CATL

CATL's battery swap brand EVOGO today put three battery swap stations into operation in Hefei and expects to have 20 such facilities in the city by the end of this year.

The Qilin battery's innovative design prevents thermal runaway of the pack and holds 13 percent more power than the 4680 battery, according to CATL's Wu Kai.

The pricing represents a 12 percent discount to CATL's closing price in Shenzhen on Wednesday and a premium of about 21 percent to the offering's floor price of RMB 339.67.

CATL and BYD's share of the China power battery market returned to their respective normal levels in May, after a Covid disruption in April narrowed their gap significantly.

There have been rumors recently that CATL may recognize a loss on its futures investment in its first-half earnings report, leading to very poor second-quarter results.

BMW plans to use round cells in models based on the Neue Klasse electric vehicle platform to be released in 2025, which is expected to bring down costs by 30 percent.

CATL will supply Solaris' buses with lithium iron phosphate batteries using CTP (cell to pack) technology.

"The trend is already happening," said Ni Jun, CATL's chief manufacturing officer.

CATL is now seeking more than RMB 510 million in damages from CALB, a 176 percent increase from the previous RMB 185 million.

The certification will be required for all power battery systems exported to ECE member states from September 1, 2023.