(Photo: Reuters / Stringer)Contemporary Amperex Technology Co. Ltd. (CATL) shares surged to record highs Monday after Beijing unveiled an ambitious plan to boost energy storage capacity and support auto-sector demand, driving a rally across China's battery and electric vehicle stocks. The surge followed China's September 12 release of a sweeping action plan for large-scale new energy storage development through 2027. The National Development and Reform Commission and the National Energy Administration said the initiative aims to achieve more than 180 million kW of new energy storage capacity by 2027, generating around RMB 250 billion ($35 billion) in direct investment. "The move could drive demand for Chinese lithium-battery makers," said Vincent Sun, senior equity analyst at Morningstar, adding that the plan signaled long-term confidence in energy storage technology. JPMorgan analyst Rebecca Wen's team upgraded CATL to overweight and raised its 2025-2026 earnings forecast by about 10% on stronger-than-expected demand and production plans for energy storage systems.