Chinese battery giant CATL has launched a fast charging lithium iron phosphate or LFP battery capable of running 400 km (248 miles) on a 10-minute charge.
Mass production of the new battery called Shenxing is expected by the end of the year while electric vehicles equipped with Shenxing batteries will hit the market in the first quarter of 2024,Gao Han, chief technology officer of CATL’s E-Car Business, told an online briefing.
“We hope through continuous efforts to improve technology and reduce costs, Shenxing will become a standard product available for every electric vehicle,” Gao said.
Automakers such as Chongqing Changan Automobile and Guangzhou Automobile Group also sourced more batteries from smaller suppliers to reduce costs.