CATL-Electric vehicle battery that can last for 16

years

Contemporary Amperex Technology Co. Ltd (CATL), the world’s largest Chinese battery manufacturer developed a battery pack that lasts or more than a million miles that means it can last for 16 years. The company makes electric car batteries for Tesla Inc. and Volkswagen AG.

Electric vehicle battery

The Contemporary Amperex Technology company Chairman Zeng Yuqun said that it is all set to produce a battery that can give you 2 million kilometres (1.24 million miles). The company is specialised in manufacturing lithium-ion batteries for electric vehicles and energy storage systems and also battery management system. Currently, the batteries are getting warranties for electric cars cover about 150,000 miles or eight years.

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Here is the key benefit in this battery is extending the lifespan of the battery which can also be reused in a second vehicle. Using this battery for the second vehicle will lower the expense of owning an electric vehicle. This will help the companies to recover the sales momentum which was decreased or lost due to the coronavirus pandemic all over the world.

Zeng said that “If someone places an order, we are ready to produce,” but he didn’t disclose the details if the company made any contract for the long-distance product signed. While talking about the price of this kind of battery, Zeng said that it will cost about 10% more than the batteries now inside EVs.

The main reason for the slower of electric vehicles adoption is the concern about the batteries that lose strength after a few years results in replacing the battery of electric vehicles. Last year Tesla flagged it expected to bring into production a battery that can go a million miles.

The CATL is investing in the research and development in battery technology to return to the growth of the EV industry as the COVID-19 outbreak dragged down the sales this year. But the demand for electric vehicles will pick up in early 2021 said, Zeng.

“The pandemic may have a lasting effect throughout 2020, but won’t be a major factor next year,” Zeng said. “We have great confidence in the long run.”

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CATL has signed a contract in February with Tesla to supply batteries, worked with Japan’s Panasonic Corp and South Korea’s LG Chem Ltd. The CATL batteries are set to go into Tesla’s Model 3 sedans produced at Tesla’s new factory near Shanghai.

CATL, which is adding a production facility in Germany, is set to make more than 70% of batteries required by BMW, an early customer, Zeng said. CATL also works with Volkswagen’s Audi unit and is cooperating with Porsche, he said.

“Our team has made achievements in competing with our global rivals in overseas markets,” Zeng said.

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