New challenge for Musk's Tesla? China's EV giant reveals next-gen battery with lightning-fast charging
China's battery powerhouse
CATL
has unveiled a new generation of
electric vehicle technology
that could threaten
Tesla
's global dominance. The company, which already supplies batteries to Tesla's Shanghai factory, said its upgraded Shenxing battery offers longer range, quicker charging, and better performance in cold weather, a leap that could bring electric vehicles closer to matching petrol cars on both price and practicality, as per the
New York Times
.
Announced at CATL's Tech Day in Shanghai, the new Shenxing battery boasts a 320-mile range and can deliver 200 miles of charge in just five minutes. By contrast, Tesla's Superchargers require 15 minutes to deliver the same mileage. 'Once again, we are pushing the boundaries of performance beyond limits,' said CATL's chief technology officer Gao Huan, who added that the goal is for the Shenxing battery to become the standard in EVs.
The company also introduced a new sodium-ion battery, branded Naxtra, which CATL says is a safer and more affordable alternative to lithium-based batteries. While these innovations are still a couple of years away from being widely available in production vehicles, CATL's announcement follows closely on the heels of a similar tech breakthrough by rival
BYD
, underlining the fierce innovation race within China's EV industry.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Scarlett Johansson, 40, Shows Off Her Real Size In A New Vacation Photos
33 Bridges
Undo
CATL, short for Contemporary Amperex Technology Company Ltd., currently produces around a third of the world's EV batteries and works with 16 of the top global carmakers. BYD, its main Chinese competitor, narrowly edged out Tesla in battery-powered EV production in 2024. It sold 1,777,965 units compared to Tesla's 1,773,443, aided by its dominance in plug-in hybrid sales and a rapid expansion of its ultra-fast charging infrastructure across China.
Other major Chinese automakers like Great Wall, Geely, and Chery are also aggressively pushing into international markets, banking on innovation and affordability to win over buyers. Geely owns stakes in Volvo, Lotus, and Aston Martin, while Chery has sold more than 15 million vehicles overseas. These moves come as China's domestic market becomes saturated and increasingly competitive.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Print
34 minutes ago
- The Print
Operation Sindoor: How Rafales, Pakistani J-10s & lots of propaganda moved global defence markets
But as the fog of war began to clear and these claims were found to be exaggerated, Dassault's shares staged a recovery, reflecting a broader market correction. A rally in defence stocks, particularly among Chinese firms, may be attributed to the speculation or claims that Pakistan Air Force (PAF) fighters, mainly Chinese-origin JF-17s and J-10Cs, had downed multiple Indian Rafale jets. This was the first instance of Chinese fighter jets being tested in real combat, attracting attention from defence watchers globally. Equally, it was the first time any claim emerged of a Rafale being shot down, an event that weighed on market sentiment, including on Dassault Aviation's stock. New Delhi: The impact of Operation Sindoor extended far beyond the battlefield as aerial battles continued in the stock markets. After India carried out precision strikes on nine terror camps in Pakistan and Pakistan-occupied Kashmir in the early hours of 7 May, global defence markets reacted with notable fluctuations, reflecting investor sensitivity to regional tensions. ThePrint examines how the 88-hour India-Pakistan standoff sent ripples through global defence markets, impacting the stock prices of the Aviation Industry Corporation of China (AVIC) and its subsidiaries, as well as Lockheed Martin and Dassault Aviation. Stock prices are compared from the day Operation Sindoor began through to the closing figures on Thursday, with all values converted to INR using the prevailing exchange rates at the time of reporting. Also read: Defence stocks surge continues amid escalating India-Pakistan tensions since Pahalgam attack Pakistan's propaganda of multiple Rafale jets being shot fuelled Chinese defence stocks China's state-owned Aviation Industry Corporation of China (AVIC), particularly its Chengdu Aircraft division, saw one of the sharpest stock moves. AVIC Chengdu, which designs and manufactures the JF-17 and J-10C fighter jets used by the Pakistan Air Force, surged from Rs 828 on 7 May to Rs 1,145 by 12 May, witnessing a massive 38 percent jump in five days. Although the stock had cooled to Rs 939 by Thursday, it retained a net gain of 13 percent since the launch of Op Sindoor. Furthermore, another subsidiary of the state-owned AVIC group—AVIC Airborne Systems—which supplies precision avionics and weapons for the J-series jets operated by Pakistan, also saw a modest rise. Its stock climbed from Rs 136 to Rs 144 between 7 May and 12 May, marking a 5.9% increase that reflected growing investor confidence in China's deepening role in Pakistan's defence supply chain. By Thursday, however, the stock had eased slightly to Rs 138. Other than the speculation of these Chinese origin fighters performing exceedingly well, these spikes are also driven by investor belief that Pakistan might accelerate fighter acquisitions to strengthen its aerial capabilities following Operation Sindoor. Reports indicate that Pakistan could take delivery of the fifth generation FC-31 stealth fighter, the export version of China's J-35A, later this year. According to the latest Stockholm International Peace Research Institute (SIPRI) report, Chinese equipment accounted for 81 percent of Pakistan's major arms imports over the past five years. Subsequently, during last month's hostilities, Pakistan fielded a range of Chinese-origin platforms, including JF-17 and J-10C fighter jets, HQ-9B long range air defence systems, HQ-16 medium range air defence systems, PL-15E beyond visual range air-to-air missiles (BVRAAM) and Chinese unmanned aerial vehicles (UAVs). Beyond the loss of a couple of PAF aircrafts, several Chinese-supplied HQ-9B long-range and HQ-16 medium-range air defence systems were taken out by Harpy and Harop loitering munitions sourced from Israel. Additionally, the recovery of debris of a PL-15E beyond-visual-range air-to-air missile (BVRAAM) was confirmed by DG Air Operations (DGAO) Air Marshal A.K. Bharti in a press briefing. It was learnt that the much-discussed Chinese PL-15E missile failed to register a single hit during the conflict. Also read: Pakistan to go in for J-31 Chinese stealth fighters. What this could mean for balance of air power Western defence giants and market sentiment Western defence companies, from France's Dassault Aviation to the U.S.-based Lockheed Martin, experienced divergent market responses, shaped as much by battlefield developments, speculative reports and domestic developments. Dassault Aviation, the manufacturer of India's Rafale jets, recorded a 6.4 percent decline between 7 and 12 May, with its stock falling from Rs 31,406 to a low of Rs 29,405. However, it had rebounded back to Rs 31,367 on Thursday, nearly regaining its pre-drop value. Incidentally, while Dassault Aviation hit its lowest point on 12 May, China's AVIC Chengdu registered its highest stock price during the same period, highlighting the contrasting market sentiments around the two defence suppliers amid the conflict. The initial dip may have been driven by concerns over possible losses, as the Indian Air Force did suffer setbacks during the operation, first hinted at by Air Marshal A.K. Bharti during the tri-services briefing held on 11 May and later confirmed by Chief of Defence Staff General Anil Chauhan in a Saturday interview with Bloomberg TV. Yet the Rafale jets, armed with SCALP cruise missiles and AASM Hammer glide bombs, carried out precision strikes on multiple targets across Pakistan and Pakistan-occupied Kashmir. The subsequent rebound in Dassault's stock suggests renewed investor confidence in the aircraft's combat effectiveness and strategic value. Furthermore, on Thursday, it was announced that the Rafale fighter aircraft fuselage will now be manufactured domestically by Tata Advanced Systems, strengthening its position as a strong contender for the Multi-role Fighter Aircraft (MRFA) programme. In contrast, Lockheed Martin, whose F-16 fighters once formed the backbone of the Pakistan Air Force, registered only a modest 1.34 percent gain during the same period, with its stock rising from Rs 40,449 on the day Operation Sindoor was launched to Rs 40,990 by Thursday. The limited uptick can be attributed to heightened interest in the American aerospace giant's F-21, an advanced 4.5-generation fighter pitched as a potential contender for India, especially after unverified reports of Rafale being downed during Operation Sindoor drew the attention of investors and defence analysts. Lockheed Martin's uptick movement in stocks may also be linked to U.S. President Donald Trump's announcement on 15 May for the development of an upgraded 'F-22 Super' and a twin-engine variant of the F-35, provisionally dubbed the F-55. How speculation, politics and perception shape market swings Analysts also point out that stock movements observed since 7 May were driven not just by battlefield results but by narrative, politics and investor psychology. 'From a market perspective, defence procurement is a massive business. During events like Operation Sindoor, exaggerated speculation and misinformation are to be expected, especially when they serve the interests of those looking to profit,' Dr Vikas Gupta, CEO and smallcase manager at OmniScience Capital, told ThePrint. Big-ticket defence exports such as fighter jets are typically sealed through government-to-government agreements that generate employment and strategic influence for the given party, he added. 'At times, even governments may quietly encourage certain narratives if they align with their economic interests.' Dr Gupta also pointed out how China's market mechanics differ from the West. 'In China's case, there's an added layer of complexity. Beijing can directly intervene in markets, banning short selling, for instance, to stabilise or boost the performance of AVIC subsidiaries. That kind of intervention isn't feasible in countries like France, where the government usually avoids market interference.' Ultimately, the swings observed in the wake of Operation Sindoor reinforce a perceived reality of defence stocks remaining highly reactive to geopolitical flashpoints, with prices shaped as much by perception, speculation, politics and investor psychology as by actual battlefield performance. (Edited by Viny Mishra) Also read: Operation Sindoor signals a real paradigm shift, says ex-IAF chief. 'We hit where it hurts the most'
Mint
an hour ago
- Mint
Critical minerals will remain a problem in US-China talks. These industries are at risk.
Critical minerals will likely remain a source of leverage for Beijing in trade talks with the U.S., even if President Donald Trump's Thursday call with Xi Jinping speeds up the flow of rare earths to feed auto, industrial and other supply chains. The issue dates back to early April, when China imposed restrictions on exports of the metals as part of its retaliation against Trump's imposition of tariffs of up to 145% on its exports to the U.S. In mid May, after negotiators met in Geneva, the U.S. said China had agreed to lift the restrictions as the countries agreed to a 90-day pause on levies that were choking off trade between them. The problem is that while China is allowing exports of rare earths, used in magnets that go into automobiles, for example, companies that want to export them need licenses. Companies say they aren't easy to get, though Reuters reported on Friday that Beijing had granted temporary licenses to suppliers of the big three U.S. auto makers. Its report cited people familiar with the matter. A spokesperson from the Chinese embassy said he wasn't aware of the situation specifically related to the licensing, reiterating that the export control measures are in line with international common practices, nondiscriminatory, and not targeted at specific countries. While only a fraction of the members of the American Chamber of Commerce in China—mostly technology and industrial companies—were affected by rare-earth export restrictions, three-quarters of those said their supplies would run out within three months, according to a survey from the trade group. While the survey found that Chinese suppliers to U.S. companies had recently been granted six-month export licenses, they noted continued uncertainty because there is a large backlog of license applications. Gracelin Baskaran, a mining economist and director of the Critical Minerals Security Program at the Center for Strategic and International Studies, said about 25% of licenses applied for have been given out, but that they aren't being processed fast enough. Part of that is due to the administrative task. China is the source of 100% of the rare-earth processing capability in the world, so it is issuing licenses for exports not just to the U.S., but for many other countries. But it could also be part of the negotiations. 'China has made it very clear it's not satisfied with the 90-day tariff pause and looking for a more durable solution to the tariff conundrum," said Baskaran, noting the deflationary impact of the tariffs on China's economy. 'It's not in their incentive to give out licenses quickly as their economy is in a downward spiral. These licenses are their leverage." The U.S. had been the dominant rare-earth producer until the 1990s, but China steadily took market share, ramping up production to levels that made it unprofitable for others, forcing them out, Baskaran said. A similar phenomenon is currently under way in nickel, she U.S. has been producing rare earths in California and is building out separation and processing capabilities, with companies like MP Materials boosting their refining abilities. 'It's a perfectly solvable problem and one the U.S. is working at warp speed to address," Baskaran said. 'It's not a forever problem." That said, it could continue be a source of pain, leaving the U.S. vulnerable in talks with China. An array of industries reliant on these critical minerals, from autos to electronics, semiconductors, and defense, are likely to suffer. Write to Reshma Kapadia at
Mint
an hour ago
- Mint
How the cybertruck came to embody Tesla's problems
The bromance between Elon Musk and President Trump is ending at a difficult time for Tesla. The electric-vehicle maker lost roughly $150 billion of market value Thursday—its biggest ever drop—after the Tesla CEO and Trump traded insults. Sales of Teslas have slumped this year. Tariffs could disrupt the supply of key components. The sprawling Republican tax-and-spending bill would end tax credits for EV buyers. And Tesla's Cybertruck has been a disappointment. Musk set high expectations for the Cybertruck, telling investors it would be Tesla's 'best product ever." The angular, stainless steel pickup was supposed to generate buzz for Tesla by showcasing new technology and unlocking the lucrative truck market. Instead, it has become synonymous with Musk's polarizing stint in politics, exposing some owners to graffiti or middle fingers from other drivers. And its reputation has been tarnished among Tesla fans because of a spate of recalls and manufacturing issues that have resulted in cycles of repairs. In the U.S., the company sold fewer than 40,000 Cybertrucks in 2024—well below Musk's ultimate goal of 250,000 a year. In the first quarter of 2025, Tesla sold around 7,100 Cybertrucks in the U.S., according to registration data from S&P Global Mobility. Ford's F-150 Lightning pickup outsold it. In an effort to boost sales, Tesla has rolled out lower-price versions of the truck and started offering buyers incentives such as 0% financing and free upgrades. Almost as soon as the $100,000 Cybertruck hit the road, quality problems began to multiply. Reports on social media cited cracked windshields and spotting from so-called rail dust, orange discoloration similar to rust. In its first year, Tesla recalled the truck seven times to fix dangerous defects. In March, with large metal panels falling off the trucks, the tally rose to eight. Some of the quality problems were known and documented internally before the truck went on sale, including issues with the accelerator pad and windshield wiper that later triggered recalls, said former employees who worked on the Cybertruck. But there was pressure inside Tesla to get the truck to market quickly, according to these employees. Tesla didn't respond to requests for comment. 'Elon Musk will tell you the biggest professional mistake was the falcon doors on the Model X," said David Fick, a longtime Tesla owner who got his Cybertruck in March. He referred to the complex door design that opens upward and hinges at the roof. 'I believe that the Cybertruck is going to go down as an even bigger corporate stumble." The retired banker in Boynton Beach, Fla., chose to wait more than a year to buy his Cybertruck, hopeful that many of the biggest issues would be identified before he drove his off the lot. 'They do a lot of bleeding-edge stuff where they rush to the market and then you're a beta tester as an owner," Fick said. He paid about $72,000 for the car, plus $7,300 for window tinting and a custom wrap for exterior trim panels known as cant rails, covering his new car in a metallic maroon color. Soon after, Tesla recalled cant rails because they could become unglued. 'I've had tons of recalls on my Teslas over the years," said Fick, who added that the cars are worth the hassle. 'Eighty percent were fixed by [software] updates, but these are physical things we are dealing with now." Musk unveiled the prototype for the Cybertruck in 2019. At the time, he said it would cost $39,900, with a battery range of up to 500 miles—an ambitious combination that would be a stretch for any EV maker. Work on the vehicle was delayed a couple of years, leaving engineering and manufacturing teams with only a few months to do final testing before the trucks went to customers, former employees said. Musk tried to temper expectations around how quickly Tesla could increase production, given its unique design. 'There is always some chance that Cybertruck will flop, because it is so unlike anything else," he wrote on social media in July 2021. Still, he promoted some of its most unusual features, including his dream of making the car amphibious. Former employees said they took Musk's social posts as orders, but the engineering proved difficult. By 2022, it was clear internally that Cybertruck wouldn't be able to meet all Musk's criteria, so engineers scrapped an early design and started over—developing a smaller, landlocked version of the truck, the people said. After about a year and a half of testing, Tesla delivered the first Cybertrucks to a dozen or so customers in late November 2023. An early version of the truck started at $100,000 and had an estimated range of 318 miles. Two months later, Tesla issued its first recall on the vehicle: a software update that required the company to increase the size of the font on a warning system used across its fleet. It was the first of three recalls that Tesla addressed on the Cybertruck through over-the-air updates to its software. Cybertruck's problems couldn't be fixed by software updates alone. In April 2024, Tesla issued a recall for the accelerator pedal. The company had received a notice from a customer complaining that the accelerator had gotten stuck. Tesla found that the pad attached to the long pedal could dislodge and get stuck in the trim above the pedal, causing the car to accelerate. An internal investigation found the issue was the result of an 'unapproved change," in which Tesla employees used soap as a lubricant to attach the pad, according to the recall notice. Inside Tesla, the accelerator pad had been a known issue starting with the prototype, according to an employee who worked on the part. The manufacturing team also identified the part as problematic, this person said. Tesla also had problems with the Cybertruck's expansive windshield, which measured nearly 6 square feet. Sometimes the heavy glass would break, two employees said. The glass either arrived cracked from the supplier in Mexico or from handling at the Austin, Texas, facility, they said. Some owners took to social media to describe the glass cracking as soon as they drove off the lot, or while they wiped the inside of their windshield. The windshield required a large windshield wiper measuring 50 inches long. In June 2024, Tesla issued a recall on the wipers, whose motors Tesla found had been overstressed by testing. The wiper had been flagged nearly a year before, two people who worked on the Cybertruck said. It was one of the first issues identified on the vehicles, at which point it was classified as a 'gating issue," which meant that it needed to be resolved before production could move forward. Reid Tomasko, a 25-year-old YouTube creator, took his Cybertruck on a cross-country trip, during which it performed perfectly, he said. Then came winter in New Hampshire. He was driving near his home in Lebanon, N.H., in February when a metal panel flew off the side of his truck. In March, Tesla issued a recall affecting most of the Cybertrucks it had produced—more than 46,000. The problem involved adhesive that could become brittle in extreme weather, causing exterior trim panels called cant rails to dislodge. Inspecting his truck, Tomasko said he found loose connections on almost every panel that used the adhesive, including the large pieces of stainless steel over the rear wheels, the front fender and the front doors. 'I was wondering, why are they not recalling the other panels?" Tomasko said. After replacing several panels, Tesla offered to buy back Tomasko's truck for nearly all of the $102,000 that he paid, he said. He accepted. 'I am planning on getting a newer one for cheaper soon," he said. Write to Becky Peterson at
