The Pentagon recently added Tesla’s battery suppliers, Contemporary Amperex Technology, and Tencent to its list of companies with ties to the Chinese military. While the designation has minimal direct business impact, it sparked investor concerns over the growing U.S.-China tensions. CATL's shares dropped 3%, and Tencent’s plunged 7% in Hong Kong. This move could ripple effect, leading to further scrutiny of Chinese firms, especially those with significant U.S. market involvement. Both companies have denied the accusations and are considering legal action.
