**Tesla Battery Maker CATL Sees Strong Hong Kong Debut Amid Global Expansion**
Shares of Contemporary Amperex Technology Co Limited (CATL), the world’s largest electric vehicle (EV) battery manufacturer, surged as much as 18% on its Hong Kong stock market debut, marking the biggest initial public offering (IPO) of 2024. The company raised HK$35.7 billion ($4.55 billion), underscoring investor confidence despite geopolitical tensions. CATL, which supplies Tesla, Volkswagen, and Toyota, produces over a third of all EV batteries globally. While the U.S. Department of Defense previously listed CATL as allegedly linked to China’s military—a claim the company denies—its limited U.S. sales shield it from major tariff impacts, according to analysts.
**Global Growth and Technological Leadership**
Founded in 2011 in Ningde, China, CATL has rapidly expanded alongside the booming EV industry, now employing over 100,000 people across 13 global production plants. The company is building a second European factory in Hungary, following its German facility opened in 2023, and recently partnered with Stellantis to construct a $4.3 billion battery plant in Spain. CATL also leads in innovation, unveiling a fast-charging battery capable of powering an EV for 323 miles (520km) in just five minutes. Despite its dominance, U.S. lawmakers have raised security concerns, with some urging financial institutions to avoid involvement in CATL’s Hong Kong listing.
**Balancing Geopolitical Risks and Market Opportunities**
While CATL relies heavily on China—which contributes nearly 70% of its revenue—its aggressive international expansion mitigates risks from U.S.-China trade tensions. Analysts note that Washington’s skepticism toward Chinese clean-tech firms could hinder global renewable energy progress, as CATL remains a key player in advancing battery technology. With a trillion-yuan valuation in Shenzhen and a strong Hong Kong debut, CATL’s growth trajectory highlights both its market strength and the challenges of operating amid rising geopolitical scrutiny.
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