About one in three electric cars have a CATL battery under their hood. — Bloomberg
BEIJING: It’s hard to overstate the reach Contemporary Amperex Technology Co Ltd (CATL) has in the world’s electric car market.
CATL, as the company is formally known, ranks among the biggest Chinese firms to ever be blacklisted by the Pentagon.
But it’s its extensive presence across automobile supply chains that has the potential to severely upset the world’s car industry should automakers have to find an alternative.
About one in three electric cars have a CATL battery under their hood.
As the industry’s dominant supplier, it’s little wonder some may feel nervous now CATL is in the spotlight after being cited by the US Defence Department for alleged links to the Chinese military.
Other companies now in that basket include gaming giant Tencent Holdings Ltd. While the designation only impacts each company’s ability to supply to the US military, there’s the tough to quantify – and more problematic – reputational hit.
Ningde, Fujian-based CATL has a who’s who of global automakers as its customers, stretching from Elon Musk’s Tesla Inc to Ford Motor Co, Volkswagen AG, Stellantis NV and Japan’s Honda Motor Co. — Bloomberg
