SHANGHAI (Reuters) – Chinese battery giant CATL plans to start mass production and delivery of batteries based on a new materials technology, M3P, which will perform better but cost less than nickel and cobalt-based batteries, its chairman said.
Zeng Yuqun made the comments in an online investor briefing on Friday.
M3P batteries will have greater energy density and perform better than lithium-ion phosphate batteries, a market CATL dominates, but will be cheaper than nickel and cobalt-based batteries, he added.
(Reporting by Zhang Yan and Brenda Goh)
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