Company provides update on product sales and expansion plans.
Chinese electric vehicle (EV) battery manufacturer Contemporary Amperex Technology Company Ltd (CATL) has revealed it is developing a second generation of sodium-ion batteries, which it expects will offer customers performance characteristics approaching those of lithium iron phosphate (LFP) batteries – but at a lower cost.
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The company developed its first-generation sodium-ion battery in 2021, offering high energy density, fast charging capability and good thermal stability, while also performing well at temperatures as low as -20 °C. The battery cells have an energy density of 160 Wh/kg and can be charged to over 80% in just 15 minutes.
At a recent investor relations event, the company said “once large-scale adoption is achieved, sodium-ion batteries will have a significant cost advantage over LFP batteries.”
The company also revealed that its Shenxing and Qilin batteries are expected to account for between 60% and 70% of total LFP and nickel-cobalt-manganese (NCM) battery shipments in 2025, up from between 30% and 40% last year. It added that its recently launched Freevoy hybrid vehicle battery has so far been fitted into more than 30 vehicle models.
The company is currently expanding battery production capacity in the Chinese cities of Ningde, Jining, Luoyang and Beijing, as well as in Germany, Hungary and Spain through its joint venture with Stellantis. It also has a battery supply chain project in Indonesia.
