Companies, scientists are constantly looking for the winning play which is why there is no shortage of excitement for electric vehicle battery startups or multibillion-dollar investments in the industry. Although China is already moving ahead with one that isn’t dependent on a big, bold breakthrough with sodium-ion batteries. If done right, this technology would lead to widespread adoption in a market that is dependent on subsidies and where EV sales still contribute to be a fraction of all cars.
The world’s largest battery manufacturer, China’s Contemporary Amperex Technology has unveiled its latest product in July – a sodium-ion battery. China’s Ministry of Industry and Information Technology said the following month that it would drive the standardization and commercialization of this type of power pack providing a cheaper and safe alternative to the current crop in offer.
Sodium-ion batteries are not exactly a new development as they were being researched in the 1970s, but it was quickly taken over by a fancier and more promising variety – lithium-ion battery. While lithium-ion batteries have been one of the greatest inventions in power storage, they are increasingly coming up against issues including cost and availability of materials, and safety.
As per Jefferies Group LLC analysts, the content of sodium in earth reserves is around 2.5 to 3 percent or 300 times more than lithium and is also more evenly distributed. Although sodium-ion batteries currently have a lower energy density, they run better at cooler temperatures and have a greater life span.
Sodium-ion batteries will need a new supply chain as they cannot rely on the well-established lithium-ion ones. CATL has said that it will have a supply chain in place by 2023 while other companies like HiNa Battery Technology Co. already have ongoing projects.
