Tesla（Chinese：特斯拉）'s domestic Model 3 will continue to upgrade the battery pack, especially the basic model rear-wheel drive version will be upgraded from 60kWh to 66kWh.The upgraded model will utilize CATL（Chinese：宁德时代）'s new M3P battery. Furthermore, it is reported that the CATL M3P battery pack will not only be used in the upgraded Model 3 but will also be part of the platform solution for future Model Y upgrades.
Official data shows that the current driving range of the Tesla Model 3 produced at the Shanghai factory is between 556 kilometers and 675 kilometers. The Model 3 is expected to have a single charge range of over 700 kilometers with the new M3P battery, aligning with CATL's mileage commitment.
The "M3P" battery, short for "M3P" multi-phosphate battery, was first mentioned by CATL's Chairman, Yuqun Zeng, during a financing roadshow in February 2022. The M3P battery is developed by CATL based on a new material system, offering higher energy density than lithium iron phosphate batteries and lower cost than ternary batteries. This battery is a comprehensive solution to the two major long-term pain points of phosphate-based and ternary lithium batteries.
CATL's M3P battery is likely incorporates two metal elements such as magnesium, zinc, or aluminum, which substitute some iron elements in the phosphate system, resulting in a ternary material for improved charge and discharge capacity and cycle stability. While the industry has been researching M3P materials for many years, there were still inherent issues to be resolved, most notably inadequate conductivity. CATL's research team tackled this problem through long-term exploration and extensive calculations, successfully enhancing the conductivity by modifying the material with different elements.
According to a report from autoevolution, the energy density of the M3P battery will be approximately 15% higher than the existing lithium iron phosphate battery, which is around 210 kilowatt-hours per kilogram. This advancement is expected to increase the driving range of the Model 3 produced at the Shanghai factory by 10%.
Currently, besides CATL, other mainstream material and battery companies have also been actively developing manganese iron phosphate materials. For example, calb-tech（Chinese：中创新航） has released the One-Stop high-manganese lithium iron battery, supporting a vehicle range of over 700 kilometers. In May 2023, GOTION HIGH-TECH（Chinese：国轩高科） launched the L600 Qicheng cell and battery pack based on manganese iron phosphate, with a range of up to 1000 kilometers, expected to be mass-produced in 2024. In June 2023, Dynanonic（Chinese：德方纳米） announced that the company has built an annual capacity of 110,000 tons for manganese iron phosphate. Additionally, companies such as EASPRING（Chinese：当升科技） and RONBAY Technology（Chinese：容百科技） are also involved in the development of manganese iron phosphate.
It is estimated that the demand for M3P materials in 2023 will be around 20,000 tons, with the potential to reach a level of 100,000 tons next year. In the upstream sector, companies with manganese ore reserves and high-purity manganese sulfate production capacity will be the first to benefit. In the midstream sector, leading companies with modified technology, core patents, and large-scale production capabilities are expected to thrive. In the downstream sector, the application of manganese iron phosphate has already been seen in the latest products in the electric bicycle market, and it is anticipated that the adoption will accelerate in the electric vehicle market, with domestic automakers expected to begin vehicle production in 2023.