Chinese battery manufacturer Contemporary Amperex Technology Ltd (CATL) has expanded its investment portfolio beyond electric vehicles (EVs) as it seeks new avenues for growth amid shifting market dynamics. Since June 2025, the Fujian-based company has participated in at least seven equity deals totaling more than 17 billion yuan (approximately HK$19.8 billion) in sectors including humanoid robotics, artificial intelligence data centres (AIDCs), hydropower, and language model development.
CATL, the world’s largest producer of lithium-ion batteries for EVs and energy storage systems, is facing softening demand in China’s EV market and increasing competition from domestic rivals internationally. In response, the company appears to be adopting a strategic approach similar to its earlier investments in automakers and electric car startups by broadening its scope to high-growth industries.
Yang Jing, director of Asia-Pacific corporate ratings at Fitch Ratings, described CATL’s moves as efforts to identify “new high-growth frontiers” and secure first-mover advantages. She identified data centres as a promising area due to their significant growth potential and high barriers to entry. Yang noted that expanded usage of data centres could drive demand for energy storage solutions, potentially establishing a “third growth curve” beyond EVs and energy storage systems.
Among its recent deals, CATL affiliates acquired a 38.1% stake for US$942 million in Nasdaq-listed VNET Group, a provider of neutral data centres. The company also agreed to pay 4.09 billion yuan for a 49% stake in Shenzhen-listed Hangzhou Zhonhen Electric, which supplies power systems for data centres and EV charging infrastructure. In addition, CATL led a 5 billion yuan fundraising round for DeepSeek, a developer of large language models, in June.
Investments in humanoid robotics are also part of CATL's diversification strategy. The company backed Beijing-based robot start-up Galbot with a 1.1 billion yuan funding round last year; subsequently, a Galbot robot powered by CATL batteries was deployed on a production line. Lucas Zhang Liutong, director of consultancy WaterRock Energy Economics, suggested these ventures could help CATL innovate battery technologies tailored to the anticipated future demand from battery-powered humanoid robots, which research firm Wood Mackenzie estimates will require around 6,000 gigawatt-hours of electric power annually by 2035.
Additionally, CATL has committed investments to clean energy projects in southwest and western China through stakes in joint ventures with state-owned enterprises. Since November, it has contributed 670 million yuan to the Yagen II Hydropower Station and 360 million yuan to the Danba Hydropower Station, both in Sichuan province, as well as 528 million yuan to a clean energy project in Tibet’s upper Lancang (Mekong) River basin.
These investments signal CATL’s intention to reshape its business model in anticipation of longer-term shifts in global energy consumption and technology trends, extending beyond its established dominance in EV battery production.