Chery and CATL also plan to offer Shenxing Battery-equipped models overseas, tapping into markets in Europe, the Middle East, ASEAN and North America.

Shenxing Battery is a battery based on lithium iron phosphate (LFP) chemistry that CATL unveiled on August 16 that supports ultra-fast charging.

Vehicles equipped with the battery can get a 400-kilometer range on a 10-minute charge and is the world's first LFP battery to support 4C charging, CATL said in the August release.

C refers to the battery's charging multiplier, and 4C means that the battery can theoretically be fully charged in a quarter of an hour.

Supported by CATL's own developments, including an ultra-high conductivity electrolyte formulation, the Shenxing Battery allows an EV to achieve a range of up to 700 kilometers, the company said.

On August 16, Avatr Technology, backed by Changan Automobile, CATL and Huawei, announced that it will use Shenxing Battery, becoming the first EV brand to announce that it will adopt the battery.

Last week, Neta Auto struck a new deal with CATL to use Shenxing Battery, becoming the second automaker to announce it will carry the battery.

CATL is the world's largest power battery maker, with a 36.9 percent share of 158.3 GWh loaded in January-August, according to data released on October 11 by South Korean market researcher SNE Research.

CATL unveils Shenxing Battery, claims 400 km range on 10-minute charge