Contemporary Amperex Technology Co. Ltd. (CATL), the world’s largest electric vehicle battery maker, has introduced a new generation of batteries capable of delivering up to 520 kilometers (323 miles) of range with just five minutes of charging. The innovation, revealed Monday at CATL’s annual Tech Day event in Shanghai, aims to address consumer concerns about EV charging time and durability.
The upgraded Shenxing battery, showcased alongside several other technologies, marks a significant step in CATL’s efforts to stay ahead of rivals like BYD, which recently debuted a fast-charging system offering 400 kilometers of range in a similar timeframe.
CATL also announced that its sodium-ion battery, branded “Naxtra,” is ready for commercialization. The company demonstrated the battery’s resilience in extreme conditions, including sub-zero temperatures and fire exposure, with zero degradation in performance. Naxtra is expected to provide up to 500 kilometers of range for EVs and 200 kilometers for hybrid vehicles.
Additionally, CATL unveiled a dual-cell battery system capable of powering a car for 1,500 kilometers on a single charge — a record-setting benchmark for the EV market. The company achieved the extended range by pairing a super-fast charging battery with a separate auxiliary cell.
Despite mounting pricing pressures and intensifying competition, CATL maintains a dominant 38.2% share of the global EV battery market, with Tesla and Ford among its top customers. BYD follows as a distant second with a 16.9% market share, according to SNE Research.
Executives acknowledged the industry’s ongoing “rat race” in pricing but emphasized the importance of innovation.
Although CATL did not discuss its eVTOL (electric vertical takeoff and landing) ambitions at the event, the company has previously stated that its flying, battery-powered aircraft can travel up to 250 kilometers at 200 kilometers per hour.
CATL’s technological leadership continues to drive profitability. Earlier this month, the company reported a 33% year-over-year increase in Q1 net income to 14 billion yuan ($1.9 billion) despite weaker-than-expected revenue growth of 6%, totaling 84.7 billion yuan.
