Chinese electric vehicle battery manufacturer CATL on Monday unveiled the second generation of its “Shenxing” fast-charging battery. This advanced battery technology is set to be incorporated into over 67 new electric vehicle models within the year, marking a major step forward for the company and the EV industry.
At an event held in Shanghai, CATL’s Chief Technology Officer, Gao Huan, highlighted the impressive capabilities of the new Shenxing battery, stating that it can deliver a driving range of 520 kilometers with just a five-minute charge. Additionally, the battery can be charged from 0 percent to 80 percent in only 15 minutes, showcasing the rapid advancements in fast-charging technology that are critical for the wider adoption of electric vehicles.
Alongside the new Shenxing battery, CATL introduced a sodium battery product with an energy density of 175 watt-hours per kilogram. This development signals CATL’s broader commitment to diversifying its battery technology offerings and exploring alternatives to traditional lithium-ion batteries, which could potentially help reduce costs and alleviate supply chain concerns.
The company’s founder, Robin Zeng, has made clear his ambition to transform CATL from a battery supplier into a comprehensive green-energy provider. His vision includes making electric vehicle development more cost-effective and reshaping the financial landscape of the industry that has propelled CATL to global prominence.
CATL recently reported a 15 percent increase in net profit for 2024, which, while still positive, represents the slowest growth rate in six years. This slowdown comes amid an price war in China’s competitive electric vehicle market, which has exerted downward pressure on margins across the sector.