HomeTop StoriesVolkswagen-backed Chinese EV battery maker Gotion takes on rival CATL with super-fast...

Volkswagen-backed Chinese EV battery maker Gotion takes on rival CATL with super-fast charging LFP product

Gotion High-Tech, a Chinese battery maker backed by Volkswagen, said its new fast-charging battery is ready for commercial production, a product that gives it an edge over rivals like CATL, the world’s largest producer of electric vehicle batteries.

The fourth largest EV battery manufacturer in mainland China and the eighth largest in the world said the G-Current lithium-ion phosphate (LFP) battery offers a driving range of nearly 500 km in less than 10 minutes of charging.

The LFP battery can power both pure electric and plug-in hybrids and is aimed at sedans and SUVs priced between 300,000 yuan (US$41,530) and 400,000 yuan, said Cao Yong, vice president of Gotion’s Technical Research and Development Institute, Friday.

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“It was developed to meet market demand,” Cao said. “The battery will largely address the issues [driving range] pain points for consumers.”

Cao Yong, vice president of Gotion’s Technical Research and Development Institute, will introduce the G-Current LFP battery at a conference in Hefei, Anhui province on Friday. Photo: Daniel Ren alt=Cao Yong, vice president of Gotion Technical Research and Development Institute, introduces the G-Current LFP battery at a conference in Hefei, Anhui province on Friday. Photo: Daniel Ren>

Batteries account for almost 40 percent of the cost of an electric car. China is the world’s largest EV market, where four in ten new cars are powered by batteries and the pace of expansion of charging facilities is increasing. Electric vehicle sales on the continent account for 60 percent of the global total.

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Gotion’s 75 kilowatt-hour (KWh) G-Current battery gives a range of 300 miles (480 km) in 9.8 minutes of charging, while it takes 25 minutes to fully charge the battery, giving a car a range of 370 miles (600 km).

Cao said the company envisions large-scale delivery of the battery to EV assemblers from early 2025, when the new production facilities are completed.

Gotion, based in Hefei, the capital of eastern China’s Anhui province, supplied 3.4 gigawatt hours (GWh) of batteries to EV manufacturers in the first quarter of 2024, up 22.1 percent year-on-year. It had a 2.1 percent share of the global market in the three months to March, unchanged from a year earlier.

Technically, 1 GWh of batteries can power approximately 13,000 electric cars, each with a driving range of 500 km.

On the continent, Gotion competes with giants such as Contemporary Amperex Technology (CATL), the world’s largest manufacturer, which had a 37.9 percent share of the global market in the first quarter.

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On May 10, Chinese Premier Li Qiang told Gotion’s founder and chairman Li Zhen during his tour of Anhui that he would encourage the company to consolidate ties with Volkswagen to accelerate its technological capabilities and product upgrades.

In August 2023, CATL unveiled its Shenxing supercharger battery, which gives an EV a range of 400 km with 10 minutes of charging. The battery can be fully charged in just 15 minutes.

“The competition between Chinese battery makers like CATL and Gotion, with new products, should convince drivers that range anxiety will no longer be an issue if they opt for electric cars,” said Davis Zhang, senior executive at Suzhou Hazardtex, a supplier of specialized batteries. vehicle batteries.

“The companies need to improve production efficiency to make the batteries more affordable.”

Gotion, which has 14 factories in China and six abroad, also unveiled Gemstone, a solid-state battery, on Friday. However, the company did not say when it planned to start mass production of the new product.

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The battery has an energy density of 350 watt hours per kilogram, 50 percent higher than an average LFP counterpart.

Solid state batteries are considered a better option for electric vehicles than batteries based on liquid electrolytes – including sodium ion batteries and today’s lithium-ion and lithium polymer batteries – because they are safer, more reliable and more efficient.

The technology promises a longer driving range, but requires higher development and production costs.

This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice covering China and Asia for more than a century. For more SCMP stories, explore the SCMP app or visit the SCMP Facebook page Tweet Pages. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved.

Copyright (c) 2024. South China Morning Post Publishers Ltd. All rights reserved.

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