News Brief
China's CATL Unveils New LFP Battery For EVs With 1,000 Km Range On Single Charge
CATL Manufacturing
CATL, the leading Chinese electric vehicle (EV) battery maker, on Thursday (25 April) unveiled a new lithium iron phosphate (LFP) battery, the Shenxing Plus, which boasts a driving range of over 1,000 kilometers (621 miles) on a single charge.
Gao Huan, the Chief Technology Officer of CATL, highlighted that the Shenxing Plus is the first LFP battery worldwide to achieve such a range.
LFP batteries are considered more environmentally friendly compared to the lithium-ion batteries typically used in EVs.
The Shenxing Plus not only offers superior range but also features 4C ultra-fast charging capabilities, allowing a ten-minute charge to add up to 600 km of range. Even under extreme conditions, such as temperatures as low as -20°C (-4°F), the battery maintains its superfast charging ability.
CATL had announced in January that it aims to cut the cost of LFP batteries per kWh by 50 per cent by mid-2024, signaling significant advancements in affordability and technology in the near future.
Currently, four car models are equipped with the CATL's earlier generation Shenxing battery, which provides a 700 km range.
By the end of the year, over 50 additional models are expected to adopt this advanced battery technology.
Amid a competitive market, CATL has reported a return to profit growth for the January-March quarter, following a dip in the previous quarter—the company's first since 2022.
This recovery comes as Chinese battery manufacturers, including CATL, which holds more than two-thirds of the global EV battery capacity as per Counterpoint Research, continue to outpace international competitors.
Furthermore, CATL's chairman disclosed plans in March for new research and development centers in Hong Kong to bolster technology exports.
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