Chinese Battery Giant’s Splashy IPO Highlights New Energy Tensions

Photo by Li Hongbo / CFoto / CFOTO via AFP

Shares in Contemporary Amperex Technology Co. (CATL) surged after the world’s largest maker of batteries made an eye-popping initial public offering (IPO) in Hong Kong. Stocks in the world’s largest battery-maker are up by 16% after it raised $4.6 billion in the world’s largest share listing this year. CATL is also listed in Shenzhen.

CATL made 38% of the world’s EV batteries in 2024 and contributes to China’s wider new energy technology edge. This makes it a factor in ongoing tensions between the United States and China. Onshore U.S. investors were barred from the share sale. This follows increasing tensions around the IPO, including calls from U.S. lawmakers for Wall Street to stay away. CATL didn’t explain why it barred most U.S. investors, but said: “We face risks associated with changes in trade policies or tariff regulations.”

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by CGSP Staff

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