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Tesla Battery Supplier Jumps to Record as Green Stocks Rally

Shares of the world’s largest electric-vehicle battery maker hit an all-time high Thursday in the wake of a flurry of news that spurred bullish prospects for the industry.

Contemporary Amperex Technology Co., a Tesla Inc. supplier, jumped as much as 8.6% in Shenzhen, taking its gains from a low in March to more than 50%. CATL led advances in not just in EVs but green energy-related stocks as well. A BloombergNEF outlook report and China’s moves to boost the sector including People’s Bank of China Governor Yi Gang pledging increased support spurred the gains.