Chinese battery giant CATL announced a new generation of batteries for electric vehicles. The batteries with the name Qilin are characterized by increased energy density, which will give the electric vehicles equipped with them a longer range. Mass production of new batteries is scheduled to begin in 2023.
CATL Qilin batteries provide consumers with the world’s highest volume utilization rate of 72%; For comparison, for the batteries released by the company in 2019, it was 50%. The energy density of the new generation batteries will be 255 Wh/kg.
The manufacturer has not yet said whether there are orders for the new generation of batteries from car manufacturers. Today, CATL supplies batteries for brands such as Tesla, Volkswagen, BMW and Nio. In the first quarter, the Chinese giant reported a loss of 24% of its net income amid problems arose from a surge in commodity prices. In May, CATL said it expected earnings to improve in the second quarter as product prices had to be raised. In the first 4 months, the company’s total battery capacity sold was 41.5 GWh, more than double that of its closest competitor LG Energy Solution.
Earlier it became known that CATL is currently examining the possibility of building two plants for the production of batteries for electric vehicles in the USA at the same time.