It’s been a long time coming but China’s battery giant CATL has revealed its latest breakthrough: an EV battery that can power a car for over 1,000 kilometers (about 620 miles) on a single charge. They’re calling it the next-generation “Qilin” battery, and it’s set to enter production next year. CATL is the world’s top EV battery maker and a key supplier to Tesla. They claim the new Qilin will have 13% more power than Tesla’s upcoming 4680 cell and will also have faster charging, improved safety, and longer life.
This is a big deal for the global EV rollout. The fact that EV charge infrastructure is still patchy outside of cities (and even inside many of them) means that range-per-charge needs to be higher before EVs can compete on more levels with gas powered vehicles. So, with an energy density reaching up to 255 watt-hours per kilogram, the new battery is a big step in that direction.
The company has also made a point of sharing its strong capital position. The day before the Qilin announcement, CATL shared that it had raised 45 billion yuan ($6.7 billion) through a private share placement. EU battery hopefuls take note – you’re going to need a lot of money and a lot of tech breakthroughs to start playing in this game.
Anthony Milewski
Chairman, Nickel 28 Capital