Contemporary Amperex Technology Co Ltd (CATL) shares fell 2.7% to a near six-month low of HK$546.5 on Friday. Major Chinese automakers are diversifying battery suppliers to reduce their reliance on the company.
Li Auto announced on September 7 that it will transition to in-house battery systems starting in the second half of 2026. Xiaomi Auto revealed strategic partnerships with competing battery producers CALB and Sunwoda.
Unconfirmed reports indicate CATL may cut September production by nearly 10%. Beijing might also temporarily halt new battery projects to address industry oversupply fears.