News and Articles

Affordable Sodium-Ion Batteries With No Lithium Are Paving The Way In Spite Of The Dip In Lithium Carbonate Prices

BYD is the top EV manufacturer after Tesla and also ranks as the largest producer of batteries in the sector. Just recently, they began to supply inexpensive iron phosphate batteries to Tesla for the base Model Y; however, it will be focusing on sodium-ion cells as a part of its investment in cheaper chemistries.

FinDreams, the EV battery company which was spun off by BYD a few years ago, has embarked on a joint venture agreement with Huaihai Holding Group to develop its sodium-ion battery production business.

Request Access For the Latest Price Trends of Lithium Carbonate

This joint venture is expected to result in the construction of the biggest factory for sodium-ion, which is added to small EVs. For the project, BYD will be using its experience in manufacturing, and Huaihai's will bring in better connectivity which will boost sales and marketing.

The sodium-ion batteries naturally supply low energy density compared to conventional lithium-ion cells; however, it is cheaper to produce. The main component in it is sodium which is less expensive, safe and widely available, unlike lithium. Baes on chemistry, it is an ideal match for smaller EVs that offer less range and demand, which makes it an ideal starting point for companies.

According to Huaihai, the rapidly rising EV demand in China will be catered to by the growing sodium-ion battery production and will slowly spread all over the world. This new concept might not be as popular in the US market but will be an attractive opportunity for Europe.

At the moment, it is undecided what level of energy density will be offered by the new batteries or what EVs will initially be integrated in. But the company's mass production goals with its aim to be the top supplier in the world displays confidence and dedication in chemistry.

Read More About Lithium Carbonate Production Cost Reports - Get Free Sample Copy in PDF

According to the Procurement Resource article, BYD is going to venture into the sodium-ion battery production business. These batteries will power the highly demanded EVs to cater to Chinese demand and will likely move to the European market.