Chinese Carmakers Try to Break Free from the CATL Herd
The highly profitable battery making giant dominates the global and domestic market. Now, struggling EV manufacturers are pushing back with their own products.
A visitor passes by the booth for Chinese battery maker CATL during Auto China held in Beijing, China, April 25, 2024. Credit: Ng Han Guan via AP Images
Four years into a vicious price war, the Chinese electric vehicle industry has turned towards a new target.
Source: CompaniesMarketCap
Contemporary Amperex Technology Co. (CATL) has long dominated the car battery market and absorbed much of the auto sector’s profits. But a growing number of Chinese carmakers are now seeking cheaper alternatives. From Li Auto to Xiaomi, companies are shifting towards lower-tier suppliers or designing their own batteries.
The trend, dubbed
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