CATL, the Chinese electric vehicle battery giant, plans to manufacture its cutting-edge fast-charging battery, known as Shenxing, in Germany and Hungary.
During the IAA Mobility event, CATL's chief engineer, Gao Pengfei, unveiled that the European rollout of Shenxing batteries would commence once production starts in China, anticipated by the end of 2023.
While this announcement provides a broad timeline for European production, Gao Pengfei mentioned that specific offtake agreements with European customers have not been finalized as of yet.
Launched in August, Shenxing battery is made with a new type of LFP (lithium iron phosphate) cathode material that has a higher conductivity and a lower internal resistance. This allows the battery to be charged faster without overheating. The Shenxing battery also has a long driving range, with a single charge capable of delivering over 700 kilometers.
Founded in 2011, CATL is the world's largest manufacturer of LFP batteries and energy storage systems for electric vehicles. The company's customers include major global automakers including Tesla, Volkswagen, and BMW.
In order to better serve customers and diversify production, CATL has been expanding its presence in Europe in recent years.
Last December, the company began production of the series of batteries in Germany, where it built its first factory outside of China.
The battery giant is currently building a manufacturing facility in Hungary, due to be completed in 2025.