Chinese battery giant CATL plans to start this year the mass production and delivery of batteries based on a new materials technology, M3P, which will perform better and cost less than nickel and cobalt-based ones, its chairman said.
, is the world's biggest battery maker accounting for more than a third of the sales of batteries for electric vehicles worldwide.earlier this month he was both "pleased and concerned" over its rise.
Since last year, a number of CATL's customers have complained about its market position, with some opting for alternative suppliers or choosing to develop their own batteries, Reuters has reported. Asked on Friday how these rival batteries could affect CATL's market share, Zeng said that he expected them to have more impact on second-tier and third-tier battery-makers and that CATL would remain the primary battery supplier.
He said new energy vehicle sales in China have been recently affected by inventory clearance efforts by combustion engine car makers ahead of a change in emissions rules, but he remained confident about the overall EV sales outlook. More than 40 brands have slashed vehicle prices in China in recent months, deepening a price war ignited by Tesla's first salvo in January.Our Standards:
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