China's CATL makes more than a third of electric vehicle batteries sold worldwide and also supplies VW and Toyota.

Robin Zeng’s high-stakes bets—from quitting his first job to founding CATL—have reshaped the global EV battery market.

Shares in the world’s largest maker of batteries for electric vehicles, CATL, jumped about 13% Tuesday in its Hong Kong trading debut after it raised about $4.6 billion in the world’s largest initial public offering this year.