CATL, a chinese battery and technology company listed in Shenzhen stock exchange (300750.SZ).
Currently trading at CNY 247.17, the share price has a YTD performance of +129%.
The company was listed in 2018 at CNY 25.14 and has its headquarter in Fujian province. I also just learned that Fitch has a BBB+ rating for CATL.
Some of the key drivers for the staggering share price movement could be due to media reports that CATL will supply batteries for Tesla’s factory based in Shanghai. The company has also invested in Germany to build a USD 2B battery factory and this plant will be BMW for their battery needs.
It is also interesting to note that CATL is currently ranked #1 and has a market share of 26.1% in the EV battery market.
The company is also developing a new EV battery that contains no nickel or cobalt. These are key ingredients in the current battery manufacturing process and the cost remains high. The company is also looking to develop technology to integrate battery cells directly into the EV’s frame. This will increase the driving range.