CATL's new energy system 'to target world markets'
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Chinese battery giant CATL has launched a new energy storage system called Tianheng, which is the world's first mass-producible energy storage system with five-year zero loss of capacity. The Tianheng system has a capacity of 6.25 megawatt-hours, with unit area energy density increasing by 30 percent and footprint decreasing by 20 percent. CATL may target overseas projects first due to high production costs. CATL is planning a second listing in Hong Kong to raise between US$5 billion and US$6 billion. XPeng, a Chinese electric vehicle maker, has appointed Sime Darby as its distributor in Hong Kong and plans to open a flagship store in the third quarter. XPeng is expected to sell its latest electric SUV model G6 and flagship electric seven-seater MPV X9 from mid-May. XPeng plans to enter Macau with partner Xin Kang Heng and expand its footprint in Spain, Thailand, Singapore, and other European countries. Sales of EVs in China have recorded the lowest quarterly growth in a year for the first three months of this year. XPeng's share price rose 7.71 percent to HK$32.15 per share yesterday but the stock is still down 43 percent so far this year.

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https://www.thestandard.com.hk/section-news/section/2/261897/CATL%27s-new-energy-system-%27to-target-world-markets%27