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Electric cars in China

State-backed battery maker gives competitive jolt to China's CATL

CALB racks up orders from EV producers seeking alternative supply source

CALB supplies around 70% of the electric batteries used by Guangzhou Automobile Group's Aion division.    © Reuters

SHANGHAI -- Investor excitement about China's rapidly growing electric vehicle market helped make Tesla a $1 trillion stock as well as turn its battery supplier Contemporary Amperex Technology Ltd. into a 1 trillion yuan ($148.1 billion) company.

CALB, a smaller rival of CATL, aims to rack up big numbers too. Liu Jingyu, the group's chairwoman and chief executive who is among the highest-profile female executives in China's male-dominated automotive industry, wants to raise CALB's annual production capacity to 1 terawatt-hours worth of batteries by 2030 from 11.9 gigawatt-hours.

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