China, the world’s biggest maker of electric vehicles, is poised to become a battleground for a price war between the two largest producers of the batteries that power EVs.
Contemporary Amperex Technology, better known as CATL, holds 43% of domestic market share while Warren Buffett-backed BYD, which makes both electric cars and batteries, has about a 30% share. The next largest producer clings to just 8.55% of the market.