Citi: CATL's Product Performance Leads Industry, Set to Boost Market Share

Stock News04-23 09:41

According to a research report released by Citi, CATL held a Technology Day on the 21st, where it unveiled its third-generation Shenxing ultra-fast charging battery. This battery boasts an average charging rate of 10C and a peak rate of up to 15C. The third-generation Qilin battery weighs 625kg and achieves an energy density of 280Wh/kg. Meanwhile, the second-generation Xiaoyao super hybrid battery offers a pure electric range of 500km for its lithium iron phosphate (LFP) version and 600km for its nickel-cobalt-manganese (NCM) version. The company confirmed that its sodium-ion battery, Naxtra, will enter mass production in the fourth quarter of this year. Citi believes the event demonstrated that CATL has once again raised the bar for the electric vehicle battery industry, with its product platforms leading in performance metrics. The bank expects this will help the company increase its market share.

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