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June 30, 2021

CATL shares jump on extended Telsa deal

News of an extended supply contract with a major EV maker has boosted a Chinese battery maker's shares to a record level.

By Graeme Roberts

China’s leading electric vehicle (EV) battery manufacturer Contemporary Amperex Technology (CATL) said it had extended its supply contract with Tesla , sending its share price up by 3% to an all-time high on the Shenzhen Stock Exchange.

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In a filing to the stock exchange, CATL confirmed its existing two-year lithium-ion battery supply contract with the US EV maker, which was due to expire in June 2022, had been extended until the end of 2025.

CATL said in a statement: “The agreement to extend the contract confirms Tesla ‘s acknowledgment of our product quality and production capability in power batteries and will help boost the long-term sustainable partnership between the two parties.”

Shares in CATL have surged by 58% since March, valuing the company at over CNY1trn (US$155bn), as investors recognise the huge potential growth in EV battery demand.

CATL supplies battery packs for most global automotive brands, including for the Tesla Model 3 and Model Y vehicles produced in Shanghai.

The company has invested heavily to expand battery production capacity, including CNY39bn to build three new factories in China last year.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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