Contemporary Amperex Technology Co., Limited (CATL) shares dropped nearly 9% during the July 10 trading session. The stock fell 7.92% to HK$587 by the close of the report. Trading turnover reached HK$3.036 billion.
Major New Energy Vehicle (NEV) manufacturers are reportedly diversifying their battery procurement strategies. These automakers have begun integrating second-tier battery suppliers into their production chains.
This shift threatens CATL’s market dominance and signals intensifying competition within the sector. The news triggered a broader sell-off across lithium battery-related stocks.