What’s new: Two Chery Automobile Co. Ltd. models will be the first to be equipped with a revamped lithium iron phosphate (LFP) battery developed by Contemporary Amperex Technology Co. Ltd. (CATL) as it seeks to maintain its market dominance.
Two versions of each of Chery’s Sterra ES and Zhijie S7 sedans will be outfitted with CATL’s mixed battery pack, which consists of lithium manganese iron phosphate batteries and ternary lithium batteries, according to Ministry of Industry and Information Technology data released Monday.
A lithium manganese iron phosphate battery is a LFP battery that uses manganese as a cathode component to boost performance. CATL’s version of these batteries reportedly have an energy density that is 15% greater than LFP batteries, allowing them to power vehicles over longer distances on a single charge.
The background: In December, CATL and Chery’s parent company signed an agreement to work together in areas such as battery swapping and developing batteries for passenger cars.
Four months later, CATL announced that Chery will be the first carmaker to use its sodium-ion batteries, which are said to have advantages in how fast they can charge and how well they operate at low temperatures.
In the first half of 2023, CATL remained China’s No. 1 electric vehicle battery-maker by installed capacity with a 43.4% market share, down from 47.7% in the same period last year, according to the China Automotive Battery Innovation Alliance. BYD Co. Ltd. ranked second with a 29.9% share, while CALB Group Co. Ltd. had 8.3% of the market.
Contact reporter Ding Yi (yiding@caixin.com) and editor Michael Bellart (michaelbellart@caixin.com)
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