CATL will manufacture its upcoming fast-charging Shenxing battery in Germany and Hungary, according to principal engineer Gao Pengfei, who spoke at the IAA Munich car show on September 4.

The battery will go into mass production in late 2023 and will be available in electric vehicles in 2024.

CATL is a Chinese battery manufacturer and technology company founded in 2011 that specialises in the manufacturing of lithium-ion batteries for electric vehicles and energy storage systems, as well as battery management systems (BMS). CATL is the world's largest lithium-ion battery manufacturer for EVs, with a market share of 32.6% in 2021, producing 96.7 GWh of the global 296.8 GWh, up 167.5% from the previous year.

In 2022, it expanded even further, increasing its market share to 37%. The company intends to have more than 500 GWh of manufacturing capacity by 2025 and more than 800 GWh by 2030.

The company's headquarters are in the Chinese province of Fujian, in the city of Ningde. CATL has established thirteen battery manufacturing bases worldwide, namely in Ningde; Liyang, Jiangsu Province; Xining, Qinghai Province; Yibin, Sichuan Province; Zhaoqing, Guangdong Province; Lingang Special Area of China (Shanghai) Pilot Free Trade Zone, Shanghai; Xiamen, Fujian Province; Yichun, Jiangxi Province; Guiyang, Guizhou Province; Jining, Shandong Province; Luoyang, Henan Province; Erfurt, Germany and Debrecen, Hungary.