CATL launched its first-ever sodium-ion battery in July that 12 months, and the move “triggered higher industry interest”, says Phate Zhang, founder of the Shanghai-based EV news outlet CnEVPost. Lithium’s prices continued to soar in 2022, driving more cost-conscious Chinese language companies towards sodium, he notes. The worldwide prices for battery-grade lithium skyrocketed, multiplying over fourfold in a yr due to strong demand with respect to electrical vehicles (EV) and the Covid-19 pandemic. Typically the main difference is the ions they employ – the particles shuttling back and forth between a battery’s positive and negative sides to be able to store and release energy.
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When you liked this story, sign up for The Important List publication – a handpicked selection regarding features, videos and can’t-miss news, delivered to your inbox twice a week. Therefore, it will have less reliance on the current industrial chain, Mo says. Typically the “biggest difference” between companies in China and other countries is that the former can bring a technology from the lab to mass production much faster, Zheng says. But the price regarding lithium started in order to plunge in late 2022 in addition to is at a fraction associated with its peak level today. 1 reason is that major Chinese language battery makers such as CATL and Gotion have expanded their lithium-processing capacity, Zhang says.
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