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CATL launched its first-ever sodium-ion battery in July that year, and the move “triggered high 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 companies towards sodium, he notes. The worldwide prices with regard to battery-grade lithium skyrocketed, multiplying over fourfold in a year due in order to strong demand for electric vehicles (EV) and the Covid-19 pandemic. Typically the main difference is the ions they employ – the particles shuttling back again and forth between a battery’s positive and negative sides to store and release energy.
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In Case you liked this story, sign up regarding The Essential List e-newsletter – 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. The “biggest difference” between companies in China and other countries is that the former can bring a technology from the lab in order to mass production much faster, Zheng says. But the price of lithium started in order to plunge in late 2022 in addition to is at a fraction of its peak level today. A Single reason is that major Oriental battery makers such as CATL and Gotion have expanded their lithium-processing capacity, Zhang says.
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