CATL, a prominent Chinese battery supplier to Tesla and a major player in the electric vehicle (EV) industry, has revealed a groundbreaking solution to address the challenges of EV charging and range limitations. The newly unveiled battery, named Shenxing or “god-like movement,” has the remarkable ability to provide up to 400 kilometers (250 miles) of range in just 10 minutes of charging. This innovative development was announced by Gao Han, the Chief Technology Officer of CATL’s electric car division, during a recent launch briefing.
This groundbreaking feature means that vehicles equipped with the Shenxing battery can cover the distance between New York and Boston (approximately 215 miles) with just a quick 10-minute fast charge. The battery is set to enter mass production by the end of 2023, with shipments expected to commence in 2024.
The Shenxing battery proudly claims the title of the “world’s first 4C superfast charging LFP battery.” LFP stands for lithium iron phosphate, a battery chemistry that gained significant traction in 2021 when Tesla incorporated it into their lineup of shorter-range cars as an alternative to nickel-cobalt-aluminum batteries.
China has emerged as a strong advocate for LFP technology, with CATL at the forefront of driving its adoption. The company currently holds a leading position in the global EV battery market, boasting a substantial 35% share in the first quarter, according to SNE, a research firm specializing in the EV sector. Although LFP batteries offer advantages such as affordability and chemical stability, they do exhibit lower energy density compared to other battery chemistries, which can impact the overall range of EVs.
CATL’s impressive growth has been fueled by the surging demand for EVs in China over recent years. However, the EV industry has started to experience a slowdown as government incentives dwindle and economic challenges stemming from the post-COVID environment become more pronounced. Additionally, CATL faces fierce competition from BYD, a leading Chinese EV manufacturer that produces its own batteries. In the first quarter, BYD held the second position in the global EV battery market with a 16.2% market share, trailing behind CATL.
