China ' s CATL reported on work on new materials for electric motor batteries that would increase the capacity by 10-20% compared to existing lithium-iron-phosphate .
The new technology, called M3P, will provide electric vehicles with a range of 700 km with a full battery charge, declared the company's top manager in his speech at the World New Energy Vehicle Congress in Beijing. He added that new materials would reduce the cost of power elements compared to nickel and cobalt batteries. Unfortunately, Mr. Zeng did not specify which metals were used in M3P batteries and when mass production started.
CATL, which includes Volkswagen, BMW and Ford, is the world ' s largest producer of traction batteries, occupying more than one third of the world ' s power supply market for electric vehicles. Further prospects for its growth and the possibility of increasing the distance from competitors through LG Energy Solution and BYD are seen in the expansion of battery production and new technologies.
The Chinese giant recently announced the Qilin technology, which will provide a 13 per cent increase in energy storage density compared to the Tesla 4680 standard elements. The first customer of a new type of battery will be Geely's electric vehicle brand Zeekr, which will be available on the market in early 2023.