SHANGHAI -- Chinese electric vehicle startups Li Auto and Hozon New Energy Automobile have emerged as the first customers of a new long-range battery that Contemporary Amperex Technology Co. unveiled Thursday and plans to start mass producing in 2023.
The battery has a range of more than 1,000 kilometers (620 miles) on a single charge and is 13 percent more powerful than one planned by Tesla, a major customer. The battery also charges faster than existing cells, and is safer and more durable, CATL said.
The world's biggest battery maker is scrambling to retain its top position against competition from rivals such as BYD, which will soon start supplying batteries to Tesla.
The new battery, called Qilin, will boost volume utilization rates to 72 percent, the world's highest, versus 50 percent for its first-generation battery launched in 2019, the company said, and increase the battery system's energy density to 255 Wh/kg.