CATL Expands Globally After $5.2 Billion IPO, Targeting Europe With Battery-Swapping Push

Contemporary Amperex Technology Co. Ltd., the world's largest electric vehicle battery maker, is accelerating its global push following a $5.2 billion public listing in Hong Kongthe largest IPO of 2025 so far. CATL commands about 38% of the EV battery market and supplies major global automakers including Tesla (TSLA, Financials), Volkswagen (VWAGY, Financials), BMW (BMWYY, Financials), and Stellantis (STLA, Financials).

The company plans to deploy 90% of its IPO proceeds to support expansion, including its 7.6 billion ($8.2 billion) battery plant in Hungary, which is expected to begin production later this year. CATL already operates a facility in Germany and recently announced a new plant in Spain through a joint venture with Stellantis. It's also part of an integrated EV battery project in Indonesia, expected to start production in 2026.

As domestic margins face pressure from overcapacity and price warsespecially with rival BYDCATL is shifting more focus to Europe, where the regulatory and market landscape is seen as more favorable. The company is also planning to introduce battery-swapping and recycling technology in the region, a system popular in China but still nascent in Europe. Analysts say CATL's capital strength and partnerships give it a strong chance to establish a foothold in this emerging infrastructure segment.