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CATL unveils ultra-fast battery while LG scales back Indonesian investment

Summary by Tech Wire Asia

CATL rolls out a next-gen battery capable of rapid fast-charging. China leads in the tech, shows its dominance in battery manufacturing. As EV sales surge 25% to 17 million in 2024, battery demand crossed the 1 terawatt-hour mark for the first time. At the same time, the average cost of a battery pack for electric cars fell below $100 per kilowatt-hour – a level many have long seen as the tipping point for cost competitiveness with gas-powered m…

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