BYD has initiated the groundbreaking of its first sodium-ion battery factory with an investment of $1.4 billion, aiming for a 30 GWh annual production capacity. This development follows BYD surpassing Tesla as the world's largest EV producer.
While lithium-ion batteries currently dominate the EV market, sodium-ion presents a promising alternative offering cost-efficiency and reduced raw material dependency. Sodium-ion batteries are particularly suited for small, low-cost vehicles requiring less energy density.
FinDreams, a subsidiary of BYD, and Huaihai Holding Group have formed a joint venture to spearhead the sodium-ion battery initiative. The new plant in Xuzhou is not the first collaboration between BYD and Huaihai. They have previously partnered to produce the Blade Battery, demonstrating a history of successful joint ventures. There were speculations in 2022 about BYD launching sodium-ion battery production in 2023; however, the Seagull model was released with an LFP Blade Battery.
Source: Carnewschina
