Ganfeng Lithium, (click here) the world's biggest lithium company by market capitalisation, said on Thursday its subsidiary would invest a total 8.4 billion yuan ($1.3 billion) in two projects that will make "new-type" lithium batteries.
China's Ganfeng is best known as a supplier of battery-grade lithium to clients including electric vehicle (EV) maker Tesla (TSLA.O), but also makes batteries and last week secured 973.1 million yuan of investment in battery unit Ganfeng LiEnergy, including from electronics giant Xiaomi (1810.HK).
Ganfeng LiEnergy will spend 5.4 billion yuan to set up an industrial park in Chongqing, southwest China, with annual battery production capacity of 10 gigawatt hours (GWh) and an advanced battery research institute, Ganfeng said in a filing....
August 4, 2021
Chinese giant CATL’s first generation of sodium ion batteries (click here) are entering the market in 2023. If the company makes up for the lag in energy density, the new technology may become more competitive than lithium-based solutions.
Lithium ion batteries are dominating the global energy storage market including electric vehicles. However, the sector’s rapid expansion is fueling price growth and drastic shortages are possible as soon as next year. Also, quality lithium ore is scarce and producers across the world are under fire for extensive water consumption in the process and other environmental impacts. Sodium ion batteries are the main pretender to the throne.
Contemporary Amperex Technology Co. Ltd. (CATL), which rapidly ascended to the third position in the market capitalization list of Chinese companies, excluding Hong Kong, presented a solution that it claims is already more competitive in the field of integration efficiency, performance in low air temperatures and charging speed.
