Shares in CATL, the world’s largest maker of batteries for electric vehicles, jumped more than 16% Tuesday in its Hong Kong trading debut after it raised about $4.6 billion in the world’s largest initial public offering this year.

Shares in Chinese battery giant Contemporary Amperex Technology soared almost 17% on their first trading day in Hong Kong as investors brushed off geopolitical concerns to pile onto the largest listing so far in 2025.

A global leader in the sector, CATL produces more than a third of all electric vehicle (EV) batteries sold worldwide.