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An electric vehicle from Chinese start-up Byton, powered by a CATL battery. Photo: VCG via Getty Images

Following its IPO this month, Chinese lithium-ion battery manufacturer CATL became one of the highest-valued companies on the ChiNext stock exchange. Founder Zeng Yuqun, vice chairman Huang Shilin and shareholder Pei Zhenhua have become newly minted billionaires.

Why it matters: Founded 7 years ago, CATL has the largest market share of battery makers in China and recently surpassed Panasonic as the world’s largest supplier of electric vehicle (EV) batteries.

What’s next: CATL's IPO will finance expansion plans to exceed those of competitors, including additional facilities. In addition, they plan to add more capacity overseas, including a potential facility in Germany, close to many European carmakers as well as to Daimler, who recently awarded CATL a supply contact for their EVs. As more capacity comes online worldwide, cost per kilowatt hour will continue to decrease.

The big picture: China continues to lead the global market, producing 99% of the world’s electric buses and two-wheelers. As China’s national EV market continues to grow, thanks to government subsidies and supportive regulations, both China and CATL are likely to maintain their global leadership.

Maggie Teliska is a technical specialist at Caldwell Intellectual Property, an intellectual property law firm. She is also a member of GLG, a platform connecting businesses with industry experts.

Go deeper

Stacey Abrams launches second campaign for Georgia governor

Photo: Eze Amos/Getty Images

Stacey Abrams, voting rights activist and former 2018 candidate for Georgia governor, is running for the position again in 2022. Abrams would be the first Black female governor in the country.

Why it matters: Abrams caught national attention in 2018 by narrowly losing an election to Republican Gov. Brian Kemp in a state held firmly by the GOP for nearly two decades.

First known U.S. case of Omicron variant identified in California

Dr. Anthony Fauci speaks during the daily briefing at the White House on Dec. 1. Photo: Mandel Ngan/AFP via Getty Images

The first known U.S. case of the Omicron variant was detected in California, the Centers for Disease Control and Prevention confirmed Wednesday.

Driving the news: The confirmed case was detected in a traveler returning from South Africa who was fully vaccinated and has mild symptoms, according to the CDC.

Supreme Court appears likely to roll back abortion rights

Abortion rights advocates and anti-abortion protesters demonstrate in front of the Supreme Court in Washington, D.C., on Dec. 1. Photo: Olivier Douliery/AFP via Getty Images

The Supreme Court on Wednesday seemed likely to weaken abortion rights and perhaps to let states ban the procedure altogether.

The intrigue: The court seemed likely to throw out the framework established in Roe v. Wade, but it wasn't clear whether a majority of the justices were inclined to overturn the court's precedents entirely.