China's Contemporary Amperex Technology Limited (CATL), the world's largest electric vehicle battery manufacturer, has introduced a new generation of battery technology that will intensify industry competition. The new "Shenxing" battery offers a range of approximately 500 kilometers (320 miles) with just a 5-minute charge.
This announcement comes shortly after Chinese rival BYD introduced its new battery technology last month, dubbed the "Tesla killer," which offers a 400-kilometer range with a 5-minute charge. In comparison, Tesla's Supercharger technology offers only a 320-kilometer range in 15 minutes.
CATL's Technology Director, Gao Huan, stated at the company's "Technology Day" in Shanghai, "We are pushing performance boundaries again. Our goal is to make the Shenxing supercharging battery the new standard for electric vehicles."
The Shenxing battery, when fully charged, can provide a range of up to 800 kilometers (500 miles) and can charge from 5% to 80% in just 15 minutes, even at temperatures as low as -10°C (14°F).
CATL also introduced the "Naxtra," a new sodium-ion battery model that is safer and more affordable compared to lithium and lead-acid batteries. The abundant availability of sodium significantly lowers production costs, and the battery is more resistant to fire and explosions. The Naxtra battery offers a range of about 500 kilometers (310 miles) and is expected to enter mass production by the end of the year.
CATL, which supplies batteries to major brands such as Tesla, BMW, Volkswagen, and Ford, remains the largest battery supplier globally with a 38% market share in 2024, marking its eighth consecutive year in this position. Its rival BYD holds the second position with 17.2%.
CATL is also targeting continued global growth through a secondary public offering in Hong Kong. According to company data, by the end of 2024, one in every three electric vehicles worldwide will be powered by CATL batteries.
CATL officials noted that the tariffs on Chinese products imposed during former President Donald Trump's administration had limited impact on the company, as the American market constitutes only a small portion of its total shipments. However, the company has been developing alternative plans and engaging in solution-focused discussions with clients since last year.
