CATL

CATL launched the Shenxing Battery in China on August 16, saying it can get 400 kilometers of range on a 10-minute charge.

CATL aims to see its core operating plants become carbon neutral by 2025 and its value chain carbon neutral by 2035.

The Shenxing Battery will be mass-produced by the end of 2023 and available in the first quarter of 2024, allowing vehicles to get up to 700 kilometers of range.

In the LFP battery market, BYD topped the list with a 43.18 percent share in July, up from 39.61 percent in June, with an installed base of 9.35 GWh.

CATL didn't mention what product it will be releasing, but hinted that it is related to faster speeds, possibly new fast-charging battery technology.

CATL's global share increased in January-June from January-May, while BYD's decreased slightly.

CATL's battery capacity utilization rate reached 95 percent in 2021, but fell to 60.50 percent in the first half of this year.

CATL's revenue from abroad in the first half of the year amounted to RMB 67.17 billion, contributing 35.49 percent of its total revenue.

CATL asked cathode material suppliers in early July to offer a 5 percent to 10 percent discount in settling lithium carbonate prices, according to local media.

CATL's battery installed base grew 59.6 percent year-on-year in January-May, while BYD's grew 107.8 percent year-on-year, according to SNE Research.