The largest manufacturer of EV batteries is planning mega-IPO in Hong Kong

The largest manufacturer of EV batteries is planning mega-IPO in Hong Kong

The Contemporary Amperex Technology Co., Ltd. (CATL), the world's largest manufacturer of batteries for electric vehicles and suppliers of Tesla, has applied for a listing in Hong Kong. The company has been aiming for one of the largest IPOs in the city for years.

financial goals of Catl

The battery giant expects to take at least $ 5 billion, as Reuters reports. This would be the second listing of CATL after the company collected $ 6.7 billion in an IPO in an IPO on the Shenzhen exchange.

expansion plans in Europe

The battery manufacturer based in Ningde, Fujian, which also supplies BMW, Volkswagen and Ford, had already announced his intention in December last year to be listed on the Hong Kong stock exchange. This is part of a plan to expand the company's global presence. Part of the funds collected is to be used to expand corporate presence in Europe, especially for the construction of the work in Hungary, such as from a Design of the application that was submitted to the Hongkger Börse on Tuesday.

Details for the listing of the stock exchange

Important details, including the number of shares to be output, and the total amount to be uploaded, were anonymized. The company also did not state a time frame for the list. CNN has contacted Catl for further comments.

global production facilities from Catl

According to information in the submission, CATL operates 13 batteries worldwide until last year, including China and Germany. The company previously announced that it would work on a joint venture in Spain with Stellantis, the owner of Fiat and Chrysler, to build a battery factory. Catl plans for separate battery -pulled projects in Indonesia.

geopolitical challenges

The planned offshore list of Catl takes place against the background of worsening geopolitical tensions, which exposes risks and uncertainties in its operating processes, including tariffs. The application did not deal with the 10%customs fee on Chinese imports recently raised by US President Donald Trump.

blacklisting and reaction of Catl

Last month, the Pentagon Catl added to its black list of companies that are said to work with the Chinese military, which excluded the company by the Ministry of Defense. CATL described this classification as "error" and explained that "work proactively with the Ministry of Defense" to clarify the wrong classification.

market dominance of Catl

CATL was the largest provider of electro-reed batteries worldwide in 2024 and kept an impressive market share of 38%, such as SNE Research, a market research and consulting company. In the application, Catl said that the company's batteries were used in every third electric vehicle until the end of last year, which corresponds to around 17 million vehicles.

financial performance and market development

The company recorded sales of 400.9 billion yuan ($ 54.8 billion) in 2023 and sales of 259 billion yuan ($ 35.4 billion) in the first three quarters of last year.

changes in the automotive market

In view of the withdrawal of foreign companies from China due to the increasing geopolitical risks and an deteriorating economy, some automobile manufacturers are increasingly relying on the largest automotive market in the world.

Current developments at Tesla and Toyota

On Tuesday, the US electric vehicle giant Tesla (

In the meantime, Toyota ( tm ) Last week. Should begin in 2027.