It seems China centric, NIO and a few other Chinese brands. I do note that NIO is not profitable per vehicle, losing per vehicle. How many kwh's do NIO and the other Chinese brands consume relative to CATL's overall cell production.
Given the mix of CATL's global customers, it might only slightly weight on CATL margins, but the advertising has the desired effect, that's for sure, but we know its no longer a China only story. Read, listen to Joe Lowry's commentary. As OEM's are buying mines, that is indicative of 1. A tight market, and 2. A market wanting to diversify away from the concentration in China, its now a global play.
Good News & Bad News, page-23805
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