CATL, the world's largest battery manufacturer, has announced a new 'condensed' battery with an energy density of 500 Wh/kg, which is expected to go into mass production this year. This breakthrough is significant as it exceeds Elon Musk's 2020 prediction that 400 Wh/kg batteries would be commercially possible by now. The new battery technology has the potential to enable the electrification of passenger aircraft and other applications. CATL's announcement is notable because the company has the expertise and capacity to scale up production.