• Mon. May 20th, 2024

Tesla and CATL Join Forces to Revolutionize Fast-Charging EV Battery Technology

BySamantha Nguyen

Mar 25, 2024
Collaboration between Tesla and CATL Leads to Breakthrough in Fast-Charging Battery Technology

Tesla and Chinese battery manufacturer CATL are collaborating on the development of new battery technologies that could result in faster-charging electric vehicle batteries. According to a recent interview with Bloomberg, the two companies are working together on this project. CATL, the largest battery manufacturer in the world, has established a significant supply agreement with Tesla and serves as a battery supplier to major automakers such as BMW and Mercedes-Benz Group AG.

However, due to U.S.-China trade and technology conflicts and restrictions on Chinese technology used in American-made products, CATL is unable to sell its batteries directly in the United States. Instead, the company is operating under licensing, royalty, and services (LRS) agreements with partners to license battery technology for a fee. Ford, one of Detroit’s Big Three automakers, announced an agreement with CATL last year to manufacture battery cells using CATL’s lithium iron phosphate (LFP) battery cell knowledge and services. CATL is currently in talks with about 20 U.S. and European automakers to potentially reach similar licensing agreements.

In addition to working with CATL, Tesla is focused on maintaining its market share in the growing global EV battery market and producing a vehicle priced below $25,000. The founder of CATL revealed in the interview that there is potential for cost reduction depending on the target price for the $25,000 car. He also confirmed reports that Tesla plans to open a small battery-manufacturing plant in Nevada using equipment from CATL, with minimal involvement from the Chinese company. This collaboration between CATL and Tesla aims to develop new electrochemical technology for faster-charging batteries.

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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