China's Xi tells CATL he has mixed feelings about its battery market dominance

SHANGHAI :Chinese President Xi Jinping told CATL on Monday he had mixed feelings about its status as the world's largest battery maker - remarks that come at a time when the company is rapidly expanding abroad and moving to undercut domestic rivals.

Xi was speaking in a closed-door meeting with industry and commerce representatives on the sidelines of the annual session of parliament, according to a statement published by the official Xinhua news agency on Tuesday. It has also offered to cut costs for Chinese automakers, sources have said, seeking to knock back challenges from smaller domestic rivals such as CALB and EVE Energy which have factories ramping up this year.

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