Cell & Pack Manufacturing
Pages 40–68 (29 pages)
Text on page 48
Cell & Pack Manufacturing
Overview Of Cell & Pack Manufacturers’ Margins
Overview Of Cell & Pack Manufacturers’ Margins
Margin Analysis Gross margins steadily declined over the last 5 years as material prices pressured midstream suppliers like cathode and anode manufacturers, which in turn reduced cell & pack manufacturing margins. Notably, CATL exhibited a linear decline from 30% to sub-20% gross margins, while net margins expanded aggressively as non-cost of goods sold expenses plateaued as a direct result of an expansion in economies of scale.
Source: CATL, Samsung SDI, LG Energy Solutions, CALB, Gotion
Extracted from the PDF; charts and images may read imperfectly.
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