Anticipate achieving small-scale production by 2027.’ Response. https://static.cninfo.com.cn/finalpage/2025-05-15/1223547552.PDF
- CATL Investor Relations Activity Record Form (Implemented on July 30, 2025, Released for Public Disclosure on July 31, 2025). ‘Accumulation of over ten years of research and development,’ ‘Scientific issues are largely resolved, engineering issues remain.’ https://static.cninfo.com.cn/finalpage/2025-07-31/1224343388.PDF
- CATL Investor Relations Activity Record Form Number 2026-001 (Explanation Meeting for the 2025 Annual Performance in March 9, 2026). Engineering issues of solid-state batteries and market launch conditions. Sales volume of 661 GWh in 2025, construction-in-progress production capacity of 321 GWh. Obtained the statutory disclosure document from the following mirror as referenced in this article. https://file.finance.sina.com.cn/cn/diaoyan/jgdy/2026/2026-03/2026-03-10/10175776_1.PDF
- CATL Hong Kong Listing Memorandum (GLOBAL OFFERING, May 12, 2025). Mention of solid-state battery with 500Wh/kg capacity, definition in the glossary, company overview. https://www.catl.com/en/uploads/1/file/public/202505/20250512071033_9of2dqw816.pdf
- CATL Recorded speech by Yang Yuanqing on the official website titled ‘Co-creating the Era of High Standards for Battery Power’ (September 1, 2024). Solid-solid interface, maturity level 1 to 9 at around 4, boundary condition of 6,000 atmospheres. https://www.catl.com/news/8022.html
- CATL Recorded speech by Yang Yuanqing on the official website (November 12, 2025). ‘Advancements in research and industrialization of all-solid-state batteries are at the forefront of the world.’ https://www.catl.com/news/9226.html
- CATL Official website (company overview, logo source). https://www.catl.com/
14. Table of Correspondence between Claims and Sources
| Main Argument in the Body | Classification | Sources |
|---|---|---|
| Official name, headquarters location, listed market, founding date and month | fact | Source 1 https://disc.static.szse.cn/download/disc/disk03/finalpage/2026-03-10/f019f96b-b960-410b-b88f-08838a36d81b.PDF |
| Operating income, net profit, research and development expenditure (2023-2025) | fact | Source 1 https://disc.static.szse.cn/download/disc/disk03/finalpage/2026-03-10/f019f96b-b960-410b-b88f-08838a36d81b.PDF |
| Employees 185,839, Research and Development personnel 22,901, PhDs 745 | fact | Source 1 https://disc.static.szse.cn/download/disc/disk03/finalpage/2026-03-10/f019f96b-b960-410b-b88f-08838a36d81b.PDF |
| Sales volume 661 GWh, Production volume 748 GWh, Production capacity 772 GWh, Utilization rate 96.9%, Foreign sales ratio 30.60% | fact | Source 1 https://disc.static.szse.cn/download/disc/disk03/finalpage/2026-03-10/f019f96b-b960-410b-b88f-08838a36d81b.PDF |
| There are no all-solid-state batteries in the main research and development projects 11 | fact | Source 1 https://disc.static.szse.cn/download/disc/disk03/finalpage/2026-03-10/f019f96b-b960-410b-b88f-08838a36d81b.PDF |
| Construction capacity of 321 GWh, sales volume in 2025 of 661 GWh | fact | Source 1-5 https://file.finance.sina.com.cn/cn/diaoyan/jgdy/2026/2026-03/2026-03-10/10175776_1.PDF |
| Patent 60,319 pieces, no solid-state battery included in the products announced during the first half period | fact | Source 2 https://disc.static.szse.cn/disc/disk03/finalpage/2026-07-25/8e6750da-b178-4be9-a74a-4b1d8fc42c58.PDF |
| ‘It is expected to achieve small-batch production by 2027.’ | fact | Source 3 https://static.cninfo.com.cn/finalpage/2025-05-15/1223547552.PDF |
| ‘After more than ten years of accumulation,’ ‘scientific issues are largely resolved, but engineering issues remain.’ | fact | Source 4 https://static.cninfo.com.cn/finalpage/2025-07-31/1224343388.PDF |
| ‘It will only be released into the market when it has fully comprehensive performance and safety, and when it truly meets the mature commercialization conditions.’ | fact | Source 5 https://file.finance.sina.com.cn/cn/diaoyan/jgdy/2026/2026-03/2026-03-10/10175776_1.PDF |
| Solid-state batteries have a maximum of 500Wh/kg per cell | fact | Source 6 https://www.catl.com/en/uploads/1/file/public/202505/20250512071033_9of2dqw816.pdf |
| The solid-solid interface is the most challenging, even with industry-leading maturity at around 4, under a boundary condition of 6,000 atmospheres | fact | Source 7 https://www.catl.com/news/8022.html |
| The claim that ‘the research and industrialization progress of all-solid-state batteries are at the forefront of the world’ | fact | Source 8 https://www.catl.com/news/9226.html |
| Classification of three types of all-solid-state batteries (Automotive / Battery / Startup) | Calculations in this article | Arrangement by this article. Company names are exemplified from the 23 companies in this series |
| Solid-state batteries use electrolytes that are solid or semi-solid | Unconfirmed / Future | Neither is mentioned in any disclosure document. This article does not definitively state whether they are semi-solid or fully solid https://www.catl.com/en/uploads/1/file/public/202505/20250512071033_9of2dqw816.pdf |
| All-solid-state battery electrolyte system (sulfide system, etc.), energy density, cycle number | Unconfirmed / Future | Not mentioned in any disclosure documents. Estimations are not made in this article https://disc.static.szse.cn/download/disc/disk03/finalpage/2026-03-10/f019f96b-b960-410b-b88f-08838a36d81b.PDF |
| Number of personnel dedicated to all-solid-state batteries, investment amount, production sites, production capacity, and vehicle models equipped with them | Unconfirmed / Future | All non-disclosed. Numerical values based on reports are not adopted https://disc.static.szse.cn/download/disc/disk03/finalpage/2026-03-10/f019f96b-b960-410b-b88f-08838a36d81b.PDF |
| Partnerships for all-solid-state batteries, university collaborations, startup investments | Unconfirmed / Future | No mention in sources 1-6. This paper does not assert that it does not exist. https://disc.static.szse.cn/download/disc/disk03/finalpage/2026-03-10/f019f96b-b960-410b-b88f-08838a36d81b.PDF |
| It is interpreted as being positioned as a technical insurance rather than a revenue source for solid-state batteries in the near term. | speculation | The interpretation of this paper based on the omission from major research and development projects. |
| It is interpreted as meaning that 2027 will be close to the scale of supply for evaluation samples. | speculation | The interpretation of this paper based on the absence of ‘small batch production’ and quantity targets. |
| It is interpreted as meaning that the intention is not to disclose the material system. | speculation | This article observes that in other technologies, there are no numbers for details, unlike solid-state only. |
| The reading is that ‘engineering problems’ refer to tasks that reduce the constraint pressure. | speculation | The explanation of this article is based on a description of 6,000 atmospheres. |
| The risks include internal competition with the company’s own liquid products and customer localization. | speculation | The interpretation of this article is from the perspective of product composition and battery specialization. |
Last Updated: September 23, 2026 / Troy Technical
The numbers in this article are based solely on the legal disclosure documents submitted by Ningde Times to Shenzhen Stock Exchange and Hong Kong Exchanges and Clearing Limited, as well as the transcripts of speeches posted on the company’s official website. We have not used the estimates or figures from research firms or news reports. The amounts are expressed in Renminbi as disclosed, without any currency conversion. The ‘estimated’ sections are interpretations derived from primary information within this article and do not reflect the company’s official statements.