CATL is also listed on the Shenzhen stock exchange, boasting a market cap of $150.5 billion. The battery giant supplies big automakers like Tesla.

Chinese battery giant CATL has started the process to list in Hong Kong by lodging its filings with regulators in a deal that is expected to raise at least $5 billion, according to two sources with direct knowledge of the matter.

The long-awaited CATL listing aims to raise more than $5 billion, which the company said will fund overseas production capacity and international business expansion, supporting its long-term global strategy.