Batterymaker CATL tumbles on earnings miss, competition fears
CATL shares fell after it reported slower-than-expected profit growth amid intensifying domestic competition and EV price wars. The stock has nearly halved since May as investors weigh expiring tax carve-outs and a trend called “de-CATLization,” in which former customers such as Xiaomi and Li Auto source batteries from cheaper alternatives and plan to develop them in-house. CATL is also building more plants in Europe to avoid increasing EU protectionism.
Why it matters: The item bears on the briefing's China decoupling theme, with battery supply-chain dependence and EU protectionism shaping CATL's sourcing and plant decisions.