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    300750   CNE100003662

CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED

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China's CATL unveils sodium-ion battery - a first for a major car battery maker

07/29/2021 | 05:03am EDT
FILE PHOTO: A worker stands outside a factory of Contemporary Amperex Technology Ltd (CATL) in Ningde

BEIJING, July 29 (Reuters) - China's CATL on Thursday became the first major automotive battery maker to unveil a sodium-ion battery, saying it planned to set up a supply chain for the new technology in 2023.

As electric vehicles become increasingly popular, demand for key battery ingredients, particularly cobalt, has spiked. That has spurred car and battery makers to seek alternatives to the current three main technologies - nickel-cobalt-aluminium (NCA), nickel-cobalt-manganese (NCM) and lithium iron phosphate (LFP) batteries.

CATL, China's top car battery maker with a market value of almost $200 billion, also unveiled a battery pack that integrates sodium-ion and lithium-ion batteries.

The energy density of its new sodium-ion batteries is still lower than that of LFP batteries, Huang Qisen, deputy head of CATL's research centre told an online briefing. But he added that they perform well in cold-weather and fast-charging scenarios.

CATL, which competes with Japan's Panasonic Corp and South Korea's LG Chem, has over 5,000 researchers, its chairman, Zeng Yuqun, told the briefing.

It is also developing other technologies that integrate battery cells directly onto an electric vehicle's frame to extend its driving range.

Automakers that CATL supplies include Tesla Inc, Volkswagen AG and Geely.

(Reporting by Yilei Sun and Tony Munroe; Editing by Edwina Gibbs)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 1.42% 499.98 End-of-day quote.42.40%
LG CHEM, LTD. 0.13% 761000 End-of-day quote.-7.65%
PANASONIC CORPORATION 2.23% 1418.5 End-of-day quote.19.15%
TESLA, INC. 2.75% 774.39 Delayed Quote.6.80%
VOLKSWAGEN AG 0.04% 189.38 Delayed Quote.24.20%
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Financials
Sales 2021 102 B 15 835 M 15 835 M
Net income 2021 10 669 M 1 650 M 1 650 M
Net cash 2021 44 252 M 6 844 M 6 844 M
P/E ratio 2021 110x
Yield 2021 0,09%
Capitalization 1 164 B 180 B 180 B
EV / Sales 2021 10,9x
EV / Sales 2022 7,18x
Nbr of Employees 33 078
Free-Float 98,2%
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Number of Analysts 32
Last Close Price 499,98 CNY
Average target price 597,50 CNY
Spread / Average Target 19,5%
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Managers and Directors
Jia Zhou General Manager & Director
Shu Zheng Chief Financial Officer
Ying Ming Wu Chairman-Supervisory Board
Yu Qun Zeng Chairman
Zu Yun Xue Independent Director