According to CATL, the world’s largest battery manufacturer is starting production of its M3P batteries, which are 15 per cent more energy dense than Lithium Iron Phosphate batteries, company claims that batteries will perform better and cost less than nickel and cobalt-based batteries.
CATL is a global leader of new energy innovative technologies, committed to providing premier solutions and services for new energy applications worldwide.
Chairman Zeng Yuqun announced that it was working on the new battery. The increased energy density now at (210 kWh/kg) will enable EVs like the Tesla Model 3 to get a range of around 700 km with a similar sized battery pack to the existing LFP batteries CATL currently supplies Tesla.
MP3 is still a lithium phosphate battery. M3P battery is an improved version of the LFP chemistry where the iron is replaced with a mix of magnesium, zinc, and aluminium. MP3 is a lithium phosphate base battery. The magnesium, zinc, and aluminium mix increases substantially the battery’s energy density while keeping costs low.
Albanian Minerals CEO Sahit Muja in New York said Demand for minerals used in batterie could open up great opportunity for mining industry. Magnesium is building blocks for the future. Albanian Minerals is working with the best scientist’s and teams globally to utilize over 100 billion tons of green high quality magnesium, the world’s largest magnesium resource. This is great news in battery industry”.
“The magnificent Magnesium is revolutionizing entire industries with unmatched strong and light alloys. The aerospace industry has a long history of using magnesium in many applications both civil and military , in the manufacture of aircraft, rockets, and space satellites.
Sahit Muja added that; Substantial investments are expected on green batteries, energy storage, auto and mobility market ,wind power, solar, hydro power and green hydrogen on a scale that we have never seen before huge demand for metals and minerals used in hose industries are expected on this green transition. Albanian Minerals mission is to create a better green future for all the people in this world. As we pursue this mission, we’re guided by our principles that ensure to make this world a better place for future generations to come.
“Magnesium is an ideal material : The weight reduction of all industrial products is of high importance, magnesium alloys are the lightest structural alloys” Sahit Muja said.
