Chinese electric vehicle (EV) battery manufacturer Contemporary Amperex Technology (CATL) said it had developed a new battery, which can be mass produced, and which industry experts said would be a game changer in reducing the cost of electric vehicles, according to local reports.
CATL supplies EV batteries to most of the globe’s vehicle manufacturers, including Daimler, BMW, Toyota and Tesla, as well as a large number of domestic automakers.
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The company also claimed its new battery would last 16 years or up to 2m km.
CATL reportedly said the new battery as it stood would costs less than 10% more than those currently fitted to most electric vehicles in production but would offer much better range and durability.
A company spokesman confirmed “such a battery is ready to be mass produced which will greatly reduce costs”.
Last month another Chinese EV battery manufacturer, Svolt, unveiled two new, cobalt free, highly efficient electric vehicle batteries which it said would go into commercial production next year.
Cobalt is seen as one of the most expensive parts of an EV battery due to its rarity.
Svolt, spun off by Great Wall Motors in 2018, said its newly developed L6 battery has energy density of 240Wh/kg and would be fitted to a forthcoming Great Wall Motors vehicle next year, offering a range of 880km (547 miles) on a single charge.
The battery would come with a 1.2m km/15 year warranty.
