Beijing pushes back on "de-CATLisation" talk as carmakers diversify

A publication under China's industry ministry has rejected market talk of "de-CATLisation" as more automakers that buy batteries from CATL, the industry giant, turn to other suppliers. CATL's shares have fallen in recent days. The commentary, published by the news centre of the Ministry of Industry and Information Technology (MIIT), said that adding suppliers and building batteries in-house are normal business practices. It said these moves should not be seen as deliberate efforts to push CATL aside. "De-CATLisation" refers to the idea that carmakers are trying to reduce their reliance on CATL, the world's largest battery maker. The ministry's remarks suggest Beijing wants to calm investors and protect a key national company.