China’s Contemporary Amperex Technology (CATL), the world’s largest producer of electric vehicle batteries, has unveiled an upgraded battery that promises an even longer range than rival BYD’s cutting-edge technology.

The electric vehicle industry is on the cusp of a major advancement, thanks to Chinese battery giant, Contemporary Amperex Technology (CATL). The world’s leading EV battery producer has just unveiled a new sodium-ion battery to reshape the industry.

SHANGHAI (Reuters) -Chinese electric vehicle battery maker CATL on Monday launched the second generation of its "Shenxing" fast-charging battery, which it said would power more than 67 new electric vehicle models this year.