CATL has confirmed that it is ready to ramp up production of its new M3P cathode materials, the exact chemistry of which remains officially undisclosed. The M3P batteries are expected to offer 15% higher energy density than previous lithium iron phosphate (LFP) cathode batteries while remaining cheap to produce with geographically abundant materials. CATL’s M3P battery was first floated last August as one of its potential successors to its LFP battery, with news of its developmental success coming last Friday from Chairman Zeng Yuqun at an investor briefing. M3P abandons traditional naming conventions of elemental referencing in favor of brevity, as the name implies three metals and phosphate. We can consider this a successor to the LFP battery since it…