Tesla’s battery supplier Contemporary Amperex Technology Limited (CATL) recently discussed their plans to increase the energy density inside their batteries. Contemporary Amperex Technology Co Ltd. is a global energy technology company and the leading EV battery manufacturer in China. Chairman Zeng Yuqun recently said that the company is working with new battery materials that’ll improve energy density by around 10-20 percent and deliver more electric range. Yuqun said that next-gen M3P battery will allow an electric car to travel 430 miles (700 km) per charge. CATL aims to increase its lead over its rivals like LG Energy Solution and BYD.
Furthermore, CATL wants to lower the cost of batteries, thanks to new materials. Yuqun said that costs will be lower as compared to both cobalt- and nickel-based batteries. CATL provides batteries to a wide range of automakers, from Volkswagen, BMW to Ford. CATL announced last week a new client: Geely Automobile Holdings. The Chinese automaker owns brands like Volvo, Polestar and Lotus.
Recently, rumors floated around in China that Tesla Giga Shanghai would launch new Model 3 and Model Y variants with CATL’s M3P batteries. Currently, Tesla China shows electric ranges between 345 and 419 miles, but those figures are used on the CLTC standard which is far more generous than the WLTP figures. In general, the M3P is designed for vehicles with a driving range of up to about 700 km (435 miles) CLTC.