CATL

It is a mystery who the supplier of the solid-state battery for Nio's first sedan ET7 is.

CATL, China's largest automotive lithium-ion battery maker, may be the supplier of Nio's solid-state battery, China Securities Journal said Monday, citing an unnamed source.

An explosion at a battery recycling company under CATL, China's largest automotive lithium-ion battery maker, has slightly dampened Chinese investors' enthusiasm for the new energy sector.

Nio has contracted a production line of lithium iron phosphate batteries from CATL, and the new cells are being tested and prepared.

LG Chem's installed capacity was 26.4 GWh, up 1.4 times year-on-year, ranking second in the world. Panasonic's installed capacity was 22.3GWh, down 8.5% year-on-year, ranking third.

CATL is the second-largest shareholder with 26% equity.

The battery's energy density will be 30-40 percent higher than the current industry-leading level and can achieve a maximum range of about 1,000km and zero decay for 200,000 km.

In its November 13 issue, the Economic Information Daily, a subsidiary of China's state-owned Xinhua News Agency, devoted a rare two-part article to the same topic, praising the Nio-led battery swap model as the trend of the future.

LG Chem was the world's top seller of electric vehicle (EV) batteries from January to August and CATL, China's largest automotive lithium-ion battery maker, was second, a South Korean market research firm said Monday.

Zeng Yuqun, Chairman of CATL, China's largest automotive lithium-ion battery maker, said Tuesday at the 2020 World New Energy Vehicle Conference that the company has developed a battery product that does not ignite but only emits smoke, and will be mass-produced in some models by the end of the year.