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eu.36kr.comSEP 92 min read$LI

Li Auto & Xiaomi Shift Away: CATL's Core EV Battery Customer List Shrinking

CATL (300750.SZ) shares fell 3.65% on September 8, with market value dropping 54 billion yuan. Li Auto announced it will use self-developed batteries in all models, reducing reliance on CATL. Xiaomi Auto also partnered with CALB and Sunwoda for its batteries. CATL's market share remains high, but automakers are diversifying suppliers and developing in-house batteries to reduce costs and gain bargaining power.

Original reporting
eu.36kr.com
Published Sep 9, 2026, 3:41 PM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Sep 9, 2026, 7:48 PM UTC. Informational, not investment advice.
How this was made
AlphAI summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.
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Li Auto & Xiaomi Shift Away: CATL's Core EV Battery Customer List Shrinking — source image
Source · eu.36kr.com
Decision brief

The 30-second read

$LIBullishHigh
01

Why it matters

Li Auto's battery strategy change may improve its cost structure but introduces execution risk.

02

Market read

The announcement could drive Li Auto stock higher while pressuring CATL and other battery suppliers.

03

What to watch

Potential supply‑chain disruptions at Sunwoda and CALB could limit Li Auto's ability to fully replace CATL.

Relevance 7/10Novelty 8/10Timing: today

Background

CATL, the world’s leading EV battery maker, saw its shares fall as Li Auto announced a move away from its batteries.

Company-level read

Ticker impact

$LIBullishHigh confidence
Context

Li Auto announced it will install self‑developed batteries on all models, reducing reliance on CATL.

Expected impact

Likely short‑term rally on the news, with upside of 4‑6% if execution proceeds.

Evidence & confidence

The shift is a fresh strategic move disclosed today; investors view battery self‑sufficiency as a value driver.

Market effects

Sector

Battery‑supplier dynamics in the EV sector may shift, pressuring other CATL customers.

Regional

Chinese EV market may see increased competition among battery providers.

Global

Signals broader trend of automakers seeking battery self‑reliance worldwide.

Counterpoint

What could challenge this read

Li Auto's in‑house battery program could face cost overruns and quality risks, weighing on the stock.

Key entities

  • company
    Li Auto

    Chinese EV maker listed in the US as LI.

  • company
    CATL

    Chinese battery supplier (no US ticker).

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