The Investor's PodcastPublished 2026-08-22
“CATL: The $280 Billion Company You've Never Heard Of | Bull vs. Bear w/Stig, Manish, & Ralph”
$CATNo side taken
CAT's investments are a competitive advantage play for vertical integration rather than financial returns; including their ~11B long-term equity investments at book value reduces the effective valuation multiple from 18x to 17x operating profit.
But what CAT is also doing is that they are adding superchargers to these swapping stations. So the same station can cater to both a battery swapping as well as fixed battery vehicles.
Yeah, I like I think the CAT's investment portfolio I think is more strategic than financial. It helps them to achieve vertical integration. It spans upstream mining companies to downstream automakers and power infrastructure player in the energy storage system.