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June 27, 2022

CATL to offer its 1,000km battery to local EV startups first

It unveiled the new battery last week.

Chinese electric vehicle (EV) battery manufacturer Contemporary Amperex Technology Ltd (CATL) said the first customers for its new Qilin 1,000km (620 miles) battery would be local EV startups Li Auto and Hozon New Energy Automobile.

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CATL is the world’s largest EV battery manufacturer with an estimated global market share of around 32%, thanks to its dominant presence in the world’s largest EV market where sales exceeded 2.9 million units last year.

It unveiled the new battery last week while also announcing it had successfully raised CNY45bn (US$6.7bn) to fund manufacturing investment and further R&D.

The company claimed the Qilin provides EVs with a range of over 1,000km (620 miles) on a single charge which is expected to be the longest range on the market when it goes into production next year. It was also said to be faster charging, safer and more durable than existing batteries. Its energy density of 255 watt-hour per kg is 13% higher than Tesla’s new 4680 battery.

CATL unveiled the Qilin at a time when the company was facing increasing tough competition in global markets, particularly from South Korean manufacturers such as LG Energy Solution, SK On and Samsung SDI, especially in the US where they have invested heavily to establish strong partnerships with the local auto industry. Its key domestic competitors include BYD and China Aviation Lithium Battery.

Free Report
img

What does the future hold for the US electric vehicles market?

The US Electric Vehicles (EV) market has established itself as one to watch. Despite China maintaining the number one spot, the US holds significant standing as one of the major EV markets, with GlobalData’s whitepaper identifying a strong growth trajectory within the forecast period. This report further analyzes the trends, market drivers, and government incentives set to influence and facilitate the market.   This report also looks beyond the US and touches on environmental concerns set to drive the EV market worldwide.   Want to find out more? This report demonstrates GlobalData Explorer’s sector analysis capabilities, showing how you can:  
  • Get historical and forecast market sizing data, with country specific insight for 22+ of the world’s largest industries
  • Track sector dealmaking activity, to view aggregate volumes, specific deals and top investors for all major deal types in M&A, Capital Raising, and Partnerships
  • Analyze news from GlobalData Explorer’s News Database – enable screening and alerts by industry, company, geography and news sentiment for filtered insight
  • Identify and track the key disruptive trends that are keeping the top digital thought leaders talking through social media analytics
  Consult this report now to find out how you and your company can benefit from our Explorer platform.
by GlobalData
Enter your details here to receive your free Report.

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