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The world’s largest battery maker has launched what it claims is the first ever “superfast charging” battery capable of delivering 400 kilometres (249 miles) of range from just a 10 minute charge. China’s Contemporary Amperex Technology Limited (CATL) said its new lithium-ion battery would open up a new era for electric cars and eliminate range anxiety for owners. On a full charge, the battery holds enough charge to travel over 700 km without needing to recharge – roughly 60 per cent further than the average electric vehicle in 2023. CATL said the increase in battery capacity and charge time was achieved through a “brand-new superconducting electrolyte formula” that results in improved conductivity. “The future of the EV battery technology must remain steadfastly anchored at the global technology frontier, as well as the economic benefits,” said Dr Wu Kai, chief scientist at CATL. “As EV consumers shift from pioneering users to ordinary users, we should make advanced technology accessible for all and enable everyone to savour the fruits of innovation.” CATL, which manufactured more lithium-ion batteries than any of its competitors in 2022, plans to begin mass production of its next-generation battery later this year. The company did not reveal which automakers would be the first to receive the batteries, though its customers include BMW, Daimler AG, Honda, Tesla, Toyota, Volkswagen and Volvo. Electric car sales have experienced record-breaking growth in recent years, with more than 10 million sold last year, however they still account for less than a fifth of all car sales. Range anxiety remains one of the main barriers for consumers when considering the purchase of an electric vehicle, according to the International Energy Agency, which has led manufacturers like CATL to invest heavily in overcoming this obstacle. Other challenges include access to battery materials and battery degradation, though CATL claims this second pain point is not an issue with its latest battery. Most major carmakers have set targets to phase out cars with internal combustion engines entirely by 2040 and estimates from the IEA suggest electric car sales will overtake fossil fuel-powered car sales within the next 15 years, though battery breakthroughs could reduce this time scale even further. Read More Battery breakthroughs are about to trigger a transport revolution Streaming services now cost more than cable TV Hozier would consider striking over AI threat to music industry Google is getting ready for the ‘quantum apocalypse’

If you've wanted an electric vehicle that doubles as a status symbol, you don't have