CATL unveils fast-charging battery technology

Home > Industry Analysis > Content

【Summary】CATL, a major supplier to Tesla, has unveiled a new battery called Shenxing that can add up to 400km (250 miles) of range in just 10 minutes of fast charging. The battery uses lithium iron phosphate (LFP) technology, which is known for its lower cost and stability but has a lower energy density compared to other battery chemistries. Mass production of the battery is expected to start in 2023, with shipping in 2024. CATL faces competition from BYD in the global EV battery market.

FutureCar Staff Aug 25, 2023 5:18 PM PT

CATL unveils fast-charging battery technology

CATL, a Chinese battery company and a major supplier to Tesla, has introduced its latest product aimed at addressing the charging and range limitations of electric vehicles. Called Shenxing, or "god-like movement," this battery can provide up to 400 kilometers (250 miles) of range in just 10 minutes of charging. Gao Han, the chief technology officer of CATL's e-car division, made this announcement during a launch briefing on Wednesday.

This means that vehicles powered by Shenxing can travel from New York to Boston, a distance of approximately 215 miles, after only 10 minutes of fast charging. Mass production of the battery is expected to begin by the end of 2023, with shipments starting in 2024.

Shenxing claims to be the world's first 4C superfast charging LFP battery. LFP stands for lithium iron phosphate, a battery chemistry that Tesla widely adopted in 2021 for its shorter-range cars, replacing nickel-cobalt-aluminum. China, led by its renewable energy champion CATL, strongly supports LFP technology. According to research firm SNE, CATL held a 35% share of the global EV battery market in Q1, making it the leader. LFP batteries are known for their affordability and chemical stability, although they have a lower energy density compared to other battery chemistries, which affects the range of electric vehicles.

CATL's impressive growth has been driven by the surge in the Chinese EV market in recent years. However, the EV industry is now slowing down due to reduced government subsidies and decreased consumer demand amid the post-COVID economic downturn. Additionally, CATL faces fierce competition from BYD, another Chinese EV giant that manufactures its own batteries. In Q1, BYD held the second position in the global EV battery market with a 16.2% share.