China’s largest lithium battery maker Contemporary Amperex Technology Ltd (CATL) plans to begin producing in 2019 next-generation nickel-rich batteries, which are cheaper to make and have longer life-spans, according to an internal company presentation and a company source. Its plans for the NCM 811 battery, which have not been officially announced, come as global battery makers have been searching for ways to reduce the proportion of cobalt in their batteries to cut costs. The price of cobalt, which stabilizes and extends the life of lithium-ion rechargeable batteries, rose by 130 percent over 2017 and peaked at a record high of $95,250 a tonne in March this year on booming battery demand. FILE PHOTO: A sign of Chinese battery maker Contemporary Amperex […]