SHANGHAI -- Contemporary Amperex Technology Co. will start mass production next year of its latest EV battery, with greater efficiency that lets electric vehicles drive longer distances on each charge, the company said on Thursday.
The world's biggest battery maker is scrambling to retain its top position against competition from rivals such as BYD, which will soon start supplying batteries to Tesla.
The new battery, called Qilin, will boost volume utilization rates to 72 percent, the world's highest, versus 50 percent for its first-generation battery launched in 2019, the company said, and increase the battery system's energy density to 255 Wh/kg.
The battery has a range of over 1,000 kilometers (620 miles) on a single charge and is 13 percent more powerful than one planned by Tesla Inc., a major customer. The battery also charges faster than existing cells, and is safer and more durable, CATL said.