EV-Battery Giant CATL Teams Up With Thai Automaker

Electric-vehicle (EV) battery giant Contemporary Amperex Technology Co. Ltd. (CATL) has signed an agreement with Thai automaker Arun Plus Co. Ltd. to jointly manufacture batteries in the Southeast Asian country.

CATL announced the collaboration on Thursday, shortly after the firm’s stock price plunged on rumors that it had lost its top client Tesla Inc., which raised concerns among investors about the strength of its overseas business. CATL, the world’s largest EV-battery maker, has denied the rumors.