Over the past year, battery manufacturers and materials companies listed in China have outperformed their domestic stock markets by continuing to consolidate their global market share in  electric vehicle batteries, energy storage, and data center batteries. Strong global demand, driven by the development of energy infrastructure related to AI and the acceleration of  electrification, has enabled major Chinese players to expand their capacity, build customer loyalty, and raise new capital, notably through IPOs in Hong Kong such as CATL’s $5 billion IPO in
2025.
In contrast, non-Chinese Asian battery manufacturers faced price pressures and slowing growth, while Korean suppliers of battery materials outperformed by supplying both Chinese and global OEMs.

Source: Yahoo Finance and MSCI as of Jan 13, 2026

BATTERY REPORT 2025