Chinese electric vehicle battery maker CATL (300750.SZ), opens new tab on Monday launched the second generation of its “Shenxing” fast-charging battery, which it said would power more than 67 new electric vehicle models this year.
CATL chief technology officer Gao Huan said at an event in Shanghai that the new generation of Shenxing can enable a driving range of 520 kilometres with a five-minute charge and the battery can reach 80% charging from 0% in 15 minutes.
CATL also launched a sodium battery product with an energy density of 175 watt-hours per kilogram.
Robin Zeng, the billionaire founder of CATL aims to reinvent the world’s largest battery maker as a green-energy provider and to slash the cost of developing electric vehicles, upending the economics of the industry that has powered its growth.
Last month, CATL reported 15% growth in 2024 net profit, the slowest pace in six years, as a prolonged price war in China’s electric vehicle market put pressure on the Chinese EV battery giant.
Contemporary Amperex Technology Co. Limited (CATL) is a global leader in lithium-ion battery manufacturing and energy storage solutions. Based in China, CATL specializes in the development and production of high-performance batteries for electric vehicles (EVs), renewable energy storage systems, and other applications.
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