On April 19th, CATL unveiled its innovative cutting-edge battery technology – Condensed Battery at the 2023 Auto Shanghai.
The single-cell energy density can reach up to 500Wh/kg, creatively achieving high specific energy and high safety of batteries. It is expected to be mass-produced later this year.
Condensed battery is a type of lithium battery that has a higher energy density compared to other types of lithium batteries. Currently, the highest energy density for lithium batteries using ternary cathode materials is 350 Wh/kg. The energy density of condensed batteries has been increased by more than 40%.
CATL Chief Scientist Wu Kai said that currently we are collaborating on the development of civilian electric passenger aircraft using condensed batteries, and executing aviation-grade standards and testing. At the same time, CATL will launch an auto-grade version of the condensed battery, which will have mass production capability within this year.
During this year’s Auto Shanghai, in addition to the debut of Condensed Battery, CATL’s previously released Sodium-ion battery and Qilin battery have also been successfully implemented in vehicle models.
On April 18th, the Zeekr 009 vehicle equipped with CATL’s Qilin battery was officially delivered, becoming the world’s first mass-produced model using Qilin batteries.
At the same day, Li Auto announced that its first pure electric vehicle will become the world’s first mass-produced model equipped with the 4C Qilin battery. The term “4C” refers to a charging time of less than 15 minutes and achieving a remaining battery capacity of 80%.
As of 14:00 on April 19th, the stock price of CATL was RMB 412.25 (about USD 60), with a total market value of RMB 1.01 trillion ( USD 146.5 billion).