Equipped with a massive 7,500 kilowatt-hour battery from Contemporary Amperex Technology Co. Ltd., the world’s leading electric vehicle battery manufacturer, the ship will begin commercial operations in April. It will primarily serve sightseeing tourists.
With a length of 100 meters and a width of 16, the Yangtze River Three Gorges 1 can carry up to 1,300 passengers. It can travel approximately 100 kilometers on a single charge, which is equivalent to saving 530 tons of conventional fuel. The ship will mark the beginning of the battery-powered watercraft industry in China. Charging stations will also be built along the riverbank to meet the needs of electric vessels.
Yangtze River Three Gorges 1 can carry up to 1,300 passengers
“The ship runs very smoothly; you feel like you’re gliding over a flat surface,” Cheng Lu, a passenger on the ship, told China Daily on March 30.
Captain Chen Guohai stated that the entire operational system is computer-controlled, which sets it apart from other ships.
“In the past, I had to rely on my experience to identify where the ship was having issues. Now, everything is monitored by computers. The power consumption and battery life are also compared with previous data and adjusted automatically,” said Mr. Chen.
The launch of the Yangtze River Three Gorges 1 helps Contemporary Amperex Technology Co. Ltd. (CATL) further solidify its position in the global battery industry. This company has risen to dominate the global electric vehicle battery market in just ten years. It plays a crucial role in China’s strategy for high-tech supply chain independence.
CATL’s success has also made its founder, Robin Zeng, one of the wealthiest individuals in the region, with a net worth of approximately $60 billion. The leader’s acumen is believed to be the key behind CATL’s success, allowing it to surpass Western competitors in this critical industry.
Mr. Zeng has ten years of experience in the battery industry and founded a company specializing in lithium batteries for mobile phones, cameras, and other handheld electronic devices in 1999. This company was sold in 2005 for $100 million to Japan’s TDK Corporation.
In 2009, as China promoted electric vehicle development through generous subsidies, a group of Chinese investors led by Mr. Zeng acquired 85% of TDK’s electric vehicle business. They successfully developed it into a battery company named Contemporary Amperex Technology Co Ltd (CATL) and began supplying products to BMW.
As China pushed to enhance domestic manufacturing capabilities, the battery and electric vehicle sectors were strategically planned. The Chinese electric vehicle market exploded and quickly surpassed the U.S. market in 2015. Alongside the market’s potential, incentive mechanisms and subsidies significantly contributed to CATL becoming the largest battery company in the world.
Additionally, China requires electric vehicle manufacturers to use CATL batteries for vehicles operating within the country.
Not stopping there, the venture into the water transport sector opens up even greater potential for CATL, with the Yangtze River Three Gorges 1 serving as a prime example.
