(Yicai) Oct. 25 -- Shares of Contemporary Amperex Technology jumped after the Chinese battery giant launched the world's first power pack for hybrid electric vehicles with a pure electric range of over 400 kilometers.

CATL [SHE: 300750] closed up 5.2 percent at CNY258.88 (USD36.34) a share in Shenzhen today, after earlier surging by as much as 7.8 percent, bringing the stock’s gain so far this year to almost 60 percent.

A 10-minute charge of the Freevoy Super Hybrid Battery can also provide up to 280 km of driving range, Ningde-based CATL announced yesterday. And since the battery integrates both lithium and sodium batteries, its cold-weather range has been greatly improved over standard lithium packs, it added.

Extended-range hybrid batteries combine pure electric and hybrid technologies to provide longer all-electric driving range and faster charging speeds, meeting the needs of long-distance travelers. 

Figures from the China Passenger Car Association show a dramatic rise in hybrid and extended-range vehicle sales in the country, with significant growth seen in both plug-in hybrids and EREVs. The global market for ER hybrids is expected to reach USD450 billion by 2030, according to researchers at MarketsandMarkets.

A number of EV brands are already set to use Freevoy, including Changan Automobile's Avatr Technology, Deepal, and Nevo marques, as well as Li Auto and Hozon Auto's Neta. By next year, the pack is expected to power nearly 30 range-extended hybrid models across more brands.

Last month, retail sales of plug-in hybrids in China surged 97 percent from a yea earlier, while EREV sales jumped 89 percent, with the two segments accounting for nearly 43 percent of the new energy vehicle market, according to data from the CPCA. Sales of pure EVs rose 29 percent.

Editors: Tang Shihua, Martin Kadiev