China’s CATL has cemented its position as the world’s largest maker of electric car batteries, just days after a warning from the country’s leader Xi Jinping of the risks of success as geopolitical rifts with the west deepen.
Xi, who is set for a third term as China’s president, said this week that he was both “happy and worried” by CATL’s market leadership, according to the Xinhua News Agency.
“Nascent industries should . . . figure out where the risks are and avoid penetrating deep into enemy territory alone, only to be caught by others and get wiped out,” Xi said in a rare intervention.
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