China In-Focus — CATL to develop new battery materials; July industrial profits down

RIYADH: China’s CATL is working on new battery materials that can improve energy density by between 10 percent and 20 percent, compared with iron phosphate batteries, the company’s chairman said, as the battery giant scrambles to retain its top position amid competition.

The new material technology known as M3P can enable an electric vehicle to run 700 km per charge combined with CATL’s next generation battery pack technology, Zeng Yuqun said at the World New Energy Vehicle Congress in Beijing on Saturday.