China’s $10 EV battery could destroy America’s auto industry, but Biden’s busy sending billions overseas while letting Beijing eat our lunch—again.

At a Glance

• China’s CATL, the world’s largest EV battery maker, raised $4.6 billion in its Hong Kong IPO, the largest globally this year
• The company controls over one-third of the global EV battery market and supplies major automakers like Tesla and Ford
• Chinese battery innovations could make EVs more affordable while American automakers struggle to compete
• CATL is blacklisted by the U.S. Defense Department over alleged ties to the Chinese military
• American automakers have lost significant market share in China as it pivots to electric vehicles

China’s Battery Dominance Threatens American Auto Industry

While Washington elites are busy trying to force expensive, impractical electric vehicles down Americans’ throats, China is actually making them affordable—and positioning itself to absolutely dominate the global market. Contemporary Amperex Technology Co. Ltd. (CATL), China’s leading electric vehicle battery maker, just raised a staggering $4.6 billion in its Hong Kong trading debut, marking the largest IPO globally this year. This isn’t just another business story—it’s a five-alarm fire warning about America’s economic future that the Biden administration seems perfectly content to ignore.

CATL already controls over a third of the global market for EV batteries and supplies major Western automakers like Tesla and Ford. Their shares traded up to 18.4% above the listing price, showing strong investor interest despite supposed U.S.-China tensions. The company’s founder, Robin Zeng, was quite clear about their global ambitions, stating, “The Hong Kong listing means that we are more deeply integrated into the global capital market, and it marks a new starting point in promoting the global zero-carbon economy.” Translation: China plans to own the future of transportation while America clings to policies that hamstring our own manufacturers.

“It’s the 800-pound gorilla in the battery space, You could look at it as the Tesla of batteries.” – Lei Xing.

America’s Self-Inflicted Decline

Remember when American cars dominated global markets? Those days are rapidly disappearing in our rearview mirror. In the early 2010s, American automakers saw China as a key market, with brands like General Motors and Buick thriving there. Fast forward to today, and American internal combustion engine vehicle sales in China have collapsed from 1.2 million in 2014 to a pathetic 250,000 in early 2025. While our manufacturers were busy building ever-larger gas-guzzling SUVs, Chinese companies were revolutionizing electric vehicle technology.

The decline is nothing short of catastrophic. By 2025, New Energy Vehicles (NEVs) account for over 40% of new vehicle sales in China, with Chinese brands like BYD, XPeng, and NIO leading the charge. Meanwhile, American vehicle imports to China have fallen off a cliff, with only 8,870 cars imported in Q1 2025—a 66% year-over-year decline. Even Tesla, with its Shanghai Gigafactory, is seeing domestic sales decline as it faces increasingly fierce competition from Chinese brands. But our political class seems more concerned with virtue signaling about climate change than actually maintaining American industrial competitiveness.

The National Security Implications

There’s more at stake here than just car sales. This is about national security and America’s place in the world. CATL is blacklisted by the U.S. Defense Department over alleged ties to the Chinese military—allegations the company conveniently denies. Yet they’re using the $4.6 billion from their IPO to build a $7.3 billion factory in Hungary, strategically positioning themselves to supply European automakers. They’re playing chess while our administration plays checkers with American industry.

The most concerning development is CATL’s new battery technology, which could enable over 300 miles of driving range with just five minutes of charging. As battery costs plummet, possibly to as low as $10 per unit according to some reports, electric vehicles will become increasingly affordable. The Chinese are solving the very problems that have prevented widespread EV adoption in America—cost and charging time—while our own manufacturers are hamstrung by regulation and lack of access to critical minerals.

“They know that in order to continue to grow the way they want to, they really need to establish a presence outside of China, And the $4½ billion-dollar IPO is effectively building a war chest for them to do that.” – Tu Le

The Coming Economic Reckoning

The uncomfortable truth is that the U.S. is isolating itself economically while the rest of the world increases trade with China. Consumer nationalism in China has grown, with domestic brands gaining favor over foreign ones across various sectors, including automotive. This isn’t just about losing market share in China—it’s about losing access to the world’s most advanced EV ecosystem and supply chains. American automakers may find it impossible to catch up in the global EV market as China continues to lead in innovation and production.

If we want to preserve American manufacturing jobs and maintain our economic independence, we need leadership that understands industrial policy and the strategic importance of energy independence through ALL forms of American energy. Instead, we’re getting mandates, regulations, and half-baked subsidies that don’t address the fundamental competitive disadvantages our manufacturers face. The Chinese aren’t waiting for permission to dominate the future of transportation—they’re building it right now, with or without us. The question is whether we’ll wake up before it’s too late.