CATL's Shenxing battery could be a game-changer

August 16th may go down in history as the game-changer day as China's battery behemoth, CATL, pulled the curtain back on their newest innovation, the Shenxing. This isn't some tiny trinket in the vast world of battery tech. The Shenxing, with its full title - the "Shenxing Superfast Charging Battery," promises a whopping 249 miles range boost in just 10 minutes. Is it too early to call it revolutionary?

This new LFP battery, expected to hit mass production lanes by the end of 2023 and be market-ready by early 2024, is designed with a graphite anode, a fresh electrolyte concoction, and a separator that sounds like it's been working out - slim and super safe. In a move that should soothe electric car enthusiasts, CATL says the Shenxing boasts reduced heat generation, supplemented by a brand-new battery management system (BMS).

As for the name of the new battery tech - the term "Shenxing" translates to "Divine Speed" in Chinese. Whether it lives up to its heavenly promise remains to be seen.

Gao Han, the head honcho of CATL’s EV unit, couldn't contain his excitement at the unveiling conference. According to him, with the aid of advanced technology and (hopefully) trimmed costs, Shenxing might just become the go-to battery for all EVs. That's a tall order!

But there's a little ice-cold snag. Most LFP batteries have a slight grudge against winter, making them less efficient in colder climes. CATL, however, assures its audience that Shenxing in temperatures as low as -10°C, gets juiced up to 80% in 30 minutes. Alright, Shenxing, you have our attention. For those of you in the cold north though - you may wanna skip this one.

A glance at CATL's track record shows they've got a flair for churning out new battery types like they're going out of fashion. Last year, we got the Qilin battery, which powered Geely's Zeekr 001 SUV to a staggering 620 miles range. And let's not forget about their "Condensed" battery, which, despite its rather laid-back name, packs a 500 Wh/kg energy density meant for the skies – literally, for airplanes.

Recently, CATL revealed they're dabbling in sodium-ion batteries. These batteries, though not as energy-dense as their LFP counterparts, shine in colder temperatures and give lithium a pass. Come the last quarter of 2024, Chery’s new iCar brand plans to roll out vehicles powered by these sodium-ion marvels. Sodium-ion batteries might just be the unsung heroes for budget EVs, given their cost-effectiveness.

With CATL reigning as the top battery maker globally for six straight years, based on battery installation capacity, it's evident they aren’t newcomers to the scene. But it's also apparent that they're feeling the heat from their main rival, BYD. While CATL has a dominant position in upper-market NMC batteries, they're still playing catch-up in the LFP market.

Just to sprinkle some numbers in: BYD boasts a 43% market share, thanks to their 9 GWh of power in LFP batteries in China. CATL, trailing behind, has a 31% share from their 6.9 GWh of energy in LFP. It's pretty clear that the Shenxing is CATL's sassy retort to BYD's growing sway in the LFP realm.

As the battery competition heats up, CATL's Shenxing is, no doubt, a formidable contender - at least on paper. Whether it's the battery that'll electrify the EV market or just another blip on the radar, only time will tell. Until then, keep those charging cables handy!

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