(Yicai Global) Dec. 14 -- China’s SAIC Motor and Contemporary Amperex Technology plan to develop a power battery with a range of up to 1,000 kilometers within five years, tech media outlet 36Kr reported today.

The battery under development has an energy density 30 percent to 40 percent higher than the current industry-leading level and can reach a top range of about 1,000 km and go 200,000 km with zero decay, the report cited Liu Tao, deputy head of the project’s preparation team, as saying.

The mileage of mainstream power cells now available is between 500 km and 800 km in the mid- to high-end electric vehicle market.

The new battery will come on the market within the next five years, Liu said, adding that an optimized cell material formula, patented heat insulation and flame retardant technology will also ensure the product is safe.

Shanghai-based SAIC and CATL, the world's largest vehicle battery maker, agreed to form a joint venture to work on the project with Alibaba Group Holding and the government of Shanghai’s Pudong New Area, the major automaker said at the end of last month.

SAIC and Fujian province-based CATL will jointly develop the technology and share any patents, Liu said. Zhiji Auto will be the first to apply this battery knowhow in the world and mass produce power cells equipped with it in future.

Zhiji Auto secured over CNY10 billion (USD1.52 billion) in its maiden funding round, with SAIC contributing 54 percent, Alibaba and Pudong 18 percent each, and other investors 10 percent, per a previous report.

The company will apply Alibaba's technological advantages in artificial intelligence and Big Data to come up with new smart cars to be made by SAIC, it said at the time. 

Editor: Ben Armour