China’s CATL, the world’s biggest battery maker, raised $5 billion in a Hong Kong listing, welcome news for the firm as it looks to leverage booming demand amid soaring fossil fuel prices.
The company — which last week unveiled a landmark car battery with a 1,500-kilometer (930-mile) range that takes just six minutes to charge — has been boosted by the conflict in the Middle East; its stock price has jumped almost 25% since late February. Ever-growing demand for data center energy storage has further boosted its prospects.
The listing is also a boon for the Hong Kong stock market, which has seen raises totalling $31 billion so far this year, up 73% compared to 2025, Bloomberg reported.
