BYD killer? This 5-minute EV charging tech promises 520km range
What's the story
Contemporary Amperex Technology Co. Ltd. (CATL), the world's top EV battery maker, has unveiled its latest battery tech at an event in Shanghai.
CATL's new Shenxing battery cell can reportedly provide a range of up to 520km from just five minutes of charging time.
The announcement comes just days after BYD, an automaker with its own battery and semiconductor production, unveiled a similar system that can offer a range of about 400km in roughly the same charging time.
Market leadership
CATL's market dominance and sodium-ion batteries
CATL commands a major chunk of 38.2% in the global EV battery market, as per SNE Research data for January and February this year. Its nearest competitor, BYD, only has 16.9% share.
The event also included sodium-ion battery discussions, with CATL announcing its Naxtra sodium-ion cell is ready for commercial use after successful extreme condition testing.
This tech could offer up to 500km range for EVs and around 200km for hybrids.
Future plans
CATL's dual-power batteries and eVTOL ambitions
CATL also unveiled a range of dual-power batteries with different chemistries and energy densities, saying they can provide as much as 1,000km of range.
The company's success with car batteries has piqued its interest in more ambitious projects such as electric vertical takeoff and landing craft (eVTOLs).
Though not mentioned at the event, CATL has previously said its eVTOL powered by one of its electric cells can fly up to 250km at speeds reaching 200km/h.