Zach Mottl, Chairman of the Coalition for a Prosperous America, said JPMorgan and Bank of America profited from CATL’s IPO, urging Congress to prevent U.S. financial institutions from supporting entities linked to the Chinese Communist Party. The statement was made on X.
The involvement of U.S. financial institutions in CATL’s IPO has raised significant national security concerns. According to the Financial Times, CATL was placed on a Pentagon watchlist due to alleged ties to the Chinese military, prompting U.S. lawmakers to urge JPMorgan and Bank of America to withdraw from the deal. Despite these warnings, both banks proceeded with underwriting the IPO, highlighting the tension between financial interests and national security considerations.
CATL’s Hong Kong IPO raised approximately $4.6 billion, marking it as the largest global IPO of 2025. As reported by the Financial Express, the funds are earmarked for expanding CATL’s operations in Hungary and enhancing its global electric vehicle battery presence. This significant capital influx underscores CATL’s strategic push into international markets.
The Select Committee’s September 2023 letter to Ford’s CEO demanded transparency and cooperation regarding all CATL-linked contracts, citing national security and human rights concerns about the company’s CCP ties. Lawmakers asserted that American firms should not enable CCP involvement in domestic manufacturing. The letter was part of ongoing congressional oversight efforts.Â
Zach Mottl serves as the Chairman of the Coalition for a Prosperous America (CPA) and is also the President of Atlas Tool Works, a manufacturing company based in Illinois. Mottl has been actively involved in advocating for policies that support domestic manufacturing and address trade imbalances. His leadership roles reflect a commitment to strengthening American industry and economic sovereignty, as per the CPA’s official website.
