Tesla’s Biggest Threat Isn’t BYD — It’s A Company That Doesn’t Even Make Cars

Tesla, Inc. (NASDAQ:TSLA) investors are used to watching rivals like BYD Co., Ltd. (OTC:BYDDF) (OTC:BYDDY). But the real threat may be sitting one layer deeper—inside the battery. Because the company shaping the economics of electric vehicles isn’t another automaker. It’s Contemporary Amperex Technology Co., Ltd. aka CATL.

And it doesn’t sell a single car.

The Company Setting EV Prices

China-based CATL controls roughly 37% of the global EV battery market, per FT, making it the single most important supplier in the industry. That matters because batteries are the most expensive component in an …

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