Contemporary Amperex Technology Co. Ltd. has unveiled an electric vehicle battery with a range of over 1,000 kilometers on a single charge, and charges faster than existing technologies.

CATL’s new battery, called Qilin, will boost volume utilization rate to 72%, the world’s highest, versus 50% for its first generation launched in 2019, the firm said, and increase the battery system’s energy density to 255 Wh/kg.

The company says this is 13% more performance that the upcoming Tesla 4680 battery pack.

Production is slated for 2023, Reports say that Chinese electric vehicle start-ups Li Auto and Hozon New Energy Automobile already signing on to purchase the battery.

Among the innovations is the use of a cooling strategy that uses liquid cooling for functional parts between adjacent cells.

The large-surface cell cooling technology increases the heat transfer area by four times, cuts thermal control time in half, and supports a hot start in 5 minutes and fast charging in 10 minutes, says the firm.

It enables the cell to cool down rapidly in extreme circumstances, effectively preventing abnormal thermal conduction among cells.

Moreover, it has achieved thermal stability and thermal safety for all chemical systems, making it compatible with materials with higher energy density.