Chinese parts suppliers ride Tesla-powered electric-car boom as top battery maker surpasses Bank of China, Midea, PetroChina in size


Key Topics in this News Article:

News Snapshot:

Contemporary Amperex has returned 424 per cent over the past 12 months, making it the eighth largest listed company in China by market value Others in the Tesla ecosystem have seen less than stellar performances amid concerns about margins, analysts say The electric-car boom has turned battery maker Contemporary Amperex Technology into China’s eighth largest stock by market value, surpassing Bank of China, Midea Group and PetroChina. Tesla rewarded shareholders with a 743 per cent rally in 2020, taking its founder Elon Musk to the top of the world’s billionaire list. The carmaker’s parts suppliers in China are also enriching...