Latest news with #Shenxing
Business Insider
20-05-2025
- Automotive
- Business Insider
Tesla battery supplier CATL pops in its first day of Hong Kong trading
Key Tesla supplier CATL rose 13% in its Hong Kong trading debut on Tuesday morning. The world's largest battery maker filed to go public in Hong Kong earlier this year, primarily to fund its European expansion. CATL has been listed on the Shenzhen Stock Exchange since 2018. The initial public offering raised HK$35.7 billion, or $4.6 billion, according to a company filing. That size makes it one of the largest global listings of the year. The stock was listed at HK$263 per share. Companies pursue dual listings — where a company is traded on more than one exchange — because it gives them access to more capital and lets their shares trade for a longer time if the exchanges are in different time zones. Hong Kong listings are a popular option for Chinese companies because they allow international investors to buy stock. In a document filed with the Hong Kong exchange in February, CATL said that part of the money raised will be used to build a $7.6 billion battery plant in Hungary. The rest will be used for daily business. CATL has a partnership with Jeep and Fiat maker Stellantis in Spain. CATL is a major supplier to Tesla, selling lithium-iron phosphate batteries to its Shanghai factory. Last week, HSBC analysts led by Elaine Chen wrote in a note that CATL has a "dominating domestic position" in the EV battery market, enabled by "continuous products upgrade and innovation." They added that they see the company "unlock more volumes opportunities in Europe on its superior-than-peers affordability and leading lithium iron phosphate (LFP) technology." CATL is ramping up competition against Tesla and Chinese EV star BYD. Late last month, CATL unveiled a new battery it said can out-charge BYD and Tesla. It launched an updated version of its Shenxing battery, which it said allows electric vehicles to add 520 kilometers, or 323 miles, of range in just five minutes of charging. EV companies are trying to cut charge times to entice buyers who are wary of switching to electric. In January, the Department of Defense added CATL to its list of "Chinese military companies" operating in the United States. CATL denied it had any association with the Chinese military and said it was prepared to contest the decision with legal action if necessary.
Tatler Asia
19-05-2025
- Automotive
- Tatler Asia
Meet CATL, the world's largest EV battery maker, powering the electric vehicle boom
Cutting-edge battery technologies Above CATL's Shenxing Superfast Charging Battery can provide up to 800 km in range. (Photo: CATL) In the race for battery dominance, CATL keeps on top of its competitors with its continuous innovations. Just after BYD announced its 1 megawatt fast-charging technology, CATL introduced its second-generation Shenxing Superfast Charging battery in April 2025 with an 800 km range and a peak charging power of 1.3 megawatts. This means that with a compatible charger, the new CATL battery can have a range of 520 km in 5 minutes, compared to BYD's 400 km. The Shenxing battery will be used in more than 60 EV models this year. Above CATL's EV batteries are also widely used in light trucks, commercial vehicles and city buses. (Photo: CATL) Also announced last month at the CATL Tech Day in Shanghai is the Naxtra sodium-ion battery, the first mass-produced battery of its type. The battery uses sodium as its main component, which is more abundant and cheaper to produce compared to other battery types that rely on more expensive raw materials, leading to lower production costs. When Naxtra batteries arrive in the market at the end of the year, EVs will have around 500 km of range. The batteries also have the benefit of being safer and less prone to fire or explosion during a collision compared to traditional lithium-based batteries. To address range anxiety, CATL also developed the Freevoy Dual-Power battery. The battery's dual power architecture means that a single battery can have a main energy zone and an extended range energy zone. This gives the battery a maximum energy storage capacity that's good for a 1,500 km range, making it comparable to a hybrid vehicle. A trade ware between superpowers Because of geopolitical issues, not everything has been smooth sailing for CATL. In January 2025, the company was added to a United States Department of Defense (DoD) blacklist designating it as a 'Chinese Military Company'. CATL has released a statement that refutes this claim and said that it has 'never engaged in any military-related business or activities'. It also said that it would engage with the DoD to address the listing and take legal action if needed. Above CATL's Smart Micro-grid Energy Storage Solution is designed as a charging station for EVs. (Photo: CATL) CATL has also encountered legal and regulatory challenges with its push for overseas expansion in Europe and the US. In March 2025, the US Congress passed a bill that restricts the Department of Homeland Security from buying batteries from six Chinese-linked companies, including CATL, beginning October 2027. The bill intends to reduce dependency on batteries produced by countries deemed adversarial to the US. The bill is now under review by the US Senate. After its IPO, CATL will definitely have its hands full as it rises to the challenge of developing the latest battery technology for passenger and commercial EVs and other industrial applications such as wide-scale energy storage solutions. NOW READ BYD's megawatt charger promises lightning fast EV charging Mercedes just launched its first all-electric Mercedes-Maybach SUV in Malaysia Chinese EV brands to watch out for
Yahoo
19-05-2025
- Automotive
- Yahoo
China's heavy truck EV sales to surge by 2028
China's heavy truck sales are expected to experience a significant shift towards electric vehicles (EVs), with projections indicating that EVs could account for half of the market by 2028. This anticipated increase from just 10% in 2024 was reported by Reuters, citing CATL chairman. CATL has recently launched a 60 gigawatt-hour energy storage and EV battery production base in Shandong, marking the company's first such facility in northern China. The addition of a second and third phase over the next two years is set to create a substantial energy industry battery cluster in the region. The local government of Shandong has ambitious plans to develop a 100bn yuan ($14bn) lithium battery industry by the end of the year. This industry will encompass a wide range of components including electrode materials, electrolytes, battery cells, and assembly. In a significant move towards diversifying its product range, CATL unveiled a series of innovative battery products in April. The Super Tech Day event showcased the Freevoy dual-power battery, the Naxtra sodium-ion battery, and the second-generation Shenxing superfast charging battery. An integrated 24V start/stop Naxtra battery designed specifically for heavy-duty trucks was also introduced. As of May, CATL is preparing for a substantial Hong Kong listing, with expectations to raise at least HK$31.01bn. The company plans to offer 117.9 million shares, with the potential for the listing to increase to approximately $5.3bn if additional options are exercised. Following the announcement, CATL's shares in Shenzhen saw a 3.6% rise, outperforming the CSI300 index. "China's heavy truck EV sales to surge by 2028 – CATL" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Time of India
24-04-2025
- Automotive
- Time of India
500 KM range in 5-minutes! CATL's new 'Shenxing' EV battery explained
CATL's new 'Shenxing' EV battery explained. Chinese battery giant CATL has unveiled its upgraded 'Shenxing' battery that can add up to 520 km of driving range with just five minutes of charging, a pace that leaves current industry standards far behind. Announced on Monday during CATL's Tech Day in Shanghai, the next-gen Shenxing battery raises the bar in EV performance, promising faster charging, improved cold-weather performance, and a longer overall range. The company claims the battery can deliver up to 320 miles (around 515 km) on a full charge, outpacing BYD's latest tech, which offers 250 miles (about 400 km) of range. What makes Shenxing stand out isn't just its overall range but the speed with which it charges. CATL says the battery can go from 5% to 80% charge in just 15 minutes, even when temperatures drop to -10°C. In terms of pace, it delivers an incredible 2.6 km of range every second. This superfast battery tech is already making its way into the real world. CATL confirmed that more than 67 electric vehicle models will be equipped with the Shenxing battery by the end of the year, though the company did not reveal which models. Kia EV6 Review: More Range, comfort, tech | TOI Auto CATL currently supplies around a third of the world's EV batteries. It works with major global carmakers, including Tesla and General Motors, and leads the pack ahead of rivals like BYD and various South Korean and Japanese battery manufacturers. The company also shared a glimpse into its future tech — a dual-battery system that combines two different types of cells and is expected to hit the market between 2027 and 2028. This system is being developed with a massive 1500 km range in mind. While it doesn't charge as quickly as the Shenxing, it still supports a 30-80% top-up in 30 minutes. It also features a secondary battery designed to be more affordable and less reliant on graphite, with a different layout within the vehicle. Discover everything about the automotive world at Times of India .
Time of India
24-04-2025
- Automotive
- Time of India
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!
