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Market Chatter: CATL Flags Oil Price Gains as Tailwind for Battery Demand

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Contemporary Amperex Technology (SHE:300750, HKG:3750), or CATL, said higher oil prices are creating a more supportive backdrop for energy storage systems and electric vehicle batteries, The Standard reported, citing Reuters.

The battery maker's chief technology officer, Gao Huan, reportedly said at a Beijing autoshow roundtable on Wednesday that the company is enhancing its manufacturing capabilities to enable large-scale global supply of high-quality products.

He said CATL is also increasing production capacity to meet rising worldwide demand for batteries, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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