CATL Receives US Commercial Vehicle Battery System Order

On May 5, foreign media reported that the American technology company WorkhorseGroup Inc. announced that it has reached a supply agreement with CSI, the North American distributor of CATL commercial vehicle battery systems, to supply battery systems for its electric transportation vehicles. It is understood that the CATL battery system supplied by CSI will power Workhorse's C-650 and C-1000 delivery vehicles from the second quarter of this year. Workhorse website shows that the battery capacity of these two vehicles is 70kWh, and the cruising range is 100 miles (160 kilometers). CSI recently completed the verification of the new 120kWh lithium iron phosphate battery system on Workhorse's C-1000 delivery platform, and will start mass production in May 2021. In January, Workhorse received a purchase order for 6,320 C-series all-electric delivery vehicles, models C-1000 and C-650. The first delivery will be in July 2021 and will continue until 2026. Workhorse's C-650 electric truck Workhorse is committed to designing and manufacturing electric trucks and airplanes with high-performance batteries, and has developed a cloud-based real-time telematics performance monitoring system that is fully integrated with the vehicle. 'The reason why we choose CSI/CATL battery systems is that they have reliable performance in the global commercial electric vehicles in the past ten years, and have high safety, light weight, and various commercial batteries from 40kWh to 600kWh and above. System.' said Duan Hughes, CEO of Workhorse. CSI uses CATL's more than 100 unique battery pack/battery combinations to optimize battery system solutions to match the drive system voltage and supply the required energy capacity. The CSI/CATLLFP battery system selected by Workhorse has an energy density of 160Wh/kg, which is equivalent to the current NMC battery pack. In addition, the service life of CATL's LFP battery pack is also twice as long as that of a typical NMC battery pack. CSI CEO David Mazaika said: 'CATL's LFP battery system can carry out 4000 cycles at 100% discharge depth at 1C, leading the industry. This will provide Workhorse vehicles with long battery life. At present, CATL battery systems have been used globally. More than 330,000 commercial vehicles are supplied with power, and the accumulated mileage reached 25.6 billion miles.' In addition to Workhorse, the American electric commercial vehicle company ElectricLastMile Solutions (ELMS) also said that it will purchase batteries from the CATL. ELMS plans to launch 4,100 UD-1 trucks by the end of 2021, and the output will rise to 83,000 by 2025. As of mid-March, ELMS has received pre-orders for 45,000 UD-1s. According to ELMS, the Urban Delivery truck that is expected to be put into production at the end of 2021 uses a battery supplied by CATL, which has passed verification tests and has been used in other vehicles. In the field of overseas commercial vehicles, CATL has also signed battery cooperation agreements with international commercial vehicle companies such as Dutch VDLBus u0026 Coach, Daimler Truck and Bus, Volkswagen (Latin America) Truck and Bus, German Trailer, and German Quantron AG. In addition, on the one hand, the development of overseas new energy vehicles is on an upward path, and the gap of power lithium batteries is increasing; on the other hand, the global energy storage market continues to improve, which is also driving overseas exports of lithium-ion batteries. Benefiting from this, CATL’s overseas revenue in 2020 is 7.9 billion yuan, a year-on-year increase of 295.3%, and its share of revenue has increased from 4% in 2019 to 16%. According to Ningde Customs statistics, in the first quarter, Ningde Times declared the export value of power lithium batteries at Ningde Customs to be 2.517 billion yuan, a year-on-year increase of 28.7 times. Based on the accelerated mass production of overseas commercial vehicle orders in the future, CATL's overseas power lithium battery business will also usher in a continuous rise.