Analysis: CATL’s Growing Clout Has Automakers Hedging Their Bets

At an auto show in Beijing in April, one of the most notable sights was Contemporary Amperex Technology Co. Ltd. (CATL) (300750.SZ) founder Robin Zeng Yuqun making the rounds.

Over two days, he visited the booths of at least 23 automakers, including Mercedes-Benz Group AG and Hyundai Motor Co., as well as Chinese electric-vehicle (EV) startups such as Li Auto Inc. and Nio Inc. At many, he was personally greeted by chairmen and senior executives eager to showcase their latest models in hopes of securing support from the world’s largest maker of EV batteries.