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Current Affairs

As Chinese carmakers diversify beyond CATL batteries, Beijing warns of market overreaction

A publication under China’s industry ministry has pushed back against market chatter of “de-CATLisation” as a growing number of the battery giant’s automotive partners diversify…

By Samantha Johnson / September 23, 2026

A publication under China’s industry ministry has pushed back against market chatter of “de-CATLisation” as a growing number of the battery giant’s automotive partners diversify their suppliers, with the company’s shares falling recently.

The commentary, published by the news centre of the Ministry of Industry and Information Technology (MIIT), said supplier diversification and in-house battery projects are standard commercial practices. Such moves should not be portrayed as deliberate attempts to weaken leading battery makers like Contemporary Amperex Technol­ogy Limited (CATL) or drive a wedge between carmakers and suppliers, it said.

The publication followed several Chinese carmakers, including Xiaomi, Li Auto and Xpeng, expanding partnerships with battery suppliers other than CATL or announcing plans to develop batteries in-house. The moves this month have fuelled talk of a shift away from the industry giant and speculation about its market position.

By Wednesday, CATL’s Shenzhen-listed shares had fallen about 25 per cent from their mid-August level and nearly 35 per cent from a record high reached in early May. The shares were down 1.19 per cent on the day.

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