Bank of America Securities issued a research report stating that CATL held a 2026 Technology Day on the 21st of this month, showcasing a series of breakthrough battery technologies. These include ultra-fast charging batteries, condensed-state batteries, and sodium-ion batteries. The report indicates that CATL leads its peers in multiple new technologies, particularly in sodium-ion batteries, with mass production expected to begin in the fourth quarter of 2026. The firm maintains its "Buy" rating for both CATL's H-shares and its A-shares, with a target price of HK$740 for the H-shares and 606 yuan for the A-shares.
CATL aims to build 4,000 charging and battery swap stations by the end of 2026 and, in partnership with others, increase this number to 100,000 by the end of 2028. The report highlights that the third-generation Shenxing ultra-fast charging battery achieves an effective charging rate of 10C, peaking at 15C. It can charge from 10% to 35% in 60 seconds and, in low-temperature environments of -30 degrees Celsius, charge from 20% to 98% in 9 minutes. The Kirin III battery reaches an energy density of 280Wh/kg, reducing weight by 255 kilograms compared to LFP batteries of the same capacity, which helps improve vehicle acceleration and braking performance. The Kirin condensed-state battery achieves an energy density of 350Wh/kg, enabling a range of up to 1,500 kilometers for flagship sedans. The second-generation Freevoy extended-range battery has an energy density of 230Wh/kg, supports a 10C charging rate, and offers a pure electric range of 500 to 600 kilometers.
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