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CATL Shares Plunge Nearly 25% as Automakers Shift Batteries

By Drooid · Sep 23, 2026, 3:47 PM UTC · How we work

Summary

Story summary

CATL shares dropped nearly 25% as Chinese automakers broaden battery suppliers.
Li Auto invested 2.65 billion yuan to become Sunwoda’s second-largest shareholder and use its batteries.
Xiaomi announced joint battery development with CALB and broader supply-chain cooperation, moving away from CATL.
Xpeng increased battery sourcing from EVE Energy, further reducing reliance on CATL.
CATL reported first-half net profit of 43.28 billion yuan, double the 21.05 billion yuan of 15 listed Chinese automakers.

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Story summary

CATL shares dropped nearly 25% as Chinese automakers broaden battery suppliers.
Li Auto invested 2.65 billion yuan to become Sunwoda’s second-largest shareholder and use its batteries.
Xiaomi announced joint battery development with CALB and broader supply-chain cooperation, moving away from CATL.
Xpeng increased battery sourcing from EVE Energy, further reducing reliance on CATL.
CATL reported first-half net profit of 43.28 billion yuan, double the 21.05 billion yuan of 15 listed Chinese automakers.