Tesla Inc. supplier Contemporary Amperex Technology Co. Ltd. (CATL), the world’s largest electric vehicle battery manufacturer, has unveiled a new battery that can significantly enhance the driving range of electric vehicles (EVs).
What Happened: CATL, at the Auto China show in Beijing, introduced the Shenxing Plus battery pack, which can power a car for up to 600 kilometers (370 miles) on a 10-minute charge, reported Bloomberg on Tuesday. The lithium-iron-phosphate battery can provide a range of 1,000 kilometers or over 620 miles on a full charge. Even the Lucid Air sedan, among the highest-range EVs in the market, offers a maximum range of only 516 miles.
This new battery is an upgrade from the Shenxing, which was launched in August. The earlier version could power a vehicle for 400 kilometers from a 10-minute charge or up to 700 kilometers on a full charge. The Shenxing battery is currently used in 50 EV models, including one Xiaomi SU7 variant, the report noted.
Why It Matters: The release of the Shenxing Plus battery is a significant development in the EV industry. It addresses two major concerns that have been hindering the widespread adoption of EVs: range anxiety and lack of charging infrastructure. This innovation could potentially accelerate the transition to electric vehicles, especially in China, which is the world’s largest EV market.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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