CATL has unveiled a groundbreaking achievement with the launch of the Shenxing superfast charging battery, ushering in a new era of rapid charging for electric vehicles. In an official announcement by CATL on August 16, 2023, the company introduced the world’s pioneering 4C superfast charging battery. Distinguished by its utilization of lithium iron phosphate material and successful implementation of large-scale production, the Shenxing battery sets an impressive milestone. The Shenxing battery represents a monumental leap, as it empowers electric vehicles with an exceptional 400 km driving range achievable within a mere 10-minute charge. This extraordinary capability is further complemented by an extensive driving range, superfast charging capabilities across various temperature ranges, and elevated safety features. These achievements are brought to life through innovative structural advancements and intelligent algorithms. Beyond these feats, the Shenxing battery showcases its prowess by accomplishing an impressive 700 km driving range on a single full charge. This remarkable accomplishment is achieved through a combination of inventive structural design, intelligent algorithms, and other innovative methods.
CATL’s agile transformation from technological breakthroughs to tangible products and, ultimately, to market-ready commodities is propelling the rapid production of the Shenxing battery. As anticipated, mass production of the Shenxing battery is slated to be realized by the conclusion of 2023. This monumental achievement paves the way for electric vehicles equipped with the Shenxing superfast charging battery to make their market debut in the first quarter of 2024.
The recent enforcement of the EU Batteries Regulation has triggered a significant transformation in the battery industry landscape. On August 17th, 2023, following a 20-day period of public awareness, the new Batteries Regulation was officially set in motion. Its implications extend not only to the European market but also institute fresh environmentally conscious prerequisites for battery industry exports to the EU region.
Under the provisions of this novel regulation, the sale of power batteries and industrial batteries within the European domain mandates the inclusion of carbon footprint declarations, accompanying labels, and digital battery passports. Concurrently, the regulation introduces compulsory minimum thresholds for recycled content in pivotal battery raw materials. These initial thresholds have been established at 16% for cobalt, 85% for lead, 6% for lithium, and 6% for nickel during the first eight years of the regulation's implementation. Subsequently, over a span of thirteen years, these percentages are set to elevate to 16% for cobalt, 85% for lead, 12% for lithium, and 15% for nickel.
The production and sales of new energy vehicles are experiencing robust growth, with an accelerated pace in exports. According to the CAAM, July 2023 witnessed the production of 805,000 new energy vehicles, marking a 2.8% month-on-month increase and an impressive 30.6% year-on-year surge. Concurrently, the total sales volume reached 780,000 units, demonstrating a modest 3.2% month-on-month decrease but a substantial 31.6% year-on-year rise.
From January to July of 2023, the production of new energy vehicles reached a commendable 4,591,000 units, indicating a remarkable 40% year-on-year ascent. Simultaneously, the sales volume soared to 4,526,000 units, showcasing an impressive 41.7% year-on-year surge. As for exports, the data highlights a burgeoning trend. In July 2023, the export of new energy vehicles achieved a notable milestone, with a monthly growth of 29.5% and a remarkable 87% year-on-year expansion. Cumulatively, during the January to July period of 2023, the export figures were even more striking, totaling 636,000 units and showcasing a remarkable 1.5-fold increase compared to the previous year.
The aforementioned statistics underscore China’s rapid acceleration in the export of new energy vehicles.
During the month of July, prices for battery-grade lithium carbonate experienced a decline, while the costs of cathode materials, specifically lithium iron phosphate, registered a minor reduction as well. The battery-grade lithium carbonate prices in July underwent a notable drop, resulting in a month-on-month decrease of 9.1%. During this same period, the output of lithium iron phosphate cathode materials reached approximately 140,000 tons. It can be seen that the downstream production of lithium iron phosphate power battery fell slightly.