CATL, the world's largest EV battery maker and a major Tesla supplier, has launched a new fast charging lithium iron phosphate (LFP) battery capable of adding 248 miles of range after just 10 minutes of charge.

Dubbed Shenxing (an ancient Chinese phrase praising speed), the new battery, which is described by CATL as a "battery for everyone," will enable up to 434 miles of range on China's CLTC cycle, CATL announced during an online briefing on August 16.

The company claims Shenxing is the world's first LFP battery to support 4C super fast charging, which means it can charge at a current of 12A above the diffusion limiting current.

"We hope through continuous efforts to improve technology and reduce costs, Shenxing will become a standard product available for every electric vehicle," Gao Han, chief technology officer of CATL's E-Car Business, said during the presentation you can watch in the video embedded at the top of this page.

With the Shenxing battery, CATL claims it has achieved super fast charging, high energy density and high level of safety at the same time.

Gallery: CATL Shenxing fast-charging LFP battery announcement

CATL said the new fast-charging LFP battery incorporates in-house technology, including accelerated extraction of lithium ions, improved lithium-ion intercalation rate through fast ion ring technology, a multi-gradient layered electrode design, a new superconducting electrolyte formula, and an ultra thin and safer separator.

According to the company, the Shenxing LFP battery can achieve fast-charging over a wide temperature range, being able to charge from zero to 80 percent in 30 minutes even in temperatures as low as 14℉.

The new fast-charging LFP battery is expected to enter mass production in China by the end of the year. The first electric vehicle models equipped with Shenxing batteries will launch in the first quarter of 2024.

LFP batteries are cheaper than other lithium-ion batteries and more durable in many cases. However, they typically have lower energy density and their performance drops in the cold. CATL says these issues are a thing of the past with its new fast-charging battery, which "embodies the perfect balance of long range and easy refueling."

The company has faced challenges of weakening demand and pressure to cut costs from EV makers amid a price war and a slowdown in auto sales this year. CATL has been losing market share to BYD, which powers all its EVs with its own batteries. CATL's biggest client is Tesla.

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