Chinese price-competitive sodium-ion batteries pose threat to Samsung, LG

CATL, a Chinese battery manufacturer and technology company, is commercializing sodium-ion batteries — a move that poses an increasing threat to Korean battery firms, which still rely on sales of less price-competitive nickel cobalt manganese (NCM) batteries, experts and industry officials said Thursday. The Chinese firm recently unveiled its second-generation Naxtra sodium-ion batteries for electric vehicles (EVs), and shared its plan to start its mass production in December this year. Sodium-ion batteries offer several major advantages over nickel cobalt manganese (NCM) and lithium iron phosphate (LFP) batteries, particularly in terms of cost and proven safety against fire risks. They also maintain strong energy density even in extremely low temperatures. The latest move by the Chinese battery giant puts particular pressure on LG Energy Solution, Samsung SDI and SK On, as their research and development of sodium-ion batteries is still in its early stages. Chinese battery firms have rapidly expanded their market share with cheaper LFP batteries in recent years. LFP batteries are expanWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times