CATL to Develop New Technology, Extending EV Range Beyond 800 Kilometers

(Source: Yahoo)

CATL (300750.SZ) announced recently that it is developing a new technology to install the battery directly on the chassis of an electric car, allowing more batteries to be loaded into the car. This will extend the total range of the vehicle to beyond 800 kilometers, Chinese tech media 36Kr reported.

The chairman of CATL, Zeng Yuqun, declared at the China Auto Blue-Book Forum (CABF) that this groundbreaking new technology will be launched before 2030, according to 36Kr.

36Kr reported, citing Zeng, that the technology first integrates the battery cell with the chassis, then with the motor, electronic control, and vehicle’s high voltage through innovative architecture. Furthermore, it optimizes power distribution, and reduces energy consumption through an intelligent power domain controller.

Zeng said in the forum that he believes that rising fuel prices are accelerating the globalization of electric transportation technologies. He added that by 2025, the first purchase cost of electric vehicles is expected to be on par with traditional gas-combustion vehicles, Chinese media cnBeta reported.

SEE ALSO: Schneider Electric, CATL Reach Strategic Cooperation to Promote Replacement of Lead-acid Batteries with Lithium Batteries

In addition to its internal technology development, CATL plans to enter the stock market as an investor.

On August 11, CATL announced that it would invest in high-quality listed companies on the upstream and downstream of the domestic and foreign industrial chains through securities investment. The total investment will not exceed 50% of the audited net assets at the end of 2019, that is, up to 19.967 billion yuan, of which the total overseas investment does not exceed $2.5 billion.

As of press time, CATL bucked the market and rose 0.57% to 197.1 yuan on Shenzhen Stock Exchange.