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The new material technology known as M3P can enable an electric
vehicle to run 700 km (430 miles) per charge combined with
CATL's next generation of battery pack technology, Zeng Yuqun
said at the World New Energy Vehicle Congress in Beijing on
Saturday.
The new materials will also lower the costs compared to nickel
and cobalt-based batteries, he added.
Zeng, however, didn't say what metals M3P batteries will use or
when mass production could start.
CATL, whose clients include Tesla, Volkswagen, BMW and Ford, is
the world's biggest battery maker accounting for more than a
third of the sales of batteries for electric vehicles (EV)
worldwide.
It aims to increase the lead over rivals such as LG Energy
Solution and BYD by accelerating expansions globally and
innovation in new battery technologies.
Wan Gang, Vice Chairman of China's national advisory body for
policy making, said the global market size of EV batteries is
expected to reach $250 billion by 2030, with demand exceeding
3.5 terrawatt hours.
CATL said in a separate announcement on Saturday that it will
supply Qilin batteries with its latest battery pack technology
to power Geely Automobile Holdings's Zeekr cars due to hit the
market in early 2023.
CALT launched the Qilin battery in June and touted a 13% higher
energy density compared to the same size of pack of Tesla's 4680
cylindrical battery cells-- denoting 46 millimetres in diameter
and 80 millimetres in length, while using same type of
materials.
(Reporting by Zhang Yan and Josh Horwitz; Editing by William
Mallard & Simon Cameron-Moore)
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