The Charged

The African Development Bank approved $113.9 million in financing for Gotion Power Morocco’s integrated lithium iron phosphate battery manufacturing project in the Rabat-Salé-Kénitra industrial region. The initial project represents approximately $1.37 billion of investment. Phase 1 is designed for 10 GWh of annual production, with the site capable of expanding to 100 GWh. Manufacturing will span cathode and anode materials, LFP cells and battery packs. The Bank also intends to mobilize up to $160.6 million from development and commercial financing partners. The first phase is expected to create more than 600 direct jobs, target approximately 70% local industrial integration and serve primarily European automotive and energy-storage customers.

CATL reported first-half 2026 operating revenue of $40.84 billion, up 54.8% year over year, while net profit attributable to shareholders reached $6.38 billion, approximately 42% higher. Second-quarter revenue rose 56.9% to $21.80 billion and quarterly net profit increased 36.5% to $3.32 billion. EV battery systems generated approximately $28.33 billion, or 69.4% of total revenue. Energy-storage batteries accounted for about 19.2% of revenue, with segment revenue rising 87.5%. CATL held approximately 40.2% of the global EV battery market during January–May 2026 and about 29.9% of the global energy-storage battery market. Gross margin was approximately 20.6% for EV batteries and 24.0% for energy storage. CATL also announced a proposed $2.95–5.90 billion A-share repurchase programme.

Spain approved the regulatory framework for the Auto+ Programme, a centrally managed $455.7 million incentive scheme supporting electric and electrified vehicle purchases under the wider Auto 2030 strategy. The programme applies retroactively to qualifying purchases made from 1 January 2026 and covers passenger cars, vans, light trucks, motorcycles and quadricycles. Eligible applicants include private individuals, self-employed buyers, micro-enterprises and SMEs. Reported grant levels reach up to $5,126 for qualifying private passenger-car buyers and up to $6,835 for self-employed buyers and micro-enterprises, subject to vehicle and eligibility conditions. Vehicles without Spain’s ZERO-emissions classification are excluded. Electrified vehicles represented approximately 23% of Spanish vehicle sales when the programme was approved.

CATL and Bulgarian renewable-energy company Solarpro Technology signed a strategic cooperation agreement covering 2 GWh of sodium-ion battery energy-storage systems for Central and Eastern Europe. The partnership will use CATL’s TENER Sodium platform and targets the region’s first large-scale sodium-ion storage project, with initial deployment planned during 2026. CATL states that the system can support up to 15,000 charge-discharge cycles, corresponding to an estimated 25–30-year operating life, and retain 92% of usable capacity at –20°C. The contract value, individual project sizes, delivery schedule and first installation locations were not disclosed.