WEEK IN REVIEW: CATL Matches BYD’s Fast-Charging Breakthrough

CATL launches Hong Kong IPO to raise $4B in city’s biggest 2025 listing. The EV battery giant eyes overseas growth amid US scrutiny and China EV boom.
The headquarters building of Chinese EV battery giant CATL (Contemporary Amperex Technology Co., Limited) in Ningde, in southeast China's Fujian province on November 15, 2024. GREG BAKER / AFP

Chinese Foreign Minister Wang Yi will travel to Kazakhstan on Friday for the Sixth China-Central Asia Foreign Ministers’ Meeting. The visit will also include a strategic dialogue with his Kazakh counterpart. From there, he will move on to the BRICS Foreign Ministers’ meeting in Brazil on Monday. (CHINESE FOREIGN MINISTRY)

Brazilian President Luiz Inácio Lula da Silva’s top foreign policy adviser, Celso Amorim, said China and the emerging powers making up the BRICS bloc will increasingly guard global cooperation in the face of disruptive measures from the Trump administration. In an interview with the Financial Times, he said, “As the United States steps back from multilateralism, from the economic and social order which they themselves created after the Second World War, the space for the BRICS increases.” (FT)

The government of the Democratic Republic of Congo is reportedly in negotiations with the Chinese weapons-maker China National Aero-Technology Import & Export Corporation (CATIC) to acquire three autonomous military aircraft. The possible drone purchase is part of plans to counter the M23 militia in the east of the country. (AFRICA INTELLIGENCE)

Great Wall Motor is looking for opportunities to use Brazil as a base for vehicle production and expand to nearby regions, the Chinese carmaker’s chairman said. The impact of U.S. tariffs on Chinese automakers “is there, but not big,” said chairman Wei Jianjun. [REUTERS]

Saudi Arabia-headquartered investment firm The Arab Energy Fund has agreed to provide a $100 million private loan to Chinese oil company United Energy Group Ltd., according to a person familiar with the matter. Proceeds of the five-year financing would be used to repay loans, with some of the capital earmarked for oil fields the company operates in Iraq. [BLOOMBERG]

China has reportedly launched the world’s first 10G broadband network. The 10G broadband network is a collaborative work between Huawei and China Unicom, a state-owned telecom service provider[91 MOBILES]

The Trump administration signaled a possible de-escalation in the current trade war with China. President Trump told reporters he would be “very nice” to China in negotiations and that the tariffs would fall significantly if a deal is reached, but not to zero. Speaking at the IMF and World Bank spring meetings, U.S. Treasury Secretary Scott Bessent called the current tariffs “unsustainable” but said negotiations with Beijing have not started yet. (REUTERS)

The Chinese tech giant Huawei will reportedly start mass shipments of a new AI chip to Chinese customers by next month, with early shipments already taking place. The Huawei 910C AI chip will replace Nvidia’s H20 AI chip. The latter is a lower-performance chip specifically designed around U.S. export restrictions to China, but the Trump administration imposed additional regulations on its export, causing a big dent in Nvidia’s trade and leaving Chinese AI firms scrambling for alternatives. (REUTERS)

An armed group set fire to the construction site of a Chinese-led hydropower plant in Chile. They subdued security guards and burned 45 trucks and five earth-moving machines. China’s Foreign Ministry condemned the attack, and the Chilean side called it terrorism. The Rucalhue hydropower plant has been opposed by indigenous communities for its environmental impacts. (ENERGYNEWS)

The Chinese battery maker CATL announced it had equaled recent advances in high-speed charging achieved by its rival BYD. A five-minute charge will reportedly provide a range of 520 km, compared to BYD’s 470 km. It is part of several new advances, including lighter batteries that are more resistant to cold. On Monday, CATL also launched Naxtra, its new brand of sodium-ion batteries that don’t use expensive battery metals and reduce the risk of EVs catching fire. (FT)

Iran’s Foreign Minister Abbas Araqchi will visit China on Tuesday, ahead of the country’s third round of nuclear talks with the United States on Saturday. “It is natural that we will consult and brief China over the latest developments in Iran-U.S. indirect talks,” Foreign Ministry spokesperson Esmaeil Baghaei said. The meeting comes as the Trump administration has also put pressure on oil trade between China and Iran. (REUTERS)

The Chinese manufacturer of metals used in electric vehicles, Tengyuan Cobalt Industry New Materials, will build a $134.2 million copper and cobalt refining facility in the Democratic Republic of Congo. It will be its second processing plant in the country, and will be set up with a local partner in Lualaba Province. The new plant will produce 30,000 tons of refined copper and 2,000 tons of cobalt salts per year. (YICAI)

Thai authorities said they have arrested a Chinese executive at a company that was building a Bangkok skyscraper which collapsed in a major earthquake, leaving dozens dead. [AFP]

US and Philippine forces are to conduct their first “full battle test” for fighting together in flashpoints such as Taiwan or the South China Sea. This year’s Balikatan exercises, the two countries’ main bilateral annual drill starting on Monday, will combine elements practised over the past two years. [FT]

A new study has shed light on how the geopolitical rivalry between the United States and China is playing out at the local level in the Philippines, with provincial support for national security strategies often shaped by economic ties and exposure to Chinese activities in the South China Sea. [SOUTH CHINA MORNING POST]

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