The sales of electric vehicles are on the rise across the world. A report finds out that the total EV vehicle sales globally are forecast to reach 51.6 million in 2035. People who purchase electric vehicles are always concerned about the exorbitant prices of EV batteries. Currently, lithium-ion batteries are being used in EVs and they are quite expensive. Their price comprises up to 40 percent of the price of the vehicle. Now, however, some companies have decided to use sodium-ion batteries in their vehicles. Post the introduction of sodium-ion batteries, the price of electric vehicles is also expected to be slashed by 30 percent. This means that if a sodium ion battery is installed in the Tata Nexon EV instead of Lithium Ion, then its price can be reduced from Rs 14.75 lakh to Rs 10 lakh.
There is great enthusiasm in the world regarding the production of sodium-ion batteries. Contemporary Amperex Technology Co Limited (CATL), has also announced plans to manufacture sodium-ion batteries. CATL, a China-based company is the world’s largest manufacturer of lithium-ion batteries. BYD, a China-based automaker company, is the second company to produce sodium-ion batteries. In comparison to its counterparts, another China-based company, HiNa Battery Technology Co Ltd has made great strides. They have also produced sodium-ion batteries. In India, Pune-based KPIT Technologies has conducted an internal testing of the sodium-ion battery technology in a small group.
Differences between the sodium-ion battery and the lithium-ion battery:
Sodium ion and lithium-ion are both rechargeable battery technologies. Still, there are some key differences between the two batteries. Lithium-ion batteries have a higher energy density in comparison to sodium-ion batteries. This implies that lithium-ion batteries can store and deliver more energy per unit weight or volume. Due to this reason, lithium-ion batteries can provide a great driving range in comparison to sodium-ion batteries.
Cost
The supply of lithium is limited while its demand is high. The price of lithium is $80 thousand per ton. The price of sodium hydroxide is around $800 per ton. The reserves of sodium are also more global in comparison to lithium. For this reason, sodium-ion batteries can be up to 30 percent cheaper than lithium-ion batteries.
Charging speed
The sodium-ion batteries will be charged at twice the speed of the lithium-ion batteries.
Temperature
Sodium-ion batteries are not affected by the temperatures in comparison to lithium-ion batteries.
Safety
Lithium-ion batteries have grown through a rigorous development process over the years. Due to this process, they have evolved into a more sophisticated technology. Sodium-ion batteries are new in the market and thus it is difficult to know whether they are safe or not.
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