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Benzinga
Benzinga
Business
Rachit Vats

Tesla Supplier CATL, Warren Buffett-Backed BYD Dominate EV Battery Market In China

CATL Warren Buffett China Tesla Inc. Nasdaq NYSE Xpeng Xpeng Inc electric vehicle

Tesla Inc (NASDAQ:TSLA) and Xpeng Inc (NYSE:XPEV) battery supplier Contemporary Amperex Technology Co, Ltd (CATL) grabbed a market share of 50% in March among electric vehicle battery makers in China, as per a report by Merrill Lynch.

What Happened: CATL’s installed capacity rose 155% on a year-on-year basis.

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