Tesla and Volkswagen.
China's Contemporary Amperex Technology Co Limited (CATL) produces more than a third of all EV batteries sold worldwide and supplies major carmakers including Tesla, Volkswagen and Toyota.
The listing was closely watched as the US-China tariff war upended the global trading system and hit carmakers hard.
In January, the US Department of Defense added the battery maker to a list of businesses it says works with China's military. CATL denies this, claiming its inclusion on the list was a "mistake".
The company raised almost HK$35.7bn ( $4.55bn, £3.4bn) from the listing, with its shares climbing by as much as 18%.
Chinese EV makers such as BYD. These efforts also come amid increased scrutiny from the U.S. and EU, which placed punitive tariffs on EVs made in China last year, citing unfair trade practices.
CATL also found itself in the crosshairs of U.S.-China trade earlier this year, with the Pentagon putting it on a watchlist in January over suspected links to China’s military — allegations the company has rejected.
CATL shares if they invest through offshore accounts. But that would still leave a hole. Some 10 percent of American investors would have probably invested in its stock if not prevented from doing so, said Victor Shih, a specialist in Chinese finance at the University of California, San Diego.
Despite facing scrutiny regarding its alleged connections to the Chinese military—claims that CATL has vehemently denied—the company's successful market entry reflects an enduring appetite among international investors for innovative technology firms from China . Furthermore, CATL's plans to utilize IPO proceeds for expanding its Hungarian factory indicate a strategic move to enhance production capabilities and cater to European customers more effectively. This development highlights both the challenges and opportunities that characterize the rapidly evolving landscape of global energy solutions.
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