BEIJING (Reuters) -Chinese language battery big CATL on Thursday launched its first battery product targeted on extended-range hybrids at a time when this class of electrified vehicles is seeing the quickest progress in gross sales amongst all segments.
The battery, referred to as Freevoy, is the world’s first hybrid battery with a spread of over 400 km (249 miles), in accordance with CATL’s Gao Huan, chief expertise officer of its electrical car enterprise in China.
Gao instructed a press convention in Beijing that Freevoy was being utilized by varied Chinese language EV manufacturers, together with Li Auto, and can be put in in fashions made by trade giants, corresponding to Geely and Chery.
Practically 30 extended-range hybrid fashions can be geared up with the CATL Freevoy battery, Gao mentioned.
An extended-range hybrid, or EREV, has a bigger battery pack than different hybrid vehicles and runs on electrical energy solely, with its gasoline engine serving as an influence financial institution to recharge the batteries once they run low.
Extra Chinese language shoppers favour EREVs as they provide longer driving vary than EVs and might price lower than gasoline vehicles.
Gross sales of EREVs have greater than doubled within the first 9 months this yr in comparison with the identical interval in 2023, with greater than 10 new fashions launched by Chinese language manufacturers together with Stellantis-backed Leapmotor and Li Auto this yr.
The robust demand has prompted CATL to develop the battery for automakers in China and probably abroad.
CATL has additionally pioneered packing sodium-ion batteries along with lithium-ion batteries within the Freevoy battery, which might assure discharging in excessive chilly, Gao mentioned.
The battery maker has been weathering the affect of an ongoing worth struggle within the EV sector, with a rise in third-quarter revenue progress.
Thanks to a price benefit and a diversified shopper base, CATL strengthened its lead within the Chinese language market, boosting its share by 3.1 share factors within the first 9 months of the yr, in accordance with knowledge from the China Automotive Battery Innovation Alliance.
By comparability, the second-ranked BYD, which provides almost all batteries to its personal EVs, and third positioned CALB noticed their share shrinking by 4.28 share factors and 1.98 share factors, respectively.
(Reporting by Eduardo Baptista in Beijing and Zhang Yan in Shanghai; Modifying by Christian Schmollinger and Tomasz Janowski)
