Chinese EV battery maker CATL launches 2nd-gen battery, says it can add over 300 miles of range in just minutes

• The race to build EVs that can charge as quickly as it takes to refuel a gas vehicle is heating up.
• Chinese firm CATL showed off a new battery on Monday, which it said can add over 500km of range.
• Rival BYD has also unveiled 5-minute charging as Chinese companies and Tesla battle for EV dominance.

The EV charging wars are heating up — with battery giant CATL unveiling a new battery it says can out-charge BYD and Tesla.

CATL launched an updated version of its Shenxing battery on Monday, which it said allows electric vehicles to add 520 km (323 miles) of range in just five minutes of charging.

The latest news sees CATL potentially snatch the lead in the global race to build EV batteries that can charge in the same amount of time it takes to fill a car up with gas.

Automakers around the world are banking on ultra-fast charging to convince people to buy electric, with lengthy charging times and range anxiety still cited as some of the main reasons people are reluctant to switch.

Chinese EV giant BYD announced its own superfast charging system last month, which is capable of adding 400km (250 miles) of range in five minutes, while Tesla's most advanced chargers can provide around 320 km (200 miles) of range in 15 minutes.

China has quickly built up a technological advantage. In the past year, BYD, CATL, and Tesla rival Zeekr have all demonstrated batteries that can charge in under 15 minutes.

And CATL upped the ante by showing off a host of cutting-edge batteries at its 'Tech Day' event on Monday.

The company said the second-generation Shenxing battery was capable of ultra-fast charging in freezing temperatures, something EVs usually struggle with.

In a cold-weather demo, CATL showed a Shenxing-equipped electric car charging from 5% to 80% in 15 minutes at temperatures of minus 10 degrees Celsius (14 degrees Fahrenheit).

CATL also teased a sodium-ion battery cell called Naxtra, which it said was more stable than traditional lithium-based batteries, and a series of dual-power batteries it said could equip EVs with up to 1,000km of range.

The Ningde-based company is the world's largest battery manufacturer and is preparing for a multibillion-dollar public listing in Hong Kong. CATL's shares were up over 2% on Monday.