At a press event reminiscent of a high-profile car launch, China's leading battery maker CATL detailed innovations that could bring electric cars closer to price and

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 Shenxing batteries' new technology offers the capability of providing 520km of range with five minutes of charging. That amounts to an astonishing 2.6 km of driving range added every second — more than double current industry standards.