CATL, supplying major brands like Tesla and BMW, maintained its global lead in electric battery supply in 2024, with its latest developments including a second-generation Shenxing fast-charging battery, enhancing both driving range and efficiency. The company aims to expand its global footprint with a secondary listing in Hong Kong, reflecting its pivotal role in the EV market's growth.
CATL's Chief Technology Officer, Gao Huan, announced the innovation at the company's Tech Day in Shanghai, aiming to set a new standard for EV batteries and enhance travel convenience. This follows BYD's recent breakthrough, underscoring fierce competition in China's EV sector, driving rapid innovation at competitive prices.
The upgraded Shenxing, with a 500-mile full capacity, launched alongside CATL's new sodium-ion battery, Naxtra, promising greater affordability and safety compared to traditional lithium and lead-acid batteries.
Gao highlighted the Shenxing sodium-ion battery's compatibility with over 67 electric vehicle models, emphasising its performance in extreme conditions and rapid charging capabilities, even in cold weather. Meanwhile, Naxtra promises enhanced safety and stability, poised for mass production later this year.
Lithium-ion vs sodium-ion - what’s the difference?
With this announcement, it would be natural to question ‘Are sodium ion batteries better than lithium?’ - so, here are a few advantages and disadvantages: