CATL, the Chinese company that is the world’s largest battery maker and one of Tesla’s leading suppliers, announced on Wednesday (16 August) a new fast-charging LFP battery - the first LFP battery to achieve this, according to the company.
The battery, called Shenxing, will enter mass production at the end of the year, CATL said. The first electric vehicles fitted with this type of battery are expected to arrive in the first quarter of 2024.
“We hope that, through continuous efforts to improve technology and reduce costs, Shenxing will become a standard product available for all electric vehicles,” Gao Han, Chief Technology Officer of CATL’s electric vehicle division, said, as quoted by Reuters.
It is worth noting that CATL leads the global market for electric-car batteries, with a 35% market share in the first quarter of 2023, according to SNE Research data.
CATL Shenxing LFP fast-charging battery: rollout plans
With Shenxing, CATL is aiming to bring rapid charging to lithium iron phosphate (LFP) technology - a segment that has grown in prominence as manufacturers look for alternatives to nickel-cobalt-manganese (NCM) lithium-ion batteries, which are still widely used by most European carmakers.
CATL’s timing also reflects how broadly LFP has already been adopted in China, where brands such as BYD have been using the chemistry for some time.
Why manufacturers are adopting LFP
There are further high-profile examples beyond Chinese brands. Tesla already uses this technology in the entry-level versions of the Tesla Model 3 and Tesla Model Y. Ford has also confirmed it will use these batteries in the Mustang Mach-E.
One of the biggest advantages of LFP batteries is cost. Because they rely on more accessible and abundant materials, they can be produced at a lower price than NCM batteries, which use more expensive, scarcer, and less sustainable materials.
LFP batteries also tend to offer a longer lifecycle than NCM packs, alongside greater thermal and chemical stability - characteristics that lower the risk of fires and explosions.
Drawbacks of LFP batteries have held them back
The usual trade-offs: range and cold-weather charging
Despite these benefits, LFP batteries have traditionally come with compromises versus the more expensive NCM alternatives. Energy density is lower (less capacity per cell, which translates into reduced driving range), and charging is less efficient, particularly in colder temperatures.
CATL says its new fast-charging technology changes that picture by removing the disadvantages tied to range and charging speed.
The company is promising ranges above 700 km (on China’s CLTC cycle, which is less demanding than the WLTP cycle) and says a 10-minute charge is enough to add 400 km of range.
CATL also states that it will be possible to restore 80% of range in just 30 minutes at temperatures as low as -10 °C, while also claiming that performance and acceleration will not be compromised in such conditions.
Will the price be affected?
On paper, CATL’s new approach looks highly promising and, in theory, resolves the two main weaknesses historically associated with LFP batteries.
The remaining question is how this advance will influence the price of LFP packs, whose lower cost has been their main selling point. It is important to remember that the cost per kWh of an LFP battery is currently around 20% to 30% lower than that of an NCM battery.
However, CATL has not yet commented on the price at which Shenxing batteries will reach the market.
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