Batteries that last 16 years, 2 million kilometers
Highlights
· CATL, a Chinese EV battery manufacturer has claimed to produce batteries which will last for 16 years and 2 million kilometers.
· The Chairman of the company has said that it will drop the concerns about battery running out in a long tour.
· The company has signed a contract for two years with the America’s leading EV maker Tesla to supply batteries to its Model 4 sedans.
Ever since Tesla created electric vehicles, it opened a gateway for new possibilities in automotive sector, it started a new competition not only between automotive manufacturers, but also between vehicle-battery manufacturers. Well speaking about competition, a Chinese battery manufacturer CATL (Contemporary Amperex Technology Co. Ltd.) who supplies car-battery to Tesla and Volkswagen has taken a surprising lead by claiming to produce a battery that could last 16 years and 2 million kilometers.
The Chairman of CATL, Zeng Yuqun has said that according to BloombergNEF, the batteries which are on warranties and are currently used in EVs have crossed eight years or covered 1,50,000 miles. From the looks of the sinking sales of automotive industry in this COVID 19 outbreak, an extended lifespan of such batteries can give a boost to the automotive market.
The company would cost the batteries 10% more than the batteries which are currently in use. Well this will certainly drop the concerns from the minds of audience about EVs losing power in between a long tour. Tesla and General Motors Co. has also stated to bring up batteries which can operate several of million miles.
CATL will supply batteries to BMW AG and Toyota Motor Corp. and has signed a two-year contract on February with the most valuable EV maker Tesla to supply batteries to Tesla’s new Model 3 sedans. This will have a major spike in the graphs of CATL market, moreover CATL has plans to build a production plant in Germany and also works with Audi unit Volkswagen. Batteries are the heart of EVs and looking at the continuous development of EVs overtime, CATL is taking a full advantage of this growth.
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