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CATL's U.S. Market Share Suffer Amid Call to Ban EV Battery Maker's Imports

CATL's U.S. Market Share Suffer Amid Call to Ban EV Battery Maker's Imports

Contemporary Amperex Technology's market share in the U.S. will likely continue to decline, Daiwa analysts wrote in a note. Currently, the U.S. contributes 7% of the company's total EV battery business, the analysts noted. A group of U.S. lawmakers sent a letter to the Biden administration calling for CATL to be added to an import ban list over alleged forced labor.