Behind CATL's Rise: Robin Zeng, the Battery Kingmaker and Elon Musk's Crucial Partner in China
In 2023, when Elon Musk returned to Beijing, his first meeting wasn’t with China’s Minister of Science and Technology or automotive executives, but with a relatively unknown Chinese entrepreneur, Robin Zeng. In the rapidly evolving global EV industry, Zeng’s company, Contemporary Amperex Technology Co. Limited (CATL), dominates the core EV battery market, yet he remains low-profile. Rarely giving media interviews, Zeng is dubbed the "Invisible King" behind the EV industry.
Musk’s consistent meetings with Zeng during his Beijing visits underscore CATL’s strategic importance in the global EV ecosystem. As CATL prepares for its Hong Kong listing, this discreet founder is stepping into the limelight.
This article delves into Robin Zeng’s entrepreneurial journey, analyzing how his strategic foresight and technological insights have propelled the global EV industry, making him one of its most pivotal yet enigmatic leaders.
Entrepreneurial Journey: From ATL to CATL
Born in 1968 in rural Ningde, Fujian Province, Zeng graduated from Shanghai Jiao Tong University in 1989. After a stint at a state-owned enterprise, he moved south to work as an engineer at SAE Magnetics in Dongguan. In 1999, alongside Liang Shaokang and Chen Tanghua, Zeng co-founded Amperex Technology Limited (ATL) in Hong Kong, establishing their first factory in Dongguan. This marked Zeng’s initial foray into the battery industry.
Initially producing lithium polymer batteries for consumer electronics, ATL invested $7 million to acquire patents from Bell Labs. Despite early technical challenges, the team overcame them, and by 2001, ATL’s battery shipments reached one million units. A significant breakthrough came in 2003 when ATL entered Apple’s supply chain. By 2012, ATL dominated nearly 50% of the global polymer lithium-ion battery market.
However, ATL’s rapid expansion led to significant equity dilution. In June 2005, Japan’s TDK acquired 100% of ATL for $100 million, making it a Japanese-controlled company. This foreign ownership later hindered ATL’s growth in China’s EV battery sector due to policy restrictions.
In response to policy changes, Zeng decided to spin off ATL’s EV battery division. In 2011, he founded CATL in Ningde, focusing on EV and energy storage batteries, primarily using high-energy-density ternary lithium batteries. Learning from past experiences, Zeng ensured CATL remained entirely Chinese-owned, emphasizing this in public statements. By 2015, TDK had divested its 15% stake in CATL, making the two companies completely independent. In 2017, Zeng fully exited ATL to concentrate on CATL’s development.
Advancing EV Battery Technology
Shortly after CATL’s establishment, the company secured a significant order from BMW for its Zinoro 1E EV. Despite the vehicle’s modest sales, the collaboration with BMW provided CATL with invaluable experience in battery R&D, design, and testing, enhancing its reputation. Subsequently, CATL’s client base expanded to include major Chinese automakers and international giants like Volkswagen, Daimler, and Tesla.
Zeng astutely focused on high-nickel ternary lithium batteries to meet the increasing demand for longer EV ranges. This strategy aligned with China’s subsidy policies favoring higher energy densities. By 2017, CATL’s battery sales reached 12.0 GWh, surpassing competitors like Panasonic and LG Chem to become the world’s leading EV battery supplier. The company also established subsidiaries in Europe, North America, and Asia to support its global expansion.
CATL’s commitment to R&D led to significant innovations. In July 2021, Zeng introduced CATL’s first-generation sodium-ion battery, offering an energy density of 160 Wh/kg and rapid charging capabilities. In 2022, CATL unveiled its third-generation CTP (Cell-to-Pack) technology, the "Qilin Battery," boasting a system volume utilization rate of 72% and enhanced energy density. TIME Magazine recognized the Qilin Battery as one of the "Best Inventions of 2022."
Under Zeng’s leadership, CATL has maintained a global market share exceeding 30% for several years, solidifying its position as an industry standard-setter. By 2022, CATL’s global EV battery installation market share had risen to 37.0%, marking six consecutive years at the top. This dominance has prompted automakers to diversify their battery supply chains and invest in in-house battery production to mitigate reliance on CATL.
Relationship and Collaboration with Elon Musk
Zeng’s interactions with Elon Musk began primarily through their companies’ collaboration. Starting in 2020, CATL supplied lithium iron phosphate batteries for Tesla’s Shanghai-made Model 3, reducing costs and enhancing competitiveness. In February 2020, CATL and Tesla signed a supply agreement covering July 2020 to June 2022. By June 2021, they extended their partnership with a new four-year agreement through December 2025.
Beyond business dealings, Zeng and Musk have engaged in direct dialogues. In May 2023, Musk was photographed dining with Zeng in Beijing, highlighting the importance of their relationship. Reports also indicate private meetings between the two in 2022 and April 2024, reflecting ongoing communication.
Their discussions have encompassed battery supply, technological directions, and future collaborations. In 2023, they reportedly discussed supplying batteries for Tesla’s new Shanghai Megapack energy storage factory and potential joint ventures in North America. Zeng has been candid in technical discussions, even critiquing Tesla’s 4680 battery design during an April 2024 meeting, showcasing a relationship built on mutual respect and open dialogue.
Overall, Zeng and Musk’s relationship is characterized by mutual need and respect. CATL provides Tesla with reliable battery supplies, while Tesla’s orders have significantly boosted CATL’s performance. Their interactions continue to influence the global new energy industry, with potential for deeper collaborations in energy storage and battery manufacturing.
CATL’s Global Expansion and Zeng’s Leadership
Under Zeng’s guidance, CATL has achieved remarkable commercial success. In June 2018, CATL went public on the Shenzhen Stock Exchange, raising significant capital. By 2021, the company’s market capitalization surpassed RMB 1 trillion. Zeng’s personal wealth also soared, and by May 2021, he became Hong Kong’s richest individual.
Recognizing the need for global production capabilities, CATL began establishing overseas subsidiaries in 2017. In 2018, the company announced plans to build its first European factory in Thuringia, Germany. In August 2022, CATL unveiled plans for a second European plant in Debrecen, Hungary, with a planned capacity of 100 GWh. CATL is also preparing to enter the North American market, planning to establish battery production capacity by 2026. Notably, CATL is collaborating with Ford to build a $3.5 billion battery factory in Michigan, utilizing CATL’s technology under a licensing agreement.
Zeng is known for his low-key yet ambitious leadership. He has rooted CATL’s headquarters in Ningde, transforming the once underdeveloped city into a world-class battery industry hub. Emphasizing R&D, CATL invests approximately 5% of its annual revenue into forward-looking technologies. Zeng envisions CATL playing a significant role in energy storage, grid stability, and renewable energy generation, contributing to global energy sustainability.
In management, Zeng advocates for the philosophy of "internal excellence and external leadership." He rarely appears in media but personally introduces major product launches, demonstrating his technical confidence. Zeng maintains an open and cooperative approach with partners, fostering extensive collaborations with domestic and international automakers. Under his leadership, CATL has not only maintained its position as the global leader in EV battery market share for six consecutive years but has also become a symbol of China’s high-tech manufacturing prowess.
Timeline Summary: Robin Zeng and CATL
1999: Robin Zeng, along with Liang Shaokang and Chen Tanghua, founded Amperex Technology Limited (ATL) in Hong Kong, marking his entry into the lithium battery industry.
2001: ATL’s battery shipments surpassed 1 million units.
2003: ATL successfully entered Apple’s supply chain.
June 2005: Japanese electronics giant TDK acquired all shares of ATL, making it a Japanese-owned enterprise.
2008: ATL established a factory in Ningde, Fujian, and set up a power battery division, laying the groundwork for its electric vehicle battery business.
2011: Robin Zeng spun off ATL’s power battery business and founded Contemporary Amperex Technology Co., Limited (CATL) in Ningde, focusing on new energy vehicle power batteries.
2012: CATL secured an order from BMW Brilliance for the Zinoro 1E electric vehicle, becoming the first Chinese company to enter the battery supply chain of an international automaker.
March 2015: The Chinese government introduced the “white list” policy for power batteries, benefiting domestic battery companies like CATL and accelerating their development.
2017: CATL’s sales reached 12.0 GWh, propelling it to the top of the global power battery market. The company also established subsidiaries in Europe, America, and Japan, initiating its global expansion.
June 2018: CATL was listed on the Shenzhen Stock Exchange’s ChiNext board, with its market value quickly surpassing 100 billion yuan. In the same year, it announced plans to build its first European factory in Germany.
February 2020: CATL signed its first supply agreement with Tesla (July 2020–June 2022) to provide batteries for the Shanghai-made Model 3.
June 2021: CATL signed a four-year battery supply agreement with Tesla (2022–2025), and its market value exceeded 1 trillion yuan. In 2021, CATL’s global market share reached 32.6%.
2022: CATL unveiled its “Qilin Battery” technology, which was named one of TIME magazine’s Best Inventions of the Year. In August, the company announced plans to build a factory in Hungary with a production capacity of 100 GWh.
2023: Plans for CATL’s collaboration with Ford to build a factory in Michigan, USA, were revealed. Elon Musk visited China and had dinner with Robin Zeng to discuss deepening their partnership.
2025: CATL continued to expand its business footprint, establishing strategic partnerships with automakers like NIO in the battery swapping sector. Under Robin Zeng’s leadership, the company solidified its position as a global leader in power and energy storage batteries.