Sep 09, 2022 03:49 AM

BUSINESS

CATL Shares Surge and Plunge on Turmoil in Key Lithium Project

By An Limin and Han Wei

CATL and Yongxing announced the joint venture in January in lithium-rich Yichun

CATL and Yongxing announced the joint venture in January in lithium-rich Yichun

Shares of Chinese battery giant Contemporary Amperex Technology Co. Ltd. (CATL) took a rollercoaster ride over the past few days reflecting market concerns over changes in the company’s 30,000 tons-a-year lithium carbonate project in southeastern China’s Jiangxi province.

Shenzhen-traded CATL closed down 5.15% Thursday, wiping out a 4.11% gain the previous day. The stock tumbled 2.81% Tuesday.

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