Contemporary Amperex Technology Ltd (CATL) R&D Center. Photo: Reuters, Jake Spring

The Financial Times reported that Contemporary Amperex Technology Ltd (CATL), is poised to become a “national champion” as part of China’s efforts to exploit the growing market for electric cars. The company hopes to surpass the Tesla Motors and Panasonic joint venture in Nevada by 2020 to become the world’s largest battery maker. With Beijing investing billions of renminbi in subsidies for electric car makers, who are required to choose from approved battery producers, CATL may yet succeed in their ambitious goal.