EV battery prices to drop, have greater distance, quicker charging times. Meaning EV makers can drop their prices again
CATL, the worlds' biggest battery producer and China's biggest battery maker (37% global market share) is scaling up production and has found a way to charge a battery in 10 minutes and is working on reducing charging times further.
- CATL is working on faster charging batteries for Tesla $Tesla(TSLA.US$ as Elon Musk looks to roll out new EVs for under $25,000.
-Ford $Ford Motor(F.US$ and CATL's Michigan plant is expected to be operating by 2026 end, which further cements CATL's dominance. It'll also show its technology-licensing business model seems viable in working in US
- FYI: CATL works with the world's biggest EV makers.11.6% of revenue is from Tesla$TSLA, Geely (4.3%) (Geely $GEELY AUTO(00175.HK$ sells China's 3rd most popular EV Zeekr, and Volvo and Polster). Nio $NIO Inc(NIO.US$ accounts for 4.21% of CATL revenue, BMW $BAYER MOTOREN WERK(BMWYY.US$ 3.2%, VW $VOLKSWAGEN A G(VWAGY.US$ 2.7%, Nissan $NISSAN MOTOR CO(NSANF.US$ 2.1%, Honda $Honda Motor(HMC.US$ , 1.5%, Mercedes1.1%, Great Wall 0.7%, Hyundai 0.7%. CATL also makes batteries for other companies like Dell, and TDK.
-Saving costs for CATL and car makers. CATL continues to produce sodium-ion batteries, that have potential to cost less for EV makers than lithium-ion cells. They perform “way better” in colder climates (said CATL's president and chair) but he says its difficult to say how quickly they’ll catch on.
- Boosting power and range? CATL's working on mixing and matching sodium-ion battery cells with lithium-ion ones so they have greater range and power. CATL has developed a 1,000-kilometer-range battery and is working on condensed-state cells that are powerful enough for planes to use.
-CATL has been benefiting from lower inputs prices. Spot #lithium carbonate prices in China — are still down 84% from their peak from November 2022. And Nickel’s price is down 60% from its 2022 peak.
- CATL's competitors? CATL has maintained its lead as in the world as it develops cheap and durable cells using lithium iron phosphate (LFP), as the cathode material. Lithium-ion chemistries offer superior energy density, enabling drivers to travel further between charges. CATL has half of the market in China, and is challenging to edge out South Korea's LG Energy.
-CATL is exploring the idea of listing in Hong Kong, which will make its shares more accessible.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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JC7577 : Thanks for the update.
CyberMongrel : It's that dip now.
ArtieZiffsCat : EV market
gbsurfer ArtieZiffsCat: feels like the battery market is also something to watch
104166358 : Sales not good
What is the fuss?
New technology for auto better than EV
Kakakala12 : Does it matter?