By Greg Gao

(JW Insights) Oct 23 -- China’s EV battery manufacturer CATL achieved a battery shipment of nearly 100 GWh, with energy storage batteries accounting for approximately 20%. The company announced this at its 2023 third-quarter performance conference call that in the third quarter of 2023.

As demand has increased compared to the previous quarter, the company’s capacity utilization rate has improved to around 70%, surpassing the first half of the year. In the future, CATL will plan its capacity expansion based on market demand and orders. Thanks to continuous advancements in technology and manufacturing processes, the efficiency of their production line CAPEX has been steadily increasing, while the investment intensity per GWh is gradually decreasing, according to the company.

CATL launched Shenxing, the world’s first 4C superfast charging LFP battery in August this year。 It can deliver 400 km of driving range with a 10-minute charge as well as a range of over 700 km on a single full charge. The product is set to enter mass production by the end of this year, with vehicles equipped with the battery hitting the road in the first quarter of the next year, said the company.

In terms of its overseas operations, CATL’s factory in Germany is already put into operation. The factory in Hungary is designed to have a capacity of 100 GWh, with the first phase of construction already underway and an estimated completion time of around two years.