CATL(SZ:300750) Qian Zhan Wang·2025-12-29 03:42Core Viewpoint - CATL is set to significantly scale up the application of sodium-ion batteries across various sectors, including battery swapping, passenger vehicles, commercial vehicles, and energy storage by 2026, marking a new trend of "sodium-lithium dual stars shining" [2] Group 1: Company Developments - CATL launched its first-generation sodium-ion battery in July 2021 and introduced the world's first super hybrid battery with a pure electric range of over 400 kilometers in October 2022 [2] - The sodium-ion battery brand "Naxtra" was officially launched in April 2023, featuring two product lines: power batteries for passenger vehicles and 24V batteries for heavy trucks [2] - The Naxtra battery can charge from 30% to 80% in 30 minutes at -30°C, maintaining a 93% usable capacity, and can sustain a speed of 120 km/h even at 10% state of charge [2] Group 2: Technical Advantages - Sodium-ion batteries are seen as a crucial alternative to lithium-ion batteries due to the abundant availability of sodium resources, which are over 400 times more plentiful than lithium [3] - The production cost of sodium-ion batteries is estimated to be 25%-30% lower than that of lithium iron phosphate batteries, with a 40% reduction in equipment investment costs due to compatibility with existing lithium-ion production lines [3] - Sodium-ion batteries exhibit superior low-temperature performance, safety, and lower carbon footprints, making them suitable for various applications, especially in cold regions [3] Group 3: Market Context - China holds only about 7% of the world's lithium resources, leading to a heavy reliance on overseas lithium, which poses a significant challenge for the domestic new energy industry [5] - The increasing tension in lithium resource availability and price fluctuations has led to a surge in investment and research in sodium-ion battery technology, with major companies like Guoxuan High-Tech, BYD, and AVIC Lithium Battery also entering the market [5][6] - The market for sodium-ion batteries is expected to grow significantly, particularly in the energy storage sector, with predictions of nearly 50 GWh of installed capacity in China by 2030 [6] Group 4: Strategic Importance - Sodium-ion batteries are recognized as a strategic focus for national competition, with various international and domestic initiatives promoting their development [9] - The commercial vehicle sector is identified as a key area for the large-scale commercialization of sodium-ion batteries, particularly in heavy-duty and light-duty trucks [9]