NLC's Investor CATL News Only can read the top part from WSJ. Glad NLC has a deep pocket investor.
tiger
Tesla Battery Supplier CATL Rides EV Boom to $200 Billion-Plus Valuation
The Chinese company has been boosted by deals with Tesla and others, plus record sales growth at local EV makers.
China’s battery champion is drawing strength from the electric-vehicle boom.
Shares of Contemporary Amperex Technology Co . have soared 62% this year, as of Thursday. That has given the company, also known as CATL, a market value of roughly $203 billion, making it the third-largest business listed in mainland China.
The rally has outpaced rises for rival battery makers Panasonic Corp . of Japan, whose shares have gained 10.5%, and LG Chem Ltd . in South Korea, which logged a slight drop in the same period. CATL has also outperformed EV makers such as Tesla Inc . , NIO Inc . and XPeng Inc . , whose shares have struggled after surging last year.
The stock has been boosted by recent deals signed with Tesla and others, plus record sales growth at China’s NIO, XPeng and Li Auto Inc . , said Kelvin Lau, an analyst at Daiwa Capital Markets. The three Chinese companies all buy lithium-ion batteries from CATL, which is based in the southeastern province of Fujian.
In June, CATL extended a deal to supply Tesla’s Shanghai factory with battery packs until 2025. It has also recently secured new customers including Mercedes-Benz , a unit of Germany’s Daimler AG.
https://www.wsj.com/articles/tesla-battery-suppliercatlrides-ev-boom-to-200-billion-plus-valuation-11626338146