CATL state subsidies jump by 35% amid EU squeeze on China EVs

HONG KONG -- China's leading battery manufacturer CATL received 35% more in state subsidies during the first half of the year even as the Chinese electric vehicle industry's export drive faces severe scrutiny over such financial assistance from the government.

Contemporary Amperex Technology Co. Ltd., the official name for CATL, became the top recipient of government aid for the full year in 2023 among all companies listed in mainland China.