CATL reigns as China’s top subsidy recipient with 35% jump in first half

HONG KONG — Chinese electric vehicle battery supplier CATL raked in 35% more government subsidies in the first half of this year, compared with the same period in 2023, maintaining its perch atop the league table of mainland-listed companies receiving the most financial assistance.

While China’s public support for its EV sector has been the focus of a Western push to raise tariffs on its electric cars, top industry player CATL took in about 3.85 billion yuan ($547 million) worth of assistance in the first six months.