Charging ramped up in 6 minutes, CATL says the first half isn’t over yet.

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Author | Zhou Zhiyu

Changes in consumer demand have made the battery industry’s “battle of specs” highly competitive. Two years ago, 5C ultra-fast charging was still an exclusive advantage of high-end models from a few car companies, but now, 5C and 6C models are appearing en masse.

By March 2026, the charging specs of leading battery factories have collectively converged to the minute level. BYD Chairman Wang Chuanfu declared the conclusion of this round of competition: the first half of electrification has successfully ended. His implication is that the battery technology race has reached a ceiling, and the industry has moved into its second half, focusing on intelligence.

However, not everyone agrees with this final whistle. On CATL Tech Day Super Technology Day, April 21, 2026, CATL launched five new batteries covering all chemical systems and an energy replenishment network solution; ultra-fast charging is just one of many products. CATL CTO Gao Huan emphasized that energy density is the primary standard for measuring battery technology, and charging speed is just one aspect.

The battery replenishment arms race of the past few years has objectively achieved one thing: it has gradually eased consumer anxiety about energy replenishment for EVs, fostering belief that EVs can provide a replenishment experience close to gasoline cars.

But it hasn’t answered the next question. When all batteries can be fully charged in minutes, how are reliability and replenishment experience ensured? Over the past two years, car companies and battery manufacturers have been continuously learning, from technological paths to replenishment infrastructure, and the dimension of competition is shifting.

Charging Speed Reaches the Minute Level

The battery industry’s focus on charging speed is mainly driven by changes in consumer needs.

McKinsey’s “2025 China Car Consumer Insights,” released April 2025, found that some pure EV owners are intending to switch back to gasoline cars, mainly because of poor replenishment experiences. Later reports from AutoHome and other institutions showed that after penetration exceeds 50%, consumer decision logic shifts from “cost-effectiveness” to “quality-effectiveness,” moving beyond specs to actual user experience.

Charging speed is only one facet of user scenarios. But in the past two years, industry responses to replenishment issues have almost entirely focused on this dimension.

Car companies have made charging speed a core selling point. The 800V high-voltage platform has trickled down from high-end models, and 4C-5C ultra-fast charging is now standard in the 150,000-200,000 yuan price range. Charging speed has transformed from flagship exclusive to basic configuration.

In March 2026, BYD propelled this competition to its peak. The second-generation Blade Battery, using LFP (lithium iron phosphate), achieves 70% charge in 5 minutes and full charge in 9 minutes, only 3 minutes longer at minus 30°C. BYD also announced it would build 20,000 flash charging stations by year-end, with flash charging rolling out to models priced around 150,000 yuan. The battery, infrastructure, and operations were all deployed at once.

Wang Chuanfu has confidence in calling it a conclusion.

Over the past month, WallstreetCN’s exchanges with multiple car company execs revealed their key concern: BYD’s flash charging experience and whether it can directly influence consumers’ purchasing decisions.

CATL is no exception. Sources close to CATL told WallstreetCN that after BYD released its new batteries, interest from other car makers in ultra-fast charging battery collaborations surged, which is objectively pushing broader adoption of ultra-fast charging technology.

The dispute over replenishment routes is heating up again at this point. Soon after BYD launched its new battery, NIO Chairman Li Bin commented, “No matter how fast ultra-fast charging is, it cannot be faster than battery swapping,” questioning whether frequent fast charging damages batteries. BYD’s Brand PR General Manager Li Yunfei later said regarding swapping and flash charging, “Both are good, different paths to the same destination.”

CATL chose April 21 to launch the third-generation Shenxing battery to respond to market doubts about CATL’s ultra-fast charging progress and to introduce new technology to attract more car company collaborations. It charges to 98% in 6 minutes and 27 seconds, even faster on specs. But CATL stressed another point: after 1,000 ultra-fast charging cycles, capacity retention is still above 90%.

Gao Huan explained that the key challenge in fast charging isn’t trickle charging, it’s temperature rise. Every 10-degree rise in battery temperature doubles the rate of internal side reactions. If temperature rise isn’t controlled, the faster the energy is replenished, the shorter the lifespan will be.

CATL insists on 300 mm short batteries, a direction set in 2015. Gao Huan said that compared to 400 mm, 300 mm reduces heat generation by over 20%. CATL reduced the average internal resistance of LFP battery cells to 0.25 milliohms, only 50% of other industry ultra-fast charging batteries. Achieving this number wasn’t just making electrodes thinner--it required reducing internal resistance throughout the chain, from positive/negative particle morphology, SEI film construction, to electrolyte formulation.

This is CATL's differentiated approach in the charging speed competition: not only charging faster, but reducing impact on lifespan while doing so.

As for when third-generation Shenxing batteries will be used in vehicles, Gao Huan told WallstreetCN delivery dates depend on car company progress, with clear current info indicating the fourth quarter of this year. Existing batteries with specs like 5C are expected to soon be adopted in models priced 60,000-100,000 yuan.

This means that ultra-fast charging is moving from being exclusive to high-end models to the stage of general adoption.

The New Anchors of Competition

Ultra-fast charging technology equality means car companies must seek new anchors in spec competition.

In the first half of 2026, mass-production timelines for solid-state batteries are clustering. Hongqi released a 380 Wh/kg solid-state battery, planning small-batch installation in 2027. GAC’s all-solid-state pilot line started, with plans to equip Haobo. Geely self-developed Pack came off the line for car installation validation. Chery aims for targeted operation in 2026 and mass listing in 2027. Changan, SAIC, and BYD also announced respective milestones.

Car companies are scrambling because solid-state batteries represent a chance for reshuffling. Over the past decade, car companies depended heavily on battery manufacturers in the so-called “three electrics,” with CATL alone accounting for over 50% domestic share. If car companies can establish self-developed solid-state capabilities, dependence on external suppliers might decrease. All solid-state batteries from Hongqi, GAC, and Geely are self-developed.

Meanwhile, when charging speed, smart driving, and cockpits become homogenous, “equipped with solid-state batteries” may be the next consumer-perceptible technology label.

But those who make batteries know best how difficult solid-state is.

CATL Chairman Zeng Yuqun stated at last November’s World Power Battery Conference that full solid-state battery tech isn’t mature and mass production won’t come before 2030. Gao Huan also told WallstreetCN on April 22 that solid-state batteries are still in the 1 to 9 stage; pilot lines and samples are progressing smoothly. BYD is also aiming for small batches in 2027 and mass production by 2030.

Battery manufacturers are cautious; car companies are aggressive.

The essence of this split is a struggle for discourse power. Car companies want to seize the lead through next-gen battery tech, while battery manufacturers try to maintain irreplaceability through multi-system coverage.

CATL chooses not to compete in solid-state battery timelines. Instead, it brings up “condensed state” batteries, with cell energy density of 350 Wh/kg, sedan range of 1,500 km, SUV breaking 1,000 km, a technology previously validated in the aviation sector, with the core bottleneck of tuning to automotive standards being cost.

Gao Huan revealed in exchanges on April 22 that several high-end Chinese car companies are very interested in condensed state and are engaging actively.

Condensed state isn't a substitute for solid-state; it solves a similar issue. The difference is, solid-state still awaits mass production, while condensed state is ready for vehicle adoption.

Gao Huan gave a specific scenario: a 5.2-meter, six-seat SUV, tall body, significant wind resistance and energy consumption; achieving a 1,000 km range with LFP pushes the battery pack close to one ton. At the other end, sodium batteries will be mass produced by year-end, providing 300 km extended range and 500 km pure electric, targeting the economy segment. From condensed state to Kirin, Shenxing, Xiaoyao and sodium batteries, five chemical systems are deployed simultaneously. There is no other company in the industry with this breadth.

CATL Chief Scientist Wu Kai commented at the launch, “No single material can be perfect.” This is a cooling-off statement for the narrative of solid-state batteries as a “final solution.” Regardless of whether the car companies bet on solid-state or CATL bets on multi-system, in the end it must translate into the user experience via infrastructure.

Beyond the Battery: The Race for a Network

The number of charging poles has exceeded ten million, but consumers remain unsatisfied. Queueing on highways during holidays is routine; in cities, low utilization and queuing at peak coexist; rural coverage is seriously lacking. The issue isn’t too few poles, but uneven distribution and uncertain experience.

CATL’s battery swap business GM, Yang Jun, used the term “certainty.” He said “fast” matters, but “certainty” matters even more.

When users reach a station, whether they can replenish energy immediately is what they truly care about.

Key players in replenishment have differing models. BYD aims to build 20,000 flash charging stations by end-2026. NIO’s 4,600 battery swap stations offer differentiated service, separating car and battery ownership, leasing batteries, full lifecycle management, creating strong user retention but high per-station costs.

CATL’s latest solution is the ultra-swap integrated station, not picking sides between charging and swapping but stacking both scenarios in one station. Yang Jun calculated: shared transformer and charging module, overall power loss ratio is over 13 percentage points lower than storage-integrated ultra-fast charging; 100 kWh from the grid brings 13 kWh more to the car. Equipment reuse rate tops 85%, per-bay service is triple a storage charging station, and ultra-fast charging fixed investment is only one-fifth of storage-integrated solution.

The target is clear. BYD’s flash charging station, launched one and a half months earlier, centers on solar-storage-charging integration and storage-charging model.

But the real differentiation of the ultra-swap integrated station isn’t in specs, but in business model. CATL pursues an open platform, planning for 4,000 ultra-swap stations by end-2026, with first batch partners Changan, Chery, GAC, Seres, Wuling, and BAIC. By 2028, they plan to build over 100,000 shared replenishment facilities.

Yang Jun also revealed a detail: starting this second half of the year, Chocolate battery swap users can exchange a full battery pack at peak electricity price periods and the swap station pays the price difference, earning tens of yuan a day. The battery has shifted from a consumer product to a mobile energy asset.

Policy support is accelerating. State Grid is investing no less than 40 billion yuan in power infrastructure this year, and the Ministry of Finance and MIIT’s county-level charging and swap piloting specifically calls for exploration of battery swap, solar-storage-charging and other new modes. The national policy is not to pick sides, but to encourage coexistence of multiple modes.

From an industry perspective, the competition in replenishment networks ultimately aims at a deeper question: whose standard becomes the industry standard. The national standard for battery swap is a key variable everyone is waiting for.

The charging arms race over the past two years solved one problem and exposed a bigger one: as specs converge, battery industry competition is no longer about one battery, but a whole system. From cell to chemical system, to replenishment network, to industry standards, whoever can string this chain together gets the ticket to the next round.

Risk Warning and DisclaimerThe market entails risk, investment requires caution. This article does not constitute individual investment advice, nor does it consider the specific investment targets, financial situation, or needs of any particular user. Users should consider whether any opinions, views, or conclusions in this article fit their specific situations. Investing based on this, consequences are your own responsibility. ```