Chinese industry players Neta Auto and CATL have just expanded their current partnership with a new battery agreement. According to CnEVPost, the electric vehicle startup seeks to utilize CATL’s new Shenxing battery technology for its offerings.
With Neta’s addition, CATL now has two partners to use its new battery technology just after two months of introducing it.
Partnership details
Neta and CATL officially inked the strategic partnership agreement on October 7. CATL Chairman Robin Zeng and Neta CEO Zhang Yong were present at the signing ceremony, the local publication indicated, citing the press release.
Under the new agreement, CATL will reportedly aid Neta in its new projects and tech partnerships.
More importantly, it will provide the electric automaker with its Shenxing battery and support its global expansion.
Purpose
Partners aim to collaborate to expand their operations to foreign markets. However, it did not provide more information about the integration of the Shenxing battery.
The agreement primarily aims to secure Neta’s lithium-iron-phosphate (LFP) battery supply and develop new electric vehicle technologies.
As mentioned, they also aim to expand their operations in other overseas markets.
The partnership will certainly boost Neta’s EV sales and delivery figures in the coming years. For reference, Neta only sold 13,211 units in September, down 26.63% YoY.
Shenxing battery details
The Shenxing battery is the company’s new LFP battery technology, which it revealed on August 16.
According to the company, it can support a driving range of up to 400 km in just a 10-minute charging session.
It is also apparently the first-ever LFP battery to enable 4c charging in the world. For those unaware, C means the charging multiplier. That said, 4C charging allows for a full charge in just 15 minutes.
Impressively, the Shenxing battery can support a driving range of up to 700 km in full charge.
See Also:
- CATL advances as the most valuable private energy company in China
- CATL develops world’s first “superfast” charging EV battery with 400 km range in just 10 minutes
- CATL starts mass production of upgraded Qilin battery in China
- Hozon Neta V opens the door for a more affordable EVs era
- Neta and Nvidia partner to equip future models with DRIVE Orin chips
CATL aims to start the volume production of the Shenxing battery by the end of the year. It is expected to hit the market in the first quarter of 2024 through its integration into electric vehicle models.
Neta aims to release two new models, including the e-SUV Neta X and the code-named EP 32 crossover.
