Chinese battery manufacturer CATL has announced a breakthrough in electric vehicle battery technology, unveiling a new lithium iron phosphate (LFP) battery capable of charging from 10% to 98% capacity in less than seven minutes.

The battery technology, called the Shenxing battery, also claims to provide a driving range of up to 1,500 kilometers on a single charge. CATL, which stands for Contemporary Amperex Technology Co. Limited, is one of the world's largest battery suppliers for electric vehicles.

According to the company, the new battery incorporates self-heating technology that allows it to maintain performance even in extremely cold temperatures, including Arctic conditions. This addresses one of the key challenges facing electric vehicle adoption in colder climates, where battery performance typically degrades significantly.

The announcement represents a significant advancement in EV charging technology, as current fast-charging systems typically require 30 minutes or more to achieve similar charge levels. The development could help address range anxiety and charging time concerns that have been barriers to wider electric vehicle adoption.

CATL has not yet announced which automakers will use the new battery technology or when vehicles equipped with these batteries will become available to consumers. The company supplies batteries to major automotive manufacturers including Tesla, BMW, and Volkswagen.