Latest news with #DavisZhang
South China Morning Post
01-05-2025
- Automotive
- South China Morning Post
Chinese EV industry pits battery swapping technology against ultra-fast charging
Efforts by the Chinese electric vehicle (EV) industry to reduce consumer anxiety about driving ranges have pitted battery swapping technology against ultra-fast charging capabilities, even though both save time for drivers. Advertisement 'Carmakers and consumers now have two options as they choose which kind of EVs to buy,' said Davis Zhang, a senior executive at Suzhou Hazardtex, a supplier of specialised batteries, in an interview last week. 'Each of the technologies has its own advantages and disadvantages, but they will coexist over a long period of time.' The battery swap model allows EV owners to exchange a spent pack for a fully charged one in just 100 seconds. And fast-charging technology gives a vehicle 400km of driving range in five minutes. CATL plans to build 1,000 stations to support battery swapping in China this year. At the end of 2024, Robin Zeng Yuqun, the company's founder and chairman, said CATL had secured subscription orders for 107,500 of its Choco-SEB swappable batteries from more than 30 companies. Advertisement Nio and CATL showed off their latest product offerings at the Auto Shanghai trade show, which ends on Friday. But they are grappling with BYD to attract visitors at the show. The world's largest EV builder – also a battery maker – had on display its Han L and Tang L vehicles that are supported by its Super e-Platform, which offers peak charging power of 1,000 kilowatts (kW) or 1 megawatt (MW). The Shenzhen-based company started deliveries of the two models last month. Battery swapping has the potential to save a car buyer as much as 40 per cent of the cost of owning a new EV – amounting to 40,000 to 50,000 yuan (US$6,876) – because they can rent batteries from the carmakers or other firms.
South China Morning Post
15-04-2025
- Automotive
- South China Morning Post
China's EV battery king CATL joins with Sinopec to build swapping-station network
Advertisement The company, based in Ningde, in east China's Fujian province, will partner with oil giant Sinopec Group and smart EV assembler Nio to create a charging network covering the mainland, it said in a filing with the Shenzhen Stock Exchange on Monday. In addition, the company said Hong Kong and Macau would soon see their first swap stations, which allow owners of compatible EVs to exchange a spent battery pack for a fully charged one in just 100 seconds. CATL and Sinopec committed to an 'extensive and long-term strategic partnership' to build a 'battery-swapping ecosystem across the whole nation', according to the agreement signed early this month. CATL said it aimed to build 30,000 swapping stations, without giving a specific timetable. 'CATL's efforts to promote battery swapping nationwide, particularly with Sinopec as a partner, will convince more EV makers and drivers of the advantage of using this technology because it is faster and more efficient,' said Davis Zhang, a senior executive at Suzhou Hazardtex, a supplier of specialised batteries. 'As more stations are built, an increasing number of new models will adopt swappable batteries to attract car buyers.' Advertisement Swapping technology aims to ease range anxiety. At present it takes at least 10 minutes via ultra-fast charging technology to give an EV 400km of driving range. However, BYD has unveiled a charging technology that it claims can provide the same range in just five minutes
South China Morning Post
11-02-2025
- Automotive
- South China Morning Post
Hong Kong IPO: EV battery king CATL files plan to pursue global expansion
Published: 9:10pm, 11 Feb 2025 Contemporary Amperex Technology , the world's largest producer of batteries for electric vehicles (EVs), is proceeding with a plan to list its shares in Hong Kong in what could be the city's biggest initial public offering (IPO) in more than four years. CATL, as the Chinese company is known, submitted its application draft with the Hong Kong stock exchange on Tuesday, following the board's approval in December. The IPO size and timeline were not disclosed. A US$5 billion deal, as reported by Reuters, would rank as the largest since Kuaishou Technology raised US$6.2 billion in January 2021. BofA Securities, China International Capital Corp, China Securities International and JPMorgan Chase were listed as joint sponsors, while Goldman Sachs, Morgan Stanley and UBS will also have an unspecified role in the deal, according to the draft. CATL's yuan-denominated shares fell 2.6 per cent to 251.80 yuan in Shenzhen before the announcement, giving it a market value of 1.1 trillion yuan (US$150.5 billion). They have declined about 5 per cent this year, after a 68 per cent surge in 2024. 12:53 'Overtaking on a bend': how China's EV industry charged ahead to dominate the global market 'Overtaking on a bend': how China's EV industry charged ahead to dominate the global market 'CATL has ambitions of expanding its worldwide footprint since it can chase higher profitability outside mainland China,' said Davis Zhang, a senior executive at Suzhou Hazardtex, a supplier of specialised batteries. 'With production and technological advantages over their global rivals, Chinese EV players are often welcome in overseas markets to localise their research and manufacturing expertise.'
