China’s EV Battery Giant CATL Abandoned By Chinese EV Makers: $100B Market Cap Lost In 4 Months
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“Terrible news! CATL is facing a complete collapse, everyone. Its market value has evaporated by more than 600 billion yuan, with as much as 54 billion yuan wiped out in a single day. Li Auto and Xiaomi have taken the lead in reducing their dependence on CATL. Even Harmony Intelligent Mobility Alliance has joined in and started using second-tier battery suppliers. CATL is exhausted now. It used to be so confident and dominant. But now? I’m telling you, it’s in serious trouble.”
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