China’s Contemporary Amperex Technology Co., Limited (CATL) has introduced its newest battery cell technologies, which have the ability to reduce costs without sacrificing performance and charge as fast as filling up a petrol tank.

CATL has swiftly risen to the top of the global battery manufacturing rankings. It is among the main, if not the most important, factors driving the development of electric vehicles.

CATL’s success can be attributed in large part to its innovations in lithium-iron phosphate (LFP) battery cells. Although LFP cells used to have a significantly lower energy density than nickel-rich batteries, they are now more affordable.

LFP cells became popular for entry-level EVs as a result of the Chinese battery makers’ ability to slightly bridge the gap while keeping costs down.

Now, CATL wants to use sodium-ion batteries in a similar way.

Similar to LFP cells, sodium-ion battery cells may be less expensive than more widely used Li-ion cells, but they may also perform better, especially in terms of longer lifecycles and quicker charging.

CATL stated some incredibly remarkable stats when it revealed its new sodium-ion battery cells, Naxtra, today.

According to reports, the new cell’s energy density of 175 Wh per kilogram (385 Wh per lb) is comparable to that of the more expensive LFP battery cells.

Additionally, the new cells have the potential to significantly increase safety.

Intense stress tests, such as drilling into a cell and even severing it in two without causing a heat event, were shared by CATL:

Next-generation sodium cells have the potential to further reduce the cost of electric vehicles without sacrificing performance or safety.

CATL has introduced its next-generation Shenxing LFP battery cells in addition to the new Naxtra cell.

It has a very remarkable charge rate. CATL provided multiple instances of vehicles that maintained over 500 kW at a state of charge of more than 50% while charging at about 1,000 kW.

Depending on the EV model, the new cell is said to be able to increase range by 300 miles (482 km) in roughly five minutes.

It’s almost as fast as filling up a petrol tank.

By the end of the year, the Shenxing will be available in 67 different electric car models, according to CATL.

Following the release of the next-generation cell, CATL’s main rival, BYD, also presented their newest technology, which can charge electric cars at incredibly high speeds.