Chinese power battery manufacturer, CALB, has outlined its ambition to become one of the world's top three providers in terms of installation volume, according to CEO Liu Jingyu. Speaking at CALB's global partner conference in Jiangsu province's Changzhou city, Liu emphasized the company's commitment to ongoing innovation for performance and cost efficiency, with the goal of achieving a top three installation volume globally.
In September, CALB achieved 3.6 gigawatt-hours of installation volume, securing the fourth position among global battery makers for the first time, as reported by SNE Research data. Within China, CALB has ascended from the ninth position in 2018 to the current third position, trailing behind CATL and BYD.
Dai Ying, senior vice-president of CALB, anticipates a golden decade for the power battery industry, noting that despite being in its early stages, the industry has yet to reach a mature, stable, and healthy state. He highlighted the industry's susceptibility to fluctuating prices of upstream materials, such as lithium, a crucial component for electric vehicle batteries.
CALB's batteries are utilized by various Chinese EV startups, including Nio, Xpeng, and Leapmotor, as well as major Chinese automakers like Changan, Geely, and GAC's Aion. The company's semi-solid batteries, scheduled for installation in a foreign luxury brand's models in the fourth quarter of 2024, boast a 10-minute charge time allowing a maximum range of 1,000 kilometers.
Looking ahead, CALB plans to commence mass production of its 46 Series 6C-rate large cylindrical batteries in the fourth quarter of 2024. These batteries can charge 80 percent in 10 minutes, with its 5C battery set for mass production and installation in high-end brands in 2024.
Addressing the power battery industry's overcapacity, CALB has diversified into the energy storage business with facilities in Chengdu, Sichuan province, and production lines in Wuhan, Hubei province, and Jiangmen, Guangdong province. In 2022, the company's energy storage shipments reached around 2 GWh, experiencing significant revenue growth in the first half of the current year.
Having gone public in Hong Kong in 2022, CALB is gearing up for additional initial public offerings on other markets in the future. The company recently signed cooperation agreements with six domestic and foreign banks, laying the groundwork for future international expansion. CALB is also constructing its first overseas factory in Portugal, expected to commence production by the end of 2025, with an initial annual capacity of 15 GWh. Zheng Xiang, head of CALB's Portugal factory, highlighted the company's recognition of opportunities in European, U.S., and Southeast Asian markets, emphasizing the overseas facility's role in promoting local development and serving international customers.