Tag: CATL

  • CATL to Mass Produce First 300-Mile Sodium-Ion Battery

    CATL to Mass Produce First 300-Mile Sodium-Ion Battery

    Key Takeaways

    1. High Energy Density: CATL’s sodium-ion batteries in the Naxtra series have an energy density of 175 Wh/kg, comparable to lithium iron phosphate batteries.

    2. Extended Range Capabilities: The Naxtra batteries can achieve over 300 miles of range on a single charge, marking a significant advancement for sodium-ion technology in electric vehicles.

    3. Resilience in Extreme Conditions: These batteries maintain capacity for over 10,000 charge cycles and perform well at extremely low temperatures, retaining 90% of charge at -40 degrees Celsius.

    4. Cost and Safety Advantages: Sodium-ion batteries offer lower costs and enhanced safety, as they do not contain flammable materials, reducing the need for reinforced casings.

    5. Mass Production Plans: CATL plans to start mass production of sodium-ion batteries for heavy-duty trucks in June and will begin delivering 300-mile Naxtra packs for electric vehicles by December.

    Battery producers such as BYD and HiNa have begun making sodium-ion batteries aimed at energy storage and smaller vehicles. However, the largest battery manufacturer in the world has surpassed them by revealing its new sodium-ion battery series for passenger electric vehicles, named Naxtra.

    High Energy Density

    The battery packs are constructed with CATL’s next-generation sodium-ion cells, boasting an impressive energy density of 175 Wh/kg. This energy density matches that of today’s lithium iron phosphate (LFP) batteries found in Anker power banks and popular electric cars like the Tesla Model Y, marking a significant advancement for sodium-ion battery technology.

    Extended Range Capabilities

    The Naxtra series features the first sodium-ion battery mass-produced for electric vehicles that can achieve a range of over 300 miles on a single charge. Besides being the first extended-range sodium-ion battery for passenger electric cars, CATL’s Naxtra battery offers all the benefits associated with sodium-ion technology when compared to lithium batteries.

    Resilience in Extreme Conditions

    This new sodium-ion battery maintains its capacity for over 10,000 charge cycles and performs well even in extremely low temperatures. CATL claims that its sodium-ion pack can keep 90% of a minimal 10% charge at -40 degrees Celsius, a challenge that lithium batteries struggle to meet. For instance, preconditioning a lithium battery, which uses its own energy to warm up before charging, is only effective when the charge is above 20%.

    In June, CATL plans to kick off mass production of sodium-ion batteries for heavy-duty trucks, intending to replace lead-acid batteries at half the cost. By December, they will begin sending out the first 300-mile sodium-ion Naxtra packs for customers to integrate into their forthcoming electric vehicle models.

    Cost and Safety Advantages

    While lithium prices have significantly decreased from their 2022 peak and sodium-ion batteries currently do not achieve half the manufacturing costs of lithium cells, sodium-ion chemistry presents various benefits beyond just a lower price point.

    These batteries can retain their capacity for a longer duration and under harsher conditions. A major advantage is their safety; unlike lithium cells with liquid electrolytes, sodium-ion batteries do not contain flammable materials, allowing them to endure various impact, puncture, or fire tests without needing reinforced casing like CATL’s lithium batteries.

    The battery manufacturer has even shared a testing video demonstrating that the Naxtra sodium-ion packs undergo rigorous endurance tests, succeeding impressively, which is promising for the safety of future electric vehicles utilizing the Naxtra sodium-ion battery in case of road incidents.

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  • CATL Sodium-Ion Battery Approaches LFP Energy Density at Lower Cost

    CATL Sodium-Ion Battery Approaches LFP Energy Density at Lower Cost

    Key Takeaways

    1. Cost Efficiency: CATL’s sodium-ion batteries are expected to be cheaper to produce than current iron phosphate (LFP) cells when mass production begins.

    2. Energy Density Advancements: Sodium-ion cells are approaching energy density levels comparable to LFP batteries, overcoming a key barrier to their broader adoption.

    3. Positive Market Outlook: The launch of the first sodium-ion power bank indicates a favorable trend for increased adoption of this technology and competitive pricing.

    4. Cautious Commercialization: CATL takes a conservative approach to commercialization, focusing on viable mass production rather than high-priced niche products.

    5. Solid-State Battery Timeline: CATL has experience in solid-state batteries but predicts widespread use won’t occur until after 2027, reflecting their cautious strategy.

    At a recent quarterly meeting with investors, Contemporary Amperex Technology Co. Ltd. (CATL), recognized as the largest battery manufacturer in the world, provided insight into its plans for sodium-ion cell production.

    Cost Efficiency in Production

    When CATL’s second generation of sodium-ion batteries is fully ramped up for mass production, the expenses involved will be significantly reduced compared to the current most economical battery type, which is the iron phosphate (LFP) cells.

    Advancements in Energy Density

    An even more crucial point in CATL’s sodium-ion battery progress update is the assertion that its sodium-ion cells are nearing the energy density levels of the common LFP battery technology, which is dominant in both 200W power banks and mainstream electric vehicles. This was previously the central barrier to broader sodium-ion battery adoption, as these batteries have mostly been utilized for proof-of-concept electric vehicles or energy storage projects that don’t demand high energy densities.

    Positive Outlook for Mass Adoption

    The recent introduction of the first sodium-ion power bank suggests a positive outlook for the widespread use of this technology. If CATL, the world’s leading battery producer, is making advancements in its development, then competitive pricing should follow soon after.

    CATL’s sodium-ion battery update is quite a notable advancement, not just because it claims that producing cells without lithium will be cheaper than LFP technology, but also because it believes that mass production is unavoidable. They stated, “once large-scale adoption is achieved, sodium-ion batteries will have a certain cost advantage over LFP batteries.”

    CATL’s Conservative Approach

    CATL has reached the top of the battery industry by being cautious with its commercialization predictions of new technologies. Unlike smaller startups striving for breakthroughs in solid-state or sodium-ion batteries that lead to high-priced and niche products, CATL prioritizes the mass production viability of new battery chemistries or packaging technologies.

    When NIO requested a collaboration on its battery utilizing 95% solid electrolyte, CATL dismissed the idea, citing the resources needed to fulfill existing orders for its numerous clients. NIO subsequently developed a 150 kWh semi-solid-state battery for its ET7 sedan with a startup, but CATL was correct in predicting that the battery became too costly, and now NIO is leasing it for extended summer journeys.

    Cautious Optimism for Solid-State Batteries

    This is not to imply that CATL lacks experience in solid-state battery development; they have a decade of work in this area. However, the company warns that widespread use won’t occur until after 2027. This is sooner than their earlier 2030 estimate, but CATL tends to prioritize caution, and a similar strategy appears to be in effect with their sodium-ion battery technology.

    Despite CATL’s sodium-ion battery energy density apparently nearing that of LFP batteries, the company seems to be taking a deliberate approach to refine the chemistry while considering what will be practical for low-cost mass production.

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  • CATL Launches Major EV Battery Swap Network for Faster Charging

    CATL Launches Major EV Battery Swap Network for Faster Charging

    Key Takeaways

    1. CATL is focusing on EV battery swap stations, aiming to replace depleted batteries in under 5 minutes, with a $346 million investment for a global network in collaboration with NIO Power.

    2. NIO vehicles can autonomously navigate to swap stations, with battery swaps taking about 3 minutes, supported by a new 15-year warranty for swapped batteries.

    3. The partnership between CATL and NIO aims to ensure 85% battery capacity retention after 15 years, surpassing Tesla’s 70% retention after 8 years.

    4. The initiative addresses key concerns for EV buyers regarding resale value and charging time, while also working towards global standards for battery swapping.

    5. CATL plans to establish a network of 30,000 battery swap stations, enhancing the entire lifecycle of batteries through R&D, swapping services, and recycling.

    As BYD revealed a new 1MW electric vehicle (EV) framework designed to make charging as quick as filling a gas vehicle, CATL, the largest battery manufacturer globally, is tackling the challenge in a different manner.

    Battery Swap Stations Initiative

    CATL is now focusing on EV battery swap stations which can replace a depleted battery in under 5 minutes. They plan to create the largest swap station network worldwide in collaboration with NIO Power, a leader in battery swapping, by investing $346 million into the project.

    In December, CATL introduced its #20 and #25 power packs, named in a style reminiscent of fuel octane ratings, like #95 or #98. Designed for battery swap stations, the #20 packs are available in 42 kWh LFP and 52 kWh nickel battery versions. Meanwhile, the #25 variant boasts a capacity of 56 kWh LFP and 70 kWh ternary battery models.

    NIO’s Automated Technology

    NIO vehicles have the capability to autonomously navigate to a station, swap their battery for a fully charged one in roughly 3 minutes, and then continue on their way. CATL serves as the primary supplier of batteries for these stations, and they are collaborating with NIO to provide a 15-year battery warranty for electric vehicles, an increase from the current 12 years offered on their swap station packs.

    This extended warranty could significantly impact the industry and positively affect the second-hand EV market. Presently, the standard warranty for batteries is 8 years, which may not suffice, especially with around 20 million EVs set to exit their warranty period in the near future, potentially harming the resale value of used electric vehicles.

    Setting New Standards

    The partnership between CATL and NIO is not only focused on establishing a 15-year warranty but also on ensuring that 85% of the battery’s capacity remains after that time, which is higher than the 70% capacity retention Tesla currently provides after its 8-year warranty period.

    Hence, the collaboration between CATL and NIO for the vast battery swap station network aims to alleviate two major concerns for prospective EV buyers: resale value and charging time. They are also working to create global standards for battery swapping to facilitate network expansion.

    NIO already runs thousands of swap stations both in China and internationally, while CATL will ensure that their network remains compatible and runs alongside it.

    According to CATL, the world’s largest EV battery swap network “will create a complete lifecycle loop that includes battery R&D, swapping services, asset management, reutilization, and material recycling, helping to lower costs and boost efficiency throughout the entire value chain.”

    When unveiling its #20 and #25 swappable battery packs, CATL expressed ambitions to ultimately create a network of 30,000 battery swap stations. Partnering with a pioneer like NIO is expected to “leverage their combined strengths in technology, management, platforms, and brand presence,” claims the largest battery manufacturer globally.

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  • BYD Exec: Solid-State Battery Demo Expected by 2027

    BYD Exec: Solid-State Battery Demo Expected by 2027

    Key Takeaways

    1. Solid-state batteries are a key focus for research, especially among electric vehicle manufacturers aiming to improve range.
    2. BYD plans to start demonstration projects for solid-state batteries around 2027, with wider availability expected by 2030.
    3. CATL aims for limited production of solid-state batteries in 2027, but high-volume production may face cost challenges.
    4. BYD’s battery material selection prioritizes cost and production stability, with trial production of single cells expected by 2024.
    5. Large-scale use of solid-state batteries is anticipated to begin late in the decade, with costs expected to align with current liquid ternary batteries.

    Solid-state batteries are a key focus in the research world, particularly among electric vehicle (EV) manufacturers looking to boost the range of their vehicles. BYD’s CTO for the battery division, Sun Huajun, mentioned that the company plans to start demonstration projects for solid-state batteries by around 2027. He made this statement during a recent forum and added that these batteries might not be widely available until 2030.

    Industry Progress

    Sun highlighted that advancements in solid-state batteries are consistent among major players in the industry. For instance, CATL, the leading global battery manufacturer, announced last year that it aims to begin limited production of its solid-state battery in 2027. Nevertheless, Wu Kai, the chief scientist of CATL, pointed out that achieving high-volume production could face challenges in lowering costs effectively.

    BYD’s Strategy

    According to Sun, BYD’s selection of materials for its batteries was influenced by factors such as cost and stability of production processes. The company initiated its research on solid-state batteries back in 2016 and is expected to reach trial production of single cells ranging from 20 Ah to 60 Ah by 2024.

    Future Outlook

    While it is anticipated that large-scale use of these batteries will not occur until late in the decade, Sun reassured that their affordability should not be a concern in the long run. As more options become available, costs are expected to align with those of liquid ternary batteries.

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  • Sodium-Ion Battery Breakthrough Matches Lithium’s Energy Density

    Sodium-Ion Battery Breakthrough Matches Lithium’s Energy Density

    The scientific effort to create affordable sodium-ion batteries as a potential substitute for lithium-based battery packs used in electric vehicles and energy storage is reminiscent of the intense research and development that fueled LFP batteries over the last decade.

    Price and Performance of LFP Batteries

    The phosphate batteries, which avoid the costly nickel and cobalt, have gradually seen a decrease in price. This has led to the emergence of portable power stations, such as the Anker SOLIX, which are available for under a thousand dollars on Amazon. Additionally, these batteries have shown improvements in energy density and charging capabilities in cold conditions. As a result, LFP batteries are becoming the preferred choice for mass-produced electric vehicles and energy storage solutions.

    Advancements in Sodium-Ion Technology

    A similar trend is unfolding with sodium-ion batteries. Sodium is around 50 times cheaper than lithium and is so plentiful that it can be extracted from seawater. After more than ten years of research aimed at developing a practical sodium-ion battery, the first electric vehicles and large-scale energy storage systems are starting to appear. Major battery manufacturers, CATL and BYD, are focusing more on sodium-ion production, even with the significant decline in lithium prices recently.

    Improving Energy Density

    One of the main drawbacks of sodium-ion batteries has been their energy density, which is gradually improving as more research from labs transitions into production. A recent breakthrough involves a sodium vanadium phosphate compound (NaxV2(PO4)3) developed by scientists from the University of Houston and various French universities, moving from theory to practical use.

    This new vanadium phosphate material enhances the theoretical energy density from the current average of 396 Wh/kg to 458 Wh/kg, which brings it closer to lithium-ion batteries. Moreover, the incorporation of vanadium helps maintain stability during quick charging and discharging cycles while providing a higher voltage of 3.7V compared to the conventional cells currently in use.

    Implications for Future Developments

    Researchers highlight that “the continuous voltage change is a key feature” since it improves the battery’s energy efficiency without compromising the stability of the electrodes. The team even refers to this advancement as “a game-changer” for the future of sodium-ion battery technology and suggests that their specialized process could potentially apply to other electrode materials as well.

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  • Tesla Model Y Juniper 4680 Battery Hurdles: Musk’s Overpromises

    Tesla Model Y Juniper 4680 Battery Hurdles: Musk’s Overpromises

    While Tesla is heavily investing in perfecting its affordable 4680 batteries to make the most of current government subsidies, the leader of the largest battery manufacturer has doubts about the feasibility of these efforts.

    CATL’s Perspective on US Investments

    In a recent discussion, CATL’s Chairman Robin Zeng shared insights on the company’s plans for production in the US, mentioning that they are open to various investments beyond just technology licensing agreements with Tesla and Ford. The Nevada Gigafactory is set to begin producing batteries using CATL’s technology as early as next year. Although the specific type of batteries being produced remains uncertain, the most likely option appears to be LFP cells. Despite Giga Nevada having a planned capacity of 100 GWh for 4680 batteries, Zeng expresses skepticism about the feasibility of achieving affordable cylindrical cells.

    Concerns About Musk’s Promises

    Zeng commented on Elon Musk, stating, “He excels in areas like chips, software, hardware, and mechanics,” but he lacks understanding of the 4680’s “electrochemistry,” which he believes “will ultimately fail.” The main issue with Musk, according to CATL’s CEO, is his tendency to “overpromise.” He added, “Maybe something requires five years, but he claims it’s only two. I asked him about it, and he said he wanted to motivate people. He probably thinks it takes five years, but if you trust him when he says two, you might find yourself in trouble.” Zeng recounted how he explained to Musk the challenges of producing cylindrical 4680 batteries at half the cost of Tesla’s existing cells, a claim made on Battery Day back in 2020, which left Musk speechless.

    Tesla’s Optimism and Future Plans

    In the recent quarterly earnings call, Musk expressed optimism that Tesla would not just match the manufacturing costs of suppliers such as LG or Panasonic but would also produce the 4680 battery at the lowest cost in the US. He stated, “The team is making great progress with the 4680 cell lines. It is getting very competitive. When you consider the total cost of a battery pack in the US, net of incentives and tariffs, the 4680 is on track to be the most cost-effective option.” While they haven’t quite reached that point yet, Musk believes they are close, adding that they have many ideas to improve further. He emphasized that Tesla will continue to source many cells from suppliers while also ramping up vehicle and stationary storage production.

    The important phrase here is “with incentives,” as the government provides $35 per kWh for US-made battery capacity, which will likely benefit Tesla significantly.

    Expanding Manufacturing Capacity

    Musk’s confidence is further bolstered by Tesla’s success with the cost-effective dry cathode method and the recent launch of the first Cybertruck utilizing these cells. The company is now looking to boost its 4680 manufacturing capacity to produce battery packs for the Model Y, Model 3, and Robotaxi. For example, the upcoming Model Y Juniper facelift is expected to feature 4680 batteries in the US, as Tesla aims to keep costs low and maintain pricing similar to the current model. However, there’s a possibility that electric vehicle subsidies could be cut with a new Trump administration, which means that the challenges with the 4680 battery’s “electrochemistry” might not be the only hurdle in terms of production costs.

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  • CATL Launches 500 Wh/kg Solid-State EV Battery Cell Trial Production

    CATL Launches 500 Wh/kg Solid-State EV Battery Cell Trial Production

    The largest manufacturer of electric vehicle (EV) batteries and energy storage systems, CATL, has commenced the sample validation of 20Ah solid-state battery cells utilizing its sulfide technology research.

    Initial Skepticism

    At first, CATL dismissed the rapid commercialization claims surrounding solid-state batteries. The company stated that after several years of research and development, it remains skeptical about their mass-market readiness before 2030 due to the high costs of production.

    Revised Outlook

    Recently, it has adjusted its forecast, suggesting that solid-state batteries could be available for high-end electric vehicles by 2027. CATL plans to provide its own cells featuring an all-solid electrolyte by that time.

    To facilitate this progress, CATL has assigned about 1,000 engineers to concentrate on the solid-state battery initiative. They have achieved an impressive energy density of 500 Wh/kg, which is nearly double that of batteries commonly found in standard electric vehicles.

    Overcoming Challenges

    Nevertheless, industry insiders mention that CATL still has some issues to resolve regarding charging speeds and battery life. This is the reason for the current sample validation phase for the 20Ah solid-state battery cells, which are essential components of EV battery packs.

    Once the charging and lifespan criteria are satisfied, CATL will need to tackle production engineering and scaling up manufacturing capacity, which are actually where it excels the most.

    CATL isn’t the only player in the solid-state battery arena, as other companies like BYD, Toyota, and Samsung are also making strides with their respective projects. However, CATL is seen as the most adept in this field. The chairman recently stated that CATL’s solid-state technology is significantly ahead of the competition. Given its progress to the sample validation phase for EV-grade cells, this claim may hold some truth.

    Industry Consensus

    Most companies that have disclosed their solid-state battery plans share a common goal: they aim to have their battery packs ready for electric vehicles by 2027. However, Toyota has cautioned that these solid-state batteries will likely be pricier than the existing ternary lithium cells that use liquid electrolytes, meaning they will initially be reserved for luxury electric vehicles in its Lexus lineup.

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  • CATL Launches Super Hybrid Battery: 173 Miles in 10 Minutes

    CATL Launches Super Hybrid Battery: 173 Miles in 10 Minutes

    The well-known electric vehicle battery giant, CATL, has introduced its new ‘Freevoy Super Hybrid Battery’. This innovative battery is set to redefine standards for plug-in hybrids (PHEVs) and extended-range electric vehicles (EREVs), boasting an impressive industry-first claimed all-electric range of 400 km. For those who keep track of hybrid advancements, this is a significant achievement.

    Addressing PHEV Limitations

    Traditionally, PHEVs have struggled with drawbacks that prevent them from matching the full electric vehicle experience. Many hybrid users find it rather frustrating that driving solely on electric power for long distances often leads to frequent charging breaks, making them reliant on internal combustion engines (ICE). With its claimed range of 250 miles (400 km), CATL seems ready to tackle this challenge directly.

    Quick Charging Capabilities

    Additionally, the Freevoy battery can gain up to 174 miles (280 km) of range with just a swift 10-minute charge. If CATL’s assertions prove accurate, this would significantly alleviate the range anxiety that has long plagued both PHEVs and EVs. With fast charging available, the Freevoy is in a prime position to compete with electric-only vehicles not only in terms of range but also charging ease, while still providing the safety net of an onboard gasoline engine in emergencies.

    Innovative Technology Behind Freevoy

    To achieve the capabilities of the Freevoy, CATL has merged various technological advancements. Notably, a breakthrough can be seen in its cathode, where a high-voltage electrolyte and a nano-protective coating work together to limit side interactions, protecting the active materials and enhancing stability. The cathode is further improved with the inclusion of high-energy, excited-state particles, which promotes a swift and steady flow of lithium ions through the material.

    Performance in Cold Weather

    Moreover, for those living in chillier regions where electric vehicles typically face challenges, Freevoy employs CATL’s sodium-ion technology. This technology merges sodium-ion and lithium-ion cells to maximize performance, allowing the battery to operate at temperatures as low as -40 degrees Celsius. This ensures not only that the battery preserves its range but also that it charges reliably in cold weather, alongside accurate state of charge (SOC) calibration, which has been a common headache for both electric and hybrid vehicles.

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  • CATL predicts strong growth in 2023 amidst worldwide surge in electric vehicles and competition

    CATL predicts strong growth in 2023 amidst worldwide surge in electric vehicles and competition

    Contemporary Amperex Technology (CATL), a prominent player in the electric vehicle (EV) battery industry, has experienced significant growth in 2023. The company expects a robust expansion, with a projected net profit between 42.5 billion yuan to 45.5 billion yuan, representing a growth rate ranging from 38.3% to 48.1%. This follows CATL’s impressive 92.89% net profit gain in 2022.

    CATL’s Optimistic Outlook

    CATL attributes its optimistic outlook to the global surge in electric car adoption. With a remarkable 37.4% market share in 2023, the company produced 233.4 gigawatt-hours of batteries. Although there was a 4.3% dip in Q3 2023 profits due to a currency exchange loss, CATL projects a strong Q4, estimating a profit of 11.35 billion yuan to 14.35 billion yuan. This increase is expected to be driven by higher sales volume and lower production costs.

    Challenges in the Chinese EV Market

    In the ever-expanding Chinese EV market, where approximately 40% of new cars are battery-powered, CATL faces challenges from smaller rivals and a deceleration in demand. Despite a 37% year-on-year increase in EV deliveries in 2023, CATL remains at the forefront, holding a 43.11% market share in China. However, this is slightly down from its 48.2% market share in 2022.

    CATL’s Global Significance

    CATL’s global significance is underscored by the fact that 40% of its products are sold outside mainland China. As the electric vehicle industry experiences a shift in dynamics, with BYD emerging as a formidable competitor, CATL’s market share in China has dipped slightly. BYD, China’s second-ranked EV battery maker, is forecasted to experience an 86.5% net profit increase in 2023, surpassing even Tesla in sales.

    Future Technological Advancements

    Looking ahead, CATL plans to introduce groundbreaking technological advancements. One notable example is the Shenxing battery, which offers a driving range of 400km in just 10 minutes. Additionally, CATL’s collaboration with Didi on battery-swapping technology reflects the company’s commitment to innovative solutions in response to evolving market demands.

    CATL’s Global Impact

    Despite challenges such as slowing demand and stiff competition, CATL remains a pivotal player in the global EV landscape. Its performance and strategic moves extend far beyond the Chinese market, solidifying its position as a leading player in the industry.

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  • Impressive 2023 growth numbers fast bridge worldwide battery usage gap for CATL

    Impressive 2023 growth numbers fast bridge worldwide battery usage gap for CATL

    CATL Expands Global Presence with Impressive Battery Usage Growth

    Chinese battery manufacturer CATL is rapidly expanding its global presence, according to a recent report by Korean firm SNE Research. From January to September 2023, CATL’s worldwide battery usage outside of its home market reached approximately 64 gigawatt-hours, marking a significant 104.9% improvement compared to the same period in 2022. Additionally, CATL’s global market share has increased by 7 percentage points within this timeframe.

    The remarkable results achieved by CATL have placed the company on par with South Korean manufacturer LG Energy Solutions, which currently holds a 28.1% market share. LG Energy Solutions reported a growth of 49.2% in battery usage during Q1-Q3 2023, although its global market share experienced a slight decrease. The fourth and fifth largest battery manufacturers globally, SK On and Samsung SDI, also witnessed an increase in their worldwide battery usage, reaching 24.4GWh and 21.6GWh, respectively.

    Despite CATL’s rising profile, South Korea still accounts for 48.3% of the global market share, representing a decrease of 5.8 percentage points from the previous year. The SNE Research report also revealed that global battery installations in electric vehicles reached 228GWh from January to September 2023, reflecting an impressive 54.9% increase compared to the previous year. This significant growth in battery installations indicates a corresponding increase in electric vehicle sales. Chinese EV maker BYD emerged as the world’s largest EV manufacturer, recording a battery usage of 4.1GWh. Another Chinese company, Farasis Energy, also demonstrated impressive growth with a battery usage of 3GWh.

    The outlook for CATL remains positive as the company continues to supply battery products to a wide range of EV makers. Among CATL’s prominent customers are Tesla, Mercedes, BMW, and Volvo, among others. The company has also expanded its reach by securing Hyundai and Kia as its most recent customers. CATL’s influence has rapidly expanded both locally and globally.

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