US adds CATL and Tencent to 'Chinese Military Company' list; both call it a mistake
CATL loses billions in market value after being added to a US list for alleged military ties
The US Defense Department (DoD) recently announced the addition of mainland Chinese battery-maker CATL and technology company Tencent to its "Chinese Military Company" list, alleging connections with mainland China's military. This development led to CATL's market value dropping by approximately $4.4 billion following the news. CATL has contested its inclusion, stating it does not engage in military-related activities.
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