Daily Archive: June 10, 2023
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BYD to build sodium-ion battery production base in Xuzhou
BYD will set up a joint venture with a local conglomerate to build a sodium-ion battery production base in Xuzhou, Jiangsu province.
(Image credit: Huaihai Holding Group)
BYD (OTCMKTS: BYDDY) will set up a joint venture with a local conglomerate to build a sodium-ion battery production base, the first time we've seen it move forward in building capacity for this alternative to lithium batteries.
Huaihai Holding Group and BYD's battery unit FinDreams signed a strategic cooperation agreement at BYD's Shenzhen headquarters on June 8, according to a press release from Huaihai yesterday.
The two parties will establish a joint venture to build a sodium-ion battery production base in Xuzhou Economic and Technological Development Zone in Jiangsu province to jointly create the world's largest supplier of sodium battery systems for micro vehicles, according to the press release.
Huaihai will provide its resources including markets and application scenarios, and FinDreams will provide products and services, the release said.
Huaihai said it sees the tremendous economic and social value of sodium batteries and began its involvement in the industry years ago with a strategic investment in sodium-ion battery startup Natrium.
Huaihai and FinDreams will expand demand for mini-vehicle batteries nationwide and globally, centered on Xuzhou, it said.
Huaihai's press release provided no further details. The company was founded in 1976 and has operations in small vehicles, electric vehicles, parts and components, and financial services.
Since last November, there have been several rumors that BYD's sodium-ion battery would be in mass production in 2023 and that the first model to carry the battery would be the Seagull.
However, none of these rumors have been confirmed by BYD. BYD launched the Seagull on April 26 with a starting price of RMB 73,800 ($10,350), though no version with the sodium battery is yet available.
On February 23, battery maker Hina Battery unveiled three sodium-ion battery cell products and announced a partnership with Anhui Jianghuai Automobile Group Corp (JAC).
Hina Battery and Sehol -- a joint venture brand between JAC and Volkswagen Anhui -- jointly built a test vehicle with sodium-ion batteries based on the latter's Sehol E10X model.
On April 16, CATL announced that its sodium-ion batteries will first be used in Chery's models. CATL unveiled its first-generation sodium-ion batteries on July 29, 2021, saying that the energy density of the cells alone has reached 160Wh/kg.
On April 20, local media 36kr reported that CATL's and BYD's sodium-ion batteries will both be installed in production vehicles this year, and they will both be a mix of sodium-ion and lithium-ion batteries.
Sodium-ion batteries currently have lower energy density than lithium-ion batteries, but cost less and sodium resources are seen as more abundant and readily available.
In the past two years, as lithium prices continue to rise sharply, sodium-ion batteries are highly anticipated.
However, since the beginning of this year, with the continued decline in lithium prices, sodium-ion batteries are seen as having a reduced cost advantage.
Sodium-ion's abundant resource reserves are difficult to quickly translate into cost advantages, and when the cost of lithium iron phosphate batteries is rapidly declining, automakers are hardly motivated to choose to carry sodium-ion batteries in the short term, the China Passenger Car Association (CPCA) said in a report on May 22.
($1 = RMB 7.1286)
CATL, BYD's sodium-ion batteries both to be in mass production within this year, report says
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NIO to launch ET5 Touring and ES6 in Europe on Jun 15
The ES6 is called the EL6 in Europe because of Audi's trademark lawsuit.
NIO (NYSE: NIO) said yesterday that it would launch new "models" in Europe on June 15, but didn't specify which ones. Now the answer has been revealed.
"We are revealing our new NIO models, the ET5 Touring and the EL6, on 15.06.2023, 19:00 CEST in a global online launch event and you are invited!" the Chinese electric vehicle (EV) maker tweeted today.
INSPIRED BY LIFE
We are revealing our new NIO models, the ET5 Touring and the EL6, on 15.06.2023, 19:00 CEST in a global online launch event and you are invited!
Stay tuned for more details ! #NIO #ET5Touring #EL6 #inspiredbylife pic.twitter.com/PjZGF7PHoX
— NIO (@NIOGlobal) June 10, 2023
The ET5 Touring will be NIO's first new model to be launched simultaneously in the global market, and its Chinese launch will start at 19:00 Beijing time (7:00 am US Eastern time) on June 15, a few hours before the European launch.
That European launch event starts at 1:00 pm US Eastern time on June 15, or 1:00 am Beijing time on June 16.
The EL6 is the SUV known in China as the ES6, which is using a new name in Europe because of the Audi lawsuit. Audi believes NIO's ES8 and ES6 infringe on its trademark rights for its S8 and S6 models.
NIO last held a launch event in Europe on October 8, 2022, when the company introduced the ET7, EL7 and ET5 to European consumers. The EL7 is the ES7 sold in China.
The company launched the new ES6 in China on May 24, and its deliveries began the night of the launch.
Earlier today, a message posted by NIO on its mobile app hinted that the ET5 Touring will be released for consumers in China, Norway, Sweden, Denmark, the Netherlands, and Germany.
The ET5 Touring show car and vehicles for test drives have recently arrived at NIO stores, and test drives will be available on June 15, it said.
NIO began accepting pre-orders for the ET5 Touring in China today, although the model's specifications and price have not yet been announced. Its delivery will begin on June 16, NIO said.
The production team of British automotive media Top Gear will be involved in the ET5 Touring launch event, according to information shared by the NIO App today.
As of today, the ET5 Touring show cars are available at 248 NIO stores in 48 cities across China.
NIO's stores include the flagship NIO Houses as well as the smaller NIO Spaces, and as of May 30, they numbered 118 and 269 in China, respectively, according to data it released on June 1.
NIO to launch ET5 Touring on Jun 15, delivery in China to start next day
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