CATL

Xpeng Motors Chairman and CEO He Xiaopeng denied recent media reports that he waited for a week at the office of power battery giant CATL to secure battery supply.

Xpeng Motors CEO He Xiaopeng personally waited a week at CATL to get the needed battery supply, the report said, citing previous media reports.

Growing rapidly alongside China's new energy vehicle industry is the energy storage industry.

In the past three months, CATL has gained about 80 percent, while Alibaba has fallen about 10 percent. In the last 2 years, CATL's share price has risen by more than 660 percent.

CATL's battery installations from January to May reached 27.6 GWh, with a global market share of 31.2 percent, 9.8 percentage points higher than the 22 percent of the same period last year, the data shows.

Robin Zeng, 52, has a net wealth of $43.9 billion, according to the Forbes Real-Time Billionaires List, making his debut in the top 30.

China's top CICC raised its price target on local power battery giant CATL after the company announced Monday that it has extended its battery supply agreement with Tesla.

CATL signed an agreement with Tesla to supply lithium-ion power battery products to it from January 2022 to December 2025.

The electrification of vehicles in China is touching almost every possible area.

As the world's largest power battery supplier, Nio and Tesla's battery supplier CATL is expected to further consolidate its leading position with the addition of more capacity.