CATL

Power crunches are occurring in parts of China amid persistent hot weather, rekindling memories of a similar situation last September.

Nio's battery swap station plant in Hungary will be operational in September, about two hours from CATL's planned battery production base in the country.

CATL continued to rank first in July with a 47.19 percent share, but down from 49.6 percent in June. BYD's share was 25.23 percent, its second highest on record.

CATL has supplied Yutong with a cumulative total of 19 GWh of power batteries used in nearly 150,000 new energy buses.

LG Energy Solution ranked second with a 14.4 percent share and BYD ranked third with an 11.8 percent share, according to SNE Research.

CATL co-founder and vice chairman Huang Shilin resigns for personal career reasons and will explore opportunities in areas including energy storage.

The M3P battery is based on a new material system developed by CATL and has a higher energy density than LFP batteries and a lower cost than ternary batteries.

CATL will work with Shandong to promote the development of the local new energy battery and materials, battery swap and energy storage industries, as well as the electrification of ships.

CATL will provide LFP battery packs for the Ford Mustang Mach-E sold in North America starting next year and for the F-150 Lightning starting in 2024.

In February, CATL filed a lawsuit against Svolt Energy after nine former CATL employees joined two of the latter's affiliated companies.