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China's CATL, the world's largest battery maker for electric vehicles (EV), said on Thursday that third-quarter profit rose 10.7%, its weakest quarter since the start of last year as slowing demand and stiff competition hit. CATL saw its China market share tumble in September to the lowest in more than a year, data showed, underscoring the challenges it faces from smaller rivals and weakening demand in the world's largest electric vehicle market. "CATL is facing pressure in the near term, given competition from tier-2 battery makers who price their products at a discount to CATL, and weaker-than-expected lithium-ion battery demand," Citi analysts said in a note.