CATL and Tesla to develop new batteries: 1.6 million kilometers of battery life is expected to be the first in my country

American electric car manufacturer Tesla plans to launch a low-cost, long-life battery later this year or early next year, or it will be applied first in our domestic Model 3 models. The new battery will be jointly developed by Tesla and CATL. On May 15, Reuters quoted people familiar with the matter as saying that the new battery will be jointly developed by Tesla and CATL (300750), and will also use the relevant technology of the battery expert team recruited by Musk. Its design goal is to reach 1 million miles (160 kilometers) in lifetime, and make the cost of electric vehicles equal to or lower than that of fuel vehicles. People familiar with the matter said that Tesla’s new battery will be technologically innovative, such as the use of low-cobalt or cobalt-free battery chemistry, and the use of new chemical additives, materials and coatings to reduce internal stress and enable storage of the battery. More energy, and have a longer life. Eventually, Tesla will launch an improved version of the battery with higher energy density and storage capacity, and lower cost, in other markets including North America. CATL is a leading domestic power lithium-ion battery company. In February, the company announced that it had signed an agreement with Tesla and Tesla (Shanghai) Co., Ltd. to supply lithium-ion power lithium-ion battery products to Tesla from the second half of the year. Another industry source said that Tesla hopes to use the Ningde era lithium iron phosphate battery, which does not contain the expensive metal cobalt and is relatively cheap. In addition, CATL has also developed a simpler and lower-cost battery packaging method called CTP (CelltoPack) technology. As the battery module assembly process is omitted, the volume utilization rate, production efficiency, and energy density of CTP battery packs have been improved. Tesla is expected to use this technology to reduce battery weight and cost. According to the aforementioned sources, CATL also plans to supply Tesla with an improved version of long-life nickel-manganese-cobalt battery next year, the cathode of which contains 50% nickel and 20% cobalt. Currently, Tesla is cooperating with Panasonic to produce nickel-cobalt-aluminum batteries at the Super Factory in Nevada, USA, and is purchasing nickel-manganese-cobalt batteries from LG Chem. Regarding the above news, Tesla and Panasonic did not comment. Musk said in January that Tesla will focus on increasing battery production capacity and reducing battery production costs. 'We must ensure that battery production increases significantly and continue to reduce the cost of batteries per kilowatt-hour-this is very basic and very difficult. We must expand the scale of battery production to crazy levels that people can't even imagine.' He Tesla’s latest strategy and technology in the battery field will be announced on Tesla’s “Battery Day” in mid-May. In terms of cooperation with Tesla, Ningde Times Chairman Zeng Yuqun stated at the 2019 annual results online briefing on May 11 that the company has corresponding products in lithium iron phosphate and ternary, and the supply is not limited to lithium iron phosphate or Three yuan, the specific products supplied depend on market demand. Ningde Times Deputy General Manager and Secretary of the Board of Directors Jiang Li also revealed that the company's cooperation with Tesla is not limited to China. Regarding the news that Tesla will produce its own batteries, Zeng Yuqun responded at the meeting, “Musk told me that Tesla wants to make batteries by itself. As far as I know, their technical route will not have an impact on us, and we are working together. Discuss how to make batteries better to serve the new energy business.' As of press time, Ningde Times reported 143 yuan per share, up 5.46%.