SHANGHAI -- Chinese authorities on Wednesday approved CATL's stock market listing, enabling the lithium-ion battery maker to finance a new factory that will expand its already vast capacity.
CATL, which faces competition in the global market from Tesla partner Panasonic, will raise 13.1 billion yuan ($2.07 billion) through its initial public offering in Shenzhen, of which 8.9 billion yuan will go to build a 24 gigawatt-hour production complex.
