Tesla Supplier Challenges EV Maker's Powerful Battery With Latest Launch

• Tesla, Inc (NASDAQ: TSLA) supplier Contemporary Amperex Technology Co Ltd launched an electric-car battery with a range of over 1,000 kilometers (620 miles) on a single charge.

• CATL claimed that the battery was 13% more potent than Tesla's 4680 battery to be made by Panasonic Holdings Corp (OTC: PCRFY), the Bloomberg reports.

• The Qilin battery has an energy density of 255 watt-hours per kilogram.

• Also Read: Panasonic Disclosed Finalizing US Site For Tesla's New Battery Plant

• The battery charges faster than existing cells and is safer and more durable, CATL claimed.

• The leading electric-car battery maker will start commercializing the next-generation "Qilin" in 2023.

• CATL raised 45 billion yuan ($6.7 billion) in a private placement to produce and upgrade lithium-ion battery manufacturing in four Chinese cities and research and development.

• Price Action: TSLA shares traded lower by 0.98% at $701.33 on the last check Thursday.

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