CATL Unveils EV Battery With Longer Range
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Contemporary Amperex Technology Co. Ltd. unveiled an electric car battery it said has a range of over 620 miles (1,000 kilometers) on a single charge and is 13% more powerful than one planned by Tesla Inc., a major customer.
CATL, as the worlds biggest maker of electric car batteries is known, will start manufacturing the next-generation Qilin next year, according to a video the Chinese company streamed online June 23. The battery charges faster than existing cells and is safer and more durable, CATL said.
The Qilin battery, named after a mythical Chinese creature, has an energy density of up to 255 watt-hour per kilogram, Ningde, Fujian-based CATL said.
Our Qilin battery achieves the highest integration level worldwide so far, with a record-breaking volume utilization efficiency of 72% and an energy density of up to 255 Wh/kg. Find out more: CATL (@catl_official)
Its an important advancement for CATL as it keeps them at the forefront on the innovation side, said Tu Le, managing director of Beijing-based consultancy Sino Auto Insights. Being the lowest cost provider isnt enough to command loyalty, there needs to be more to it and that seems to be the Qilin battery for CATL.
CATLs shares climbed 5.9% in Shenzhen, closing at the highest since Feb. 9.
The company said June 22 it raised 45 billion yuan ($6.7 billion) in a private placement of shares, with the proceeds intended for production and upgrade of lithium-ion battery manufacturing in four Chinese cities, as well as research and development.
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