In a move that could redefine the energy storage and electric vehicle (EV) landscape, industry giants are placing their bets on a revolutionary technology: sodium-based batteries.
As Bloomberg reports, this strategic shift signifies a potential game-changer, leveraging sodium's abundance and cost-effectiveness to challenge the dominance of lithium in the battery market.
Sodium, abundantly found in rock salts and brines globally, has long been overshadowed by lithium due to the latter's superior range and performance.
However, Bloomberg underlines that recent developments indicate a seismic shift.
Sweden's Northvolt AB has announced a significant breakthrough in sodium battery technology, while Chinese EV manufacturer BYD Co. inked a staggering $1.4 billion deal to construct a sodium-ion battery plant.
Adding to this momentum, China's CATL previously declared the utilization of sodium-based batteries in vehicles starting this year.
The implications of successful sodium-based products are profound. Not only could they mitigate lithium consumption, but they might also reshape the metals used in batteries, leading to fluctuating supply-and-demand dynamics.
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