MUNICH — CATL will produce its upcoming fast-charging Shenxing battery at its plants in Germany and Hungary alongside China, principal engineer Gao Pengfei said at the IAA Mobility auto show in Munich.
The battery will be mass-produced in China from late 2023 and available in electric vehicles from 2024.
Gao declined to provide a timeline for production in Europe and said no offtake agreements had been finalized with customers in the region yet.
CATL, the world’s largest battery maker, claims the new Shenxing battery made with lithium iron phosphate, or LFP, will be able to drive 400 kilometers (248 miles) on a 10-minute charge and 700km at full charge.
LFP chemistry comes at a lower cost than the nickel-cobalt-manganese batteries used in cylindrical cells by automakers such as BMW or Tesla, Gao added.
CATL began production at its plant in the central German state of Thuringia in December 2022 and is building Europe’s largest battery plant in Debrecen, Hungary, with the aim of starting production in 2-3 years.