China’s Contemporary Amperex Technology Co.(CATL), the largest battery maker in the world and the supplier for Tesla and Volkswagen AG, says it has created a battery with a lifespan of 16 years and running capacity of 1.24 million miles (1.99 million kilometres), an innovation with the potential to ignite the marketability of electric vehicles.

The lifespan of CATL’s new EV battery, which costs about 10% more than its competitors, leaves other models in the dust, reports The Independent. Standard EV batteries can only cover around 200,000 miles (322,000 kilometres).

“Despite enthusiasm for eco-friendly cars, doubts have persisted over EVs’ battery capabilities and if they would need to be replaced,” writes The Independent. That means a new, longer-life battery could be a game-changer, by laying those doubts to rest.

What may be especially enticing for consumers is the battery’s potential for later re-use in another vehicle, a side benefit that could lead to big savings down the road. Those savings could tip the balance in consumer decision-making toward EVs, “particularly in a market where vehicles powered by fossil fuels are benefiting from the recent collapse in global oil prices,” The Independent notes.

While CATL has yet to publicly confirm a contract for the revamped battery pack, it says it’s ready to do so. “If someone places an order, we are ready to produce,” said CATL chair Zeng Yuqun in an interview with Bloomberg.