The corporate additionally launched a battery-pack answer that may combine sodium-ion cells and lithium-ion cells into one case, compensating for the energy-density scarcity of the previous whereas preserving its benefits.
Whereas CATL is the world’s greatest battery maker, supplying electrical automobile large Telsa and promoting 34.1 gigawatt hours within the first half, up 234% year-on-year for a market share of 30%, like different producers it has been hit by rising uncooked supplies prices.
The worth of lithium carbonate, a core ingredient in most electrical car batteries, has doubled this 12 months whereas the value of nickel, one other key metallic, is at a five-month excessive.
“Sodium-ion batteries have distinctive benefits in low-temperature efficiency, quick charging and environmental adaptability,” CATL Chairman Zeng Yuqun informed Bloomberg. “Furthermore, they’re suitable and complementary with lithium-ion batteries. Diversified technical routes are an vital assure for the long-term improvement of the trade.”
“About 93% of CATL’s cell capability is positioned in China. Growing sodium-ion battery expertise may diversify their uncooked supplies consumption, particularly lithium,” Wooden Mackenzie senior analyst Le Xu stated in a observe.
“Battery suppliers akin to CATL, Tesla, LG Chem have proactively signed provide agreements with miners in Australia and Chile, which pushed lithium chemical substances spot costs to a brand new excessive prior to now six months,” Xu stated.
“Sodium-ion expertise has lengthy been touted for business battery use because of sodium’s low value and excessive abundance relative to lithium, and CATL producing giant scale sodium-ion batteries reveals the expertise’s attraction is coming to fruition sooner fairly than later,” WoodMac analysis analyst Max Reid added.
“The decrease vitality of the sodium-ion cells means that the expertise could also be extra fitted to stationary vitality storage purposes that are much less restrictive, whereas the disclosing of battery packs combining each sodium-ion and lithium-ion cells may level in the direction of compromise in efficiency for low-cost electrical automobiles, with the potential to disrupt the mass market,” Reid stated.
CATL founder Zeng overtook Alibaba Group Holding Ltd. co-founder Jack Ma within the wealth rankings earlier this month, a symbolic second within the rise of China’s inexperienced billionaires.
(With information from Bloomberg)