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Volkswagen-backed Chinese EV battery maker Gotion takes on rival CATL with superfast-charging LFP product
- Gotion’s G-Current lithium-ion-phosphate battery offers a driving range of nearly 500km in under 10 minutes of charging
- The company expects to start large-scale delivery of the battery to EV assemblers from early 2025 when its new production facilities are complete
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Daniel Renin Shanghai
Gotion High-Tech, a Chinese battery maker backed by Volkswagen, said its new fast-charging battery is ready for commercial production, a product that gives it an edge against rivals like CATL, the world’s top electric-vehicle battery producer.
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The fourth-largest EV-battery maker in mainland China and eighth-largest worldwide said the G-Current lithium-ion-phosphate (LFP) battery offers a driving range of nearly 500km in less than 10 minutes of charging.
The LFP battery can power both pure electric and plug-in hybrids and is targeted at sedans and SUVs priced between 300,000 yuan (US$41,530) and 400,000 yuan, Cao Yong, vice-president of Gotion’s engineering research and development institute, said on Friday.
“It was developed to cater to market demand,” Cao said. “The battery will largely address the [driving range] pain points for consumers.”
Batteries account for nearly 40 per cent of the cost of an EV. China is the world’s largest EV market where four out of every 10 new cars are powered by batteries and the pace of expansion of charging facilities is quickening. Sales of EVs on the mainland account for 60 per cent of the global total.
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