Shares of Chinese battery maker CATL rose as much as 14% on August 29, reaching their highest level since August 2022.

The rally followed comments from Wuxi Lead Intelligent Equipment, a key supplier to CATL, which said it expects major clients to expand production capacity over the next two years.

Wuxi Lead’s shares also jumped 20% after reporting ongoing negotiations for 2026 and 2027 orders with major customers.

Other Chinese battery companies, such as Gotion High-Tech and Eve Energy, also saw their stocks climb.

CATL held a 37.9% share of the global battery market in H1 2025, ahead of BYD at 17.8%, according to SNE Research.

The company recently reported record Q2 profit and completed a large share sale in Hong Kong to support further expansion.

CATL operates in China, Germany, and Hungary, and is building a joint venture in Spain with Stellantis. The company aims to begin small-scale solid-state battery production by 2027.

Recent CATL developments