Contemporary Amperex Technology Ltd. (CATL) has just opened up about its major achievement in battery technology, the Chinese battery manufacturer claims that the company is ready to start the production of its new batteries that are made to last 1.24 million miles (2 million kilometers).
Zeng Yuqun, Chairman CATL revealed this information in a recent interview with Bloomberg at the company’s headquarters in Ningde southeastern China.
CATL supplies batteries to Tesla Gigafactory Shanghai where Made-in-China Tesla Model 3 production is in full swing and the Model Y compact electric SUVs are expected to hit the assembly lines soon as the 2nd phase of the huge factory building is being constructed at a fast pace.
In addition to Tesla, CATL has battery supply contracts with European automakers such as Volkswagen AG (specifically VW, Audi, and Porsche) and BMW and the Chinese giant battery producer also provides batteries to local EV manufactures such as Geely and FAW Group.
With the help of 5 manufacturing facilities and 3 R&D centers in China, CATL is able to mass-produce EV batteries and at the same time work on the next breakthrough technology.
The US-made 2170 form factor battery cell which is used in the Tesla Model Y and Model 3 vehicles has a lifespan of 1500 cycles or 465,000 miles (748,345 km) have mainly been made by Panasonic at Tesla’s Gigafactory Nevada — a 1.2 million-mile battery would be a huge leap forward, CATL thinks these battery packs will even exceed the lifespan of the vehicle itself and will be reusable in a new car, significantly driving down the cost of a new electric vehicle purchase in the future.
According to Bloomber New Energy Finance research, the sales of the internal combustion engine (ICE) cars have already reached a tipping point, and by 2040 pure batter electric vehicles (BEV) sales will surpass gas powered cars with an estimated 48 million EVs sold annually (see graph below).
According to CATL Chair Zeng Yuqun, he keeps in contact with Tesla CEO Elon Musk and they constantly share insights and ideas about the battery technology with a focus on driving down the cost of the battery cells which is the key in bringing Teslas and EVs to the reach of the mainstream market segment, ultimately fulfilling Elon’s dream of transitioning the world towards sustainable transport.
“We’re getting along well and he’s a fun guy,” Zeng said of Musk. “He’s talking about cost all day long, and I’m making sure we have the solutions.”Bloomberg
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