CATL

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.

The two sites CATL is considering are both near the Texas border, and the company is considering investing as much as $5 billion in the project, according to Bloomberg.

This follows reports that CATL plans to mass-produce LMFP battery, which its chairman mentioned in February as the M3P battery, within this year.

The battery's energy density is 15-20 percent higher than that of lithium iron phosphate batteries, but there is little difference in the material costs, according to local media.

When CATL announced the Qilin Battery last week, it said the battery could be charged to 80 percent in as little as 10 minutes. The latest battery technology it teased cuts that time even further.

CATL will invest in principle-guaranteed investment products with high security and liquidity to improve the efficiency of capital use and increase returns.