Hong Kong CNN —
China’s Contemporary Amperex Technology (CATL), the world’s largest producer of batteries for electric vehicles and a supplier for Tesla, has applied for a listing in Hong Kong, setting sights on one of the city’s largest stock offerings in years.
The battery giant expects to raise at least $5 billion, according to Reuters. This would be CATL’s second listing after it raised $6.7 billion in an IPO on China’s Shenzhen exchange in 2022.
The battery maker, based in Ningde, Fujian, which also supplies BMW, Volkswagen and Ford among others, first announced its
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