《CATL: The $280 Billion Company You've Never Heard Of | Bull vs. Bear w/Stig, Manish, & Ralph》
卡特彼勒的投资是对垂直整合的竞争优势布局，而非追求财务回报；将其约110亿美元的长期股权投资按账面价值计入后，有效估值倍数从18倍降至17倍营业利润。
但CAT还在做的是，他们正在为这些换电站增加超级充电桩。因此，同一个站既可以服务换电，也可以服务固定电池车辆。
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.
是的，我认为CAT的投资组合更多是战略性的，而非财务性的。这有助于他们实现垂直整合。它涵盖了从上游矿业公司到下游汽车制造商以及储能系统中的电力基础设施参与者。
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.