Contemporary Amperex Technology Co. Limited (CATL) is a very famous Chinese battery manufacturer, specializing in the production of lithium-ion batteries for electric vehicles and energy storage systems. CATL is also the main battery manufacturer for Tesla and Volkswagen.
Recently, CATL announced it was able to produce batteries with a lifespan of more than 16 years, and power an electric car that runs a distance of nearly 2 million km. While the batteries used in Tesla cars today have a lifespan of about 8 years, and only run nearly 250,000 km.
The CATL batteries.
Extending the life of a battery is of great significance in the electric vehicle industry. Because it can be reused in other electric cars, it significantly reduces production costs, reduces selling prices and helps more people have access to this new technology.
CATL President Zeng Yuqun said: “If anyone orders, we will start production. Prices will be about 10% higher than current batteries, but the benefits are huge. ”
Concerns about reduced battery life and need to replace after a few years of use is a factor that prevents consumers from choosing electric cars, including Tesla cars. Last year, Tesla also intended to produce batteries that can operate over 2 million km, but have not come true.
In February, CEO Elon Musk went to Shanghai to meet Chairman Zeng, and Tesla signed a contract with CATL to produce batteries for electric cars for two years. Previously, Tesla only cooperated with Japanese manufacturers (Panasonic) and South Korea (LC Chem).
CATL’s Tesla battery factory.
The CATL batteries will be taken to Tesla’s giant manufacturing plant, newly built near Shanghai. So far, CATL is one of the world’s largest manufacturers of electric vehicle batteries, with a market capitalization of more than $ 47 billion.
The new CATL-made battery promises to explode the global market of electric cars, as the trend is being pursued by automakers. According to Chairman Zeng’s prediction, the number of electric vehicles will surpass gasoline-powered cars by 2030-2035.