The chairman of CATL, the world's largest battery maker, revealed in an interview that the company is working with Tesla to develop batteries with faster charging speeds, and said that CATL is supplying equipment to Tesla's U.S.-based factory. CATL is the world's leading power battery maker, known for its high-performance, high-safety battery products. Tesla, on the other hand, is a globally recognized electric vehicle manufacturer that has been committed to driving innovation in electric vehicle technology and the expansion of the electric vehicle market.
Due to geopolitics, policies of various countries and other factors, the growth of global electric vehicle sales has slowed down, and Tesla has cut down its car production. It is reported that Tesla will launch electric cars priced below $25,000 in order to defend its market share. The chairman of Ningde said that from the point of view of Tesla's move, there is always room for cost reduction, and the life cycle of Ningde era batteries is longer, so it has a lower actual cost. It is worth noting that, in addition to cooperation with Tesla, CATL will also actively carry out open innovation combining inward and outward orientation, for example, CATL adopts the LRS model with U.S. customers, i.e., the licensing, authorization and service model, to help OEMs and even battery manufacturers to quickly build battery factories. SNE Research statistics show that, in 2023, the use of power batteries in CATL amounted to 259.7GWh in 2023, an increase of 40.8% compared to 2022, with a market share as high as 36.8%, ranking first in the world for seven consecutive years; the market share of global energy storage battery shipments reaches 40%, and it has been ranked first in the world for three consecutive years. It is reported that the cooperation between CATL and Tesla is based on a common goal: to improve the performance of electric vehicles, reduce costs and promote the popularization of electric vehicles. CATL and Tesla are working together to develop batteries with faster charging speeds to meet Tesla's requirements for battery performance. This new type of battery will help Tesla electric vehicles achieve longer range and faster charging speeds, thus enhancing user experience. CATL supplies Tesla with high-performance lithium iron phosphate batteries, which are mainly used in Tesla's Model 3 and Model Y models. Tesla has reportedly booked a large number of batteries from CATL to support its future sales program. CATL is also providing Tesla with a license for its battery manufacturing technology and training for its engineers. This cooperation helps Tesla further enhance its battery technology and production capacity. To meet Tesla's battery demand, CATL is expanding its battery production capacity. The company has announced several battery expansion projects and has laid out several battery production bases around the world.
The partnership between CATL and Tesla is a strong alliance between two industry leaders. By jointly developing and supplying high-performance batteries, the two companies will not only enhance their respective competitiveness, but also promote the development of the entire electric vehicle industry. As the cooperation deepens, it is expected to bring more technological breakthroughs and market opportunities, contributing to the prosperity of the global electric vehicle market.
