First Release! CATL provides long-life batteries specially designed for loaders

Recently, China Lonking (03339) held the debut offline ceremony of an electric loader equipped with CATL's new generation of long-life batteries at its headquarters in Longyan, Fujian. This marks the first landing of CATL's loader-specific long-life battery in China Lonking. CATL stated that the long-life battery system launched by China Lonking is a new generation product specifically developed for the loader market by CATL, with significant improvements in service life, energy density, and performance under harsh conditions compared to the previous generation products: 1. Longevity: Using new generation long-life battery cells, the system's lifespan has increased by over 60%; 2. High energy: Integrated battery box structure + new battery cells, with an increase of over 30% in energy capacity; 3. High strength + corrosion resistance: High-strength battery box structure design, 1.5 times increase in mechanical strength, and the use of specially-designed anti-corrosion materials to adapt to various harsh conditions. It is reported that the construction machinery industry is one of the important areas in CATL's electrification layout. Electric loaders, with zero emissions, high efficiency, comfort, intelligence, and excellent fuel and electricity economy, have become the pioneers of electrification transformation in the construction machinery industry. It is expected that the penetration rate of electrification in the industry will exceed 20% by 2024. CATL stated that currently, there are more than 10,000 electric loaders equipped with the company's batteries, and over 300 loaders have worked for more than 20,000 hours. CATL's battery products have not only withstood the harsh conditions of construction machinery but also accumulated rich experience and big data resources. Currently, CATL's market share in the loader and construction machinery industry is over 90%.