Market Chatter: CATL Says Open to Building US Plant if Trump Opens Door

MT Newswires Live11-13

Contemporary Amperex Technology or CATL (SHE:300750) is open to building a plant in the US if President-elect Donald Trump allows it, Reuters reported Wednesday, citing an interview with the Chinese battery maker's founder and chairman, Robin Zeng.

"Originally, when we wanted to invest in the US, the US government said no," Zeng reportedly said. "For me, I'm really open-minded."

Some of the largest battery and electric vehicle companies globally including CATL and BYD (HKG:1211, SHE:002594) have been affected by trade restrictions in the US.

However, Trump in August hinted at plans to allow companies including Chinese firms to operate in the US.

"We're going to give incentives, and if China and other countries want to come here and sell the cars, they're going to build plants here, and they're going to hire our workers," Trump reportedly told Reuters in August.

These comments have encouraged CATL to expand in the US, Reuters reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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