SHANGHAI — China’s Contemporary Amperex Technology Co., a Tesla supplier, is developing a new type of electric-vehicle battery that contains no nickel or cobalt, a company executive said Saturday.
Nickel and cobalt are key ingredients in the batteries that power EVs. Battery makers from Japan’s Panasonic Corp. to South Korea’s LG Chem are lowering the use of expensive cobalt in their nickel-cobalt-aluminium batteries or nickel-cobalt-manganese batteries.
Tesla CEO Elon Musk last month urged miners to produce more nickel, warning the current cost of batteries remained a big hurdle to the company’s growth.
CATL makes NCM batteries and supplies lithium ion phosphate batteries to Tesla. It has partnerships with Japan’s Toyota Motor Corp. and Honda Motor Co. and supplies Germany’s Volkswagen Group and Daimler.
The new battery type will be different from existing NCA, NCM and LFP batteries and will have no expensive metals like nickel or cobalt, Meng Xiangfeng, a senior executive at CATL, told an industry conference held by the China Association of Automobile Manufacturers in Shanghai.
Meng did not give details of the makeup or the cost of the planned battery type.
CATL is also developing a separate technology to integrate battery cells directly into an EV’s frame to extend its driving range.