CATL has introduced a new lithium iron phosphate (LFP) battery it has dubbed Shenxing.
Reuters said the new battery would give EVs range of 400km (250 miles) after a 10 minute charge.
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Production would begin by late 2023, with EVs so equipped expected to be on sale early in 2024.
“We hope through continuous efforts to improve technology and reduce costs, Shenxing will become a standard product available for every electric vehicle,” said CATL EV business chief technology officer Gao Han.
Reuters noted CATL had been losing market share to BYD which produces its own Blade batteries for its EVs.
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By GlobalData
