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China warns against “de-CATLisation” chatter as shares slide

CATL’s Shenzhen-listed shares were down about 1.2% on the day and roughly 25% from mid-August, after the company faced renewed supplier diversification concerns.

Reported · Written up by our desk · China

A publication under China’s Ministry of Industry and Information Technology pushed back against market talk of “de-CATLisation,” after several Chinese automakers expanded partnerships with battery suppliers other than CATL or said they were developing batteries in house, according to SCMP Economy.

The ministry-linked commentary comes as the battery maker’s shares have fallen sharply, with CATL’s Shenzhen-listed stock down about 25.0% from its mid-August level by Wednesday.

By that point, CATL shares were also down nearly 35.0% from a record high reached in early May, SCMP Economy reported, adding the shares were down 1.19% on the day.

SCMP Economy said the commentary pointed to supplier diversification by CATL’s automotive partners rather than signaling a direct shift away from the industry leader.

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