Shares in Chinese battery giant CATL soared more than 18 percent on its Hong Kong debut on Tuesday after raising HK$35 billion in the world's

Contemporary Amperex Technology Co. Ltd., or CATL, controls more than a third of the global market for EV batteries and is seeking to expand overseas even as it faces political obstacles in the United States.

Zeng Yuqun, Chairman of Chinese battery giant CATL, right, bangs a gong to start CATL's debut trading on the Hong Kong stock exchange on May 20. Shares in Chinese battery giant CATL soared almost 17 percent on its first day of trading Tuesday.

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

Robin Zeng, the billionaire founder and chairman of Contemporary Amperex Technology Co. Ltd., pushed back on US accusations the Chinese battery giant’s technology poses a threat to national security,

CATL has started battery production at another factory in China. The plant is set to become the Group's largest production facility in the country. In the

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JPMorgan Chase & Co. underwrote Contemporary Amperex Technology Co. Ltd.’s Hong Kong listing despite opposition from US lawmakers, given that Washington hasn’t placed sanctions on the Chinese battery maker,