Chinese battery giant Contemporary Amperex Technology Co., Limited (CATL) released the third generation of its cell-to-pack (CTP) technology on Thursday. NETA Auto, an electric vehicle maker based in China, told Shanghai Securities News on Thursday that it is negotiating with CATL to apply the CTP 3.0 battery to its products.
A CATL spokesperson also confirmed to Securities Daily that Li Auto and NETA Auto have confirmed their cooperative relationship with the battery firm and will launch products equipped with CTP 3.0. “There are more partners, which cannot be disclosed in advance at present,” a person familiar with the matter said.
NETA Auto delivered 11,009 new cars in May, up 144% year-on-year. From January to May 2022, a total of 49,974 units were delivered, up 213% year-on-year.
CATL has signed a strategic agreement with NETA Auto. As part of the deal, CATL will participate in the automotive firm’s D2 financing round and will start cooperation in the fields of technology research and development, as well as offer a supply chain guarantees.
By placing liquid cooling functional parts between adjacent cells, CATL’s trailblazing large-surface cell cooling technology supports a hot start in five minutes and fast charging in 10 minutes. The CTP 3.0 battery can increase energy density to 255Wh/kg for ternary battery systems, and 160Wh/kg for LFP battery systems. With the same chemical system and the same pack size, it can deliver 13% more power than the 4680 battery, accomplishing an all-round improvement in range, fast-charging, safety, service life, efficiency and low-temperature performance. The CTP 3.0 batteries are expected to be mass-produced and enter the market in 2023.