In Q1 this year, CATL saw its net profit attributable to shareholders increase by 558% year-over-year (YoY) hitting 9.8 billion yuan ($1.4 billion), but 25% lower than the profit recorded in Q4 2022. The company also saw its revenue up 83% YoY but similarly down 24% relative to Q4 2022. This level of profit seems horribly low for the company with nearly 40% of the global battery industry in its order books, but CATL is taking the route of expanding as much as it possibly can before accepting significant profits, as it is still looking to massively increase battery manufacturing capacity to the point of doubling its worldwide capacity for 2025. CATL’s explosive growth within the last year can be…