Contemporary Amperex Technology Co., also known as CATL, the world’s largest maker of EV batteries, has raised $5 billion through a share sale in Hong Kong, according to The Wall Street Journal. This is the city’s biggest equity offering of 2026.
CATL was founded in 2011 in Ningde, Fujian province, by Robin Zeng Yuqun and Huang Shilin as a spin-off of Amperex Technology Limited, a battery manufacturer Zeng had co-founded in 1999, originally supplying lithium polymer batteries for consumer electronics, including iPhones.
The company supplies batteries to major automakers such as Tesla, Volkswagen, BMW, Stellantis, and many others, putting it at the heart of global electrification. It has factories in Hungary, Indonesia, and a profitable plant in Germany. CATL and Stellantis are building a battery plant in Spain that will start production by the end of 2026 and reach full capacity by 2030.
CATL’s closest global competitors are South Korea’s LG Energy Solution and Samsung SDI, and China’s BYD, which is both a battery manufacturer and a direct automotive competitor to CATL’s own customers.
The board has also approved a new subsidiary with 30 billion yuan in capital to operate its new-energy mining business. This move is part of a larger plan to control more of its supply chain, including a separate $4.4 billion mining expansion announced this month.
CATL will use the net proceeds of about HK$39.1 billion to expand its global capacity, develop zero-carbon businesses, invest in advanced technology research, and cover general corporate needs.
