China’s battery giant eyes global domination in Trump era

CATL pulled off the world’s biggest stock listing so far this year. But the global maker of EV batteries has become caught in US-China tensions.

CATL supplies 38 per cent of the global EV battery market. Getty

Jessica SierNorth Asia correspondent

May 25, 2025 – 2.01pm

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Rolling hills dominate the skyline of nondescript Ningde city on China’s southeastern coast, except for one structure. A massive glass building with a curving facade shaped like a giant lithium-ion battery pack rises over the metropolis.

This is the headquarters of the world’s largest battery maker, Contemporary Amperex Technology Company, or CATL. Since its founding in 2011, the company has enjoyed meteoric growth partly thanks to China’s state-sponsored support of renewable energy.

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Jessica SierNorth Asia correspondentJessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics.