Chinese battery giant CATL is expected to raise at least $5 billion in a Hong Kong listing, according to two sources with direct knowledge of the matter. CATL did not immediately respond to a request for comment from Reuters.

The world’s largest maker of EV batteries has applied for a secondary listing in Hong Kong, joining the ranks of Chinese companies looking to tap the city’s fundraising markets.

CATL is also listed on the Shenzhen stock exchange, boasting a market cap of $150.5 billion. The battery giant supplies big automakers like Tesla.