SHANGHAI: Chinese battery giant CATL plans to start this year the mass production and delivery of batteries based on a new materials technology, M3P, which will perform better and cost less than nickel and cobalt-based ones, its chairman said.
CATL disclosed in August last year that it was working on M3P technology, which can enable an electric vehicle to run 700km per charge when combined with CATL's next generation of battery-pack technology. CATL, whose clients include Tesla, Volkswagen, BMW and Ford, is the world's biggest battery maker accounting for more than a third of the sales of batteries for electric vehicles worldwide.
Since last year, a number of CATL's customers have complained about its market position, with some opting for alternative suppliers or choosing to develop their own batteries, Reuters has reported.