World’s Largest EV Battery Maker Makes A Blockbuster Debut In Hong Kong, Largest Listing Of 2025

China's CATL defies geopolitical tensions with a record-breaking IPO. Contemporary Amperex Technology Co. Ltd. (CATL), the world's leading EV battery manufacturer, raised $4.6 billion in its Hong Kong debut — the largest IPO globally in 2025. Shares surged over 16% on the first day, reflecting strong investor confidence despite the company's recent addition to the U.S. Pentagon's blacklist over alleged military ties. Founded in 2011 by Robin Zeng, CATL dominates 38% of the global EV battery market and supplies major automakers like Tesla, Volkswagen, Ford and BMW. The funds from the IPO will support CATL's international expansion, including a $7.3 billion plant in Hungary. While U.S. investors faced restrictions due to the Pentagon's designation, global interest remained robust, with significant investments from entities like Kuwait’s sovereign wealth fund and Oaktree Capital. CATL continues to challenge geopolitical headwinds, emphasizing its commitment to leading the global zero-carbon transition.