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Zeekr, Chinese automaker Geely's (OTC:GELYF) premium electric vehicle brand, has reportedly introduced its own lithium iron phosphate batteries, capable of rapid charging.
During an event at Geely Holding Group's battery plant in Zhejiang province, Zeekr revealed that the batteries could be sufficiently charged in just 15 minutes to deliver a range of 500 km (300 miles), reported Reuters.
The upcoming 007 sedan will be the first model to incorporate this technology, along with an 800-voltage electric system.
Zeekr's announcement comes amid growing efforts by Chinese EV manufacturers to develop and utilize their own battery technologies.
For instance, Nio Inc (NYSE:NIO), a rival in the Chinese market, is reportedly considering spinning off its battery unit to reduce costs, highlighting the strategic importance of battery technology in the EV sector.
As per the report, Zeekr has utilized nickel-manganese-cobalt (NMC) batteries from CATL for its 001 crossover and 009 multipurpose vehicles (MPV).
CATL has also launched its fast-charging batteries, which can be fully charged in 12 minutes to provide a similar driving range of 500 km (300 miles), and are being used in Li Auto Inc's (NASDAQ:LI) first pure electric MPV MEGA, the report noted.
Price Action: GELYY shares traded lower by 0.98% at $20.66 on the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
