Apr 24, 2025

Race Is on to Design a New Breed of Battery to Power China’s Fleet of Flying Cars 00:00 Industry projections indicate China's eVTOL battery market could grow to 112.6 billion yuan by 2030 A high-stakes race is underway to develop and supply the advanced batteries needed for the coming wave of electric vertical take-off and landing aircraft, or eVTOLs, as China prepares for its “ low-altitude economy ” to take to the skies. Analysts forecast a lucrative market — potentially reaching 112.6 billion yuan ($15.4 billion) in China alone by 2030 — attracting both established battery giants and nimble startups. However, high costs and significant technological challenges still need to be faced. You've accessed an article available only to subscribers Subscribe to both Caixin Global and The Wall Street Journal — for the price of one. RELATED Share this article DIGEST HUB Explore the story in 30 seconds China’s eVTOL battery market could reach 112.6 billion yuan ($15.4 billion) by 2030, but faces high costs and major technological hurdles. eVTOLs require aviation-grade batteries with higher energy density, faster discharge rates (2C-3C), and much higher costs (10x car batteries). Both established firms (e.g., CATL, Gotion) and startups are competing, focusing on innovations like fast-charging and solid-state batteries, but finding an optimal solution remains challenging. AI generated, for reference only Who’s Who Contemporary Amperex Technology Co. Ltd. Contemporary Amperex Technology Co. Ltd. (CATL) is an industry-leading automotive battery supplier. In August, CATL announced an investment of hundreds of millions of dollars in eVTOL maker Shanghai Autoflight Co. Ltd. The companies have formed a strategic partnership aimed at developing battery solutions tailored for electric vertical take-off and landing (eVTOL) aircraft, signaling CATL's significant push into the emerging aviation battery market in China. Shanghai Autoflight Co. Ltd. Shanghai Autoflight Co. Ltd. is an eVTOL maker based in China. In August, the company received a strategic investment of hundreds of millions of dollars from battery industry leader Contemporary Amperex Technology Co. Ltd. (CATL) to jointly develop advanced battery solutions for eVTOL aircraft as part of a strategic partnership. China Aviation Lithium Battery Co. Ltd. China Aviation Lithium Battery Co. Ltd. is one of several major battery manufacturers entering the competition to develop advanced batteries for eVTOL aircraft in China’s emerging "low-altitude economy." Alongside other industry players, the company is working to meet the unique requirements of aviation batteries, which demand higher energy density and power compared to automotive batteries, aiming to supply the growing and lucrative eVTOL market in China. Eve Energy Co. Ltd. Eve Energy Co. Ltd. is one of the battery suppliers entering the race to develop advanced batteries for eVTOL aircraft in China. The company is competing alongside other major players to address the unique demands of aviation-grade batteries, which require higher energy density and power delivery compared to electric vehicle batteries. Gotion High-tech Co. Ltd. Gotion High-tech Co. Ltd. is one of several major battery manufacturers entering the race to develop advanced batteries for eVTOL (electric vertical take-off and landing) aircraft in China’s emerging aerial economy. Alongside industry leaders like CATL and other rivals, Gotion aims to supply high-performance aviation batteries addressing the specialized demands of eVTOLs, such as high energy density and rapid power delivery. Farasis Energy Inc. Farasis Energy Inc. is mentioned in the article as one of the battery manufacturers entering the race to develop advanced batteries for eVTOL (electric vertical take-off and landing) aircraft in China. Alongside other industry players, Farasis aims to address the unique requirements of the eVTOL sector, such as higher energy density and faster power delivery, to support the emerging low-altitude aviation economy. Guangzhou Greater Bay Technology Co. Ltd. Guangzhou Greater Bay Technology Co. Ltd., backed by the GAC Group, is focusing on R&D for energy density and fast-charging capacity in aviation batteries. In April 2024, the company partnered with eVTOL leader Guangzhou EHang Intelligent Technology Co. Ltd. to develop fast-charging aviation batteries, contributing to technological advances crucial for the eVTOL industry's development in China. Guangzhou EHang Intelligent Technology Co. Ltd. Guangzhou EHang Intelligent Technology Co. Ltd. is a leading eVTOL (electric vertical take-off and landing aircraft) maker in China. The company has partnered with Guangzhou Greater Bay Technology Co. Ltd. to develop fast-charging aviation batteries and with Shenzhen Inx Technology Co. Ltd. to test solid-state lithium metal batteries, reportedly achieving a near 50-minute flight and extending aircraft endurance by over 60%. Shenzhen Inx Technology Co. Ltd. Shenzhen Inx Technology Co. Ltd. is a partner of eVTOL leader EHang, focusing on solid-state battery technology. In November, Inx equipped an eVTOL with its solid-state lithium metal battery for a test flight, reportedly extending the aircraft’s endurance by over 60% and enabling a flight duration of nearly 50 minutes. 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