Chinese EV battery maker CATL unveils LFP battery with 1,000 km range
Reuters
Published Apr 25, 2024 02:41AM ET
BEIJING (Reuters) - Chinese electric vehicle (EV) battery maker CATL on Thursday unveiled a lithium iron phosphate (LFP) battery with a driving range of more than 1,000 kilometres (621 miles) on a single charge.
The Shenxing Plus is the world's first LFP battery boasting such a range, Chief Technology Officer Gao Huan of CATL's e-car division said on the first media day of the Beijing auto show.
LFP batteries are environmentally friendlier than the lithium-ion batteries more commonly used in EVs.
Four car models use the current-generation Shenxing battery with its 700 km range, and over 50 more models will be equipped with it by year-end, Gao said.
The world's largest EV battery maker, formally Contemporary Amperex Technology, saw profit swing to growth in January-March after three months earlier posting its first quarterly profit fall since 2022 amid slowing demand and intensified competition.
Chinese battery makers including CATL grew faster than rivals to account for more than two-thirds of global EV battery capacity last year, showed data from consultancy Counterpoint Research.
In March, CATL's chairman said the manufacturer is in discussions to establish research and development centres in Hong Kong to underpin technology exports.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.