• Sat. May 18th, 2024

Tesla and CATL Collaborate on New Battery Technology for Faster-Charging Electric Vehicles: Overcoming US-China Trade Conflicts

BySamantha Jones

Mar 25, 2024
Collaboration between Tesla and CATL Leads to Breakthrough in Fast-Charging Battery Technology

Tesla and CATL, the largest battery manufacturer in the world, are collaborating on a project to develop new battery technologies that will result in faster-charging electric vehicle batteries. The founder of CATL revealed this information in an interview with Bloomberg, stating that the two companies are working together on this project.

CATL has established a significant supply agreement with Tesla and serves as a battery supplier to major automakers such as BMW and Mercedes-Benz Group AG. However, due to U.S.-China trade and technology conflicts and restrictions on Chinese technology used in American-made products, CATL is unable to sell its batteries directly in the United States. Instead, the company is operating under licensing, royalty, and services (LRS) agreements with partners to license battery technology for a fee.

One of CATL’s LRS partners is Ford, one of Detroit’s Big Three automakers, which announced an agreement with CATL last year to manufacture battery cells using CATL’s lithium iron phosphate (LFP) battery cell knowledge and services. CATL is currently in talks with about 20 U.S. and European automakers to potentially reach similar licensing agreements.

In addition to working with CATL, Tesla is focused on maintaining its market share in the growing global EV battery market and producing a vehicle priced below $25,000. The founder of CATL stated that there is potential for cost reduction depending on the target price for the $25,000 car. He also confirmed reports that Tesla plans to open a small battery-manufacturing plant in Nevada using equipment from CATL, with minimal involvement from the Chinese company. This collaboration between CATL and Tesla aims to develop new electrochemical technology for faster-charging batteries.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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