How CATL came to dominate the EV-battery market, and how it has positioned itself to reap rewards from the coming boom in renewable energy.
Credit: Martin Schutt/picture-alliance/dpa/AP Images
In early 2017, employees of Chinese battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) received an email from their boss, asking: “Will pigs fly?”
Buoyed by government subsidies, CATL was growing quickly and doing well financially. But its CEO and founder Zeng Yuqun was worried even so. Invoking the Chinese allegory, ‘when the typhoon comes, pigs will fly’, he questioned what would happen when the ‘typhoon’ of state subsidies for the electric vehicle ind
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