The Silent Empire of Chinese Batteries Changing the World

The Chinese giant CATL (Contemporary Amperex Technology Co. Ltd.) is making a dynamic entry into the international stock market and industrial scene, expanding its 'factory-city'.

On May 20, 2025, Zeng Yuqun, founder and chairman of CATL, announced the start of the world's largest public offering for this year on the Hong Kong Stock Exchange, amounting to 4 billion euros. CATL shares rose 16% on the first day.

CATL aims to channel the new funds into the construction of a giant unit in Hungary and the promotion of its European vision, which also includes the gigafactory under construction in Zaragoza, Spain, in collaboration with Stellantis.

CATL dominates the lithium-ion battery industry with a market share of almost 38%, far surpassing BYD (17%). Its customers include giants such as Tesla, Volkswagen, Ford and Mercedes-Benz. Despite a 9.7% drop in revenue in 2024, the company increased its net profit by 15%, exceeding 6.4 billion euros.

Zeng created CATL as an independent company with Chinese capital in 2011, receiving state support. In 2012, he signed an agreement with BMW, a milestone for global expansion.

Ningde operates as a 'factory-city', with over 130,000 employees fully dedicated to production. The US government blacklisted CATL in 2025, citing ties to the Chinese military program.