China’s power battery giant CATL said it’s developing M3P batteries
STOCKS
China’s power battery giant CATL said it’s developing M3P batteries
STOCKS

China’s power battery giant CATL said it’s developing M3P batteries

 

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Chinese electric vehicle battery giant CATL said that it’s developing the M3P battery, which is different from the lithium manganese iron phosphate (LMFP) battery and the details of the battery are subject to the company’s announcement.

The statement was in response to a report saying that CATL, Sunwoda and Eve Energy’s LMFP batteries have passed interim tests in the first half of this year and are now sending samples to car companies for testing, according to a report by Chinese tech news outlet LatePost on Tuesday.

CATL plans to mass produce the battery this year, and it is the “M3P battery” the company’s chairman Robin Zeng mentioned during a road show in February, the report said.

LMFP batteries have a theoretical energy density of up to 230 Wh/Kg, 15-20 percent higher than lithium iron phosphate (LFP) batteries, but the cost of the material makes little difference, according to LatePost.