CATL Unveils EV Battery With One-Charge Range of 1,000 Kms

CATL is the world’s biggest maker of electric-car batteries

Contemporary Amperex Technology Co. Ltd. unveiled an electric-car battery it said has a range of over 1,000 kilometers (620 miles) on a single charge and is 13% more powerful than one planned by Tesla Inc., a major customer.

CATL, as the world’s biggest maker of electric-car batteries is known, will start manufacturing the next-generation “Qilin” next year, according to a video the Chinese company streamed online Thursday. The battery charges faster than existing cells, and is safer and more durable, CATL said.

The Qilin battery, named after a mythical Chinese creature, has an energy density of up to 255 watt-hour per kilogram, Ningde, Fujian-based CATL said.

https://www.bloomberg.com/

Hertz is buying 100,000 Teslas

Trouble getting gasoline-powered cars

Hertz is betting big on electric vehicles. It’s buying 100,000 Teslas, the largest-ever order by a single buyer.

“Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” said Mark Fields, the interim CEO of Hertz and former CEO of Ford. “The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to grow our EV fleet.”
But the reasoning goes beyond customer demand: Hertz and its rivals are having trouble getting gasoline-powered cars from traditional automakers, as a shortage of computer chips and other parts is making car production difficult.
It also shows that Hertz, less than four months out of bankruptcy, is willing to spend big again.

The company emerged from bankruptcy on June 30 with $1.8 billion in unrestricted cash and $1.2 billion available on credit lines. It will likely finance the purchase of the Teslas, as it does with most of its car purchases. Hertz also recently announced plans for an initial public offering that will help raise cash.

https://edition.cnn.com/