Sep 12, 2023 07:22 PM

Tech Insider: The Coming Battery Price War, Tencent’s Business AI

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CATL introduced its newest superfast charging lithium iron phosphate battery Shenxing at the IAA car show in Munich, Germany, on Sept. 5. Photo: VCG

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

CATL and BYD gird for price war

China, the world’s biggest maker of electric vehicles (EVs), is poised to become a battleground for a price war between the two largest producers of the batteries that power EVs.

Contemporary Amperex Technology Co. Ltd., better known as CATL, holds 43% of the domestic market, while Warren Buffett-backed BYD Co. Ltd., which makes both electric cars and batteries, has about 30%. The next largest producer clings to less than 9% of the market.