CATL Inks First Major Deal to Provide Sodium-Ion Battery Storage
(Bloomberg) -- Contemporary Amperex Technology Co. Ltd. said it signed a three-year deal to provide sodium-ion batteries to Beijing HyperStrong Technology Co., a domestic manufacturer of power equipment.
CATL did not disclose the value of the agreement but said in a statement it would amount to 60 gigawatt-hours, and mark the battery giant’s first strategic partnership in sodium-based technology.
These batteries use sodium as their key raw material instead of lithium, and are expected to deliver safer and low-cost rechargeable cells. The International Energy Agency expects 2026 “could prove to be a pivotal year” for sodium batteries, which could begin to displace at least some demand for more familiar lithium-ion technology.
CATL, which has added more than 300 staff and invested almost 10 billion yuan ($1.5 billion) in sodium-ion research and development in the past decade, has described the segment as “alternative risk management,” offering a hedge against wild swings in lithium prices. The company’s Chief Technology Officer Gao Huan told reporters at an event in Beijing last week that it will begin mass-production of sodium batteries in the fourth quarter of this year.
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