The sodium battery base is deliberate to have a complete funding of RMB 10 billion and an annual capability of 30 GWh.
(BYD Seagull. Picture credit score: CnEVPost)
BYD has signed a take care of native conglomerate Huaihai Holding Group to collectively construct a sodium battery manufacturing base with an annual capability of tens of GWh.
FinDreams, BYD’s battery making unit, and Huaihai signed a deal on November 18 in Shenzhen, the place BYD is headquartered, to construct the sodium battery website in Xuzhou, Jiangsu province in jap China, in accordance with a press launch by Huaihai yesterday.
The undertaking, with a deliberate complete funding of RMB 10 billion ($1.4 billion) and an annual capability of 30 GWh, would be the world’s largest provider of sodium battery techniques for microcars, in accordance with the discharge.
(Picture credit score: Huaihai Holding Group)
It is the most recent improvement in BYD’s partnership with Huaihai, which signed a strategic cooperation settlement on June 8 to arrange a three way partnership to construct a sodium-ion battery manufacturing base within the Xuzhou Financial and Technological Growth Zone.
Huaihai will present its sources together with advertising and software situations, and FinDreams will present services, the corporate’s earlier press launch stated.
Sodium-ion battery expertise is maturing and has broad market prospects, FinDreams will speed up the development of the sodium battery undertaking in Xuzhou, stated He Lengthy, CEO of the BYD battery unit, in accordance with Huaihai’s press launch yesterday.
Established in 1976, Huaihai’s enterprise covers small automobiles, electrical automobiles, components and parts, and monetary providers. It did not point out a deliberate timetable for the development of the sodium battery undertaking.
Final November, there have been a number of rumors that BYD’s sodium-ion battery could be mass-produced in 2023 and that the primary mannequin to be powered by the battery could be the Seagull.
None of these rumors have been confirmed, nonetheless, and BYD has to this point not introduced that it has begun to hold sodium batteries in its fashions.
It is value noting that lithium carbonate costs have fallen sharply over the previous yr and may very well be probably holding again the event of sodium-ion batteries.
The associated fee benefit of sodium-ion batteries is seen to have diminished considerably with the extended decline within the value of lithium carbonate, a key uncooked materials for lithium-ion batteries.
Battery-grade lithium carbonate was quoted at RMB 149,000 per ton in China right now, down greater than 70 p.c from RMB 517,500 per ton firstly of the yr, Mysteel knowledge confirmed.
The associated fee benefit of sodium batteries is now not distinguished as the value of battery-grade lithium carbonate falls again to round RMB 300,000 a ton, the Shanghai Securities Information stated in a Could 31 report.
($1 = RMB 7.2119)
World EV battery market share in Jan-Sept: CATL 36.8%, BYD 15.8%