Headline: UNCAPTIONED: Tesla's Battery Supplier Soars in Record IPO Amid Global Tensions
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Tesla's Battery Supplier Soars in Record IPO Amid Global Tensions. China’s Contemporary Amperex Technology Co. Limited (CATL), the world's leading electric vehicle battery manufacturer, grabbed headlines with its Hong Kong debut, marking the largest IPO of the year to date. Shares soared by 18%, raising nearly $4.6 billion. CATL, which powers EV giants like Tesla, Volkswagen, and Toyota, now controls over a third of the global battery market. Amid ongoing tensions between the US and China and claims linking CATL to the Chinese military, which the company strongly denies, the battery giant continues its global expansion. It's building new factories in Hungary and Spain, following one launched in Germany in 2023. Founded in 2011, CATL has grown rapidly thanks to China's booming EV sector, which makes up 70% of its revenue. The firm now employs over 100,000 people and is pushing boundaries in battery tech, recently unveiling a model that can charge 520 kilometers in just five minutes. However, U.S. lawmakers remain wary, raising national security concerns about the company's global reach. Trump Announces Immediate Ceasefire Talks Between Russia and Ukraine.
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