Recently, research institutions EVTank and Eway Economic Research Institute jointly released the "White Paper on the Development of China's Sodium-ion Battery Industry (2024)". EVTank's statistical data shows that the actual shipment volume of sodium-ion batteries in China in 2023 is only 0.7GWh, far below the previously predicted 3GWh. In the white paper, EVTank analyzes that the main reason for the lower than expected shipped volume and industrial development of sodium-ion batteries is that their theoretical cost advantage has not yet been reflected and the average price of sodium-ion batteries is still higher than that of competing products such as Ternary Lithium-ion Batteries, Lithium Iron Phosphate Batteries, and Lead-acid Batteries.

The White Paper shows that the enterprises ranking top in terms of sodium-ion battery shipment volume in 2023 are Zhongke Haina, Veken Technology, Contemporary Amperex Technology, BYD, and Jiangsu TransImage Technology, among which energy storage is the largest application market for sodium-ion batteries in 2023, accounting for up to 60%, followed by electric two-wheeled vehicles and new energy vehicles. In the field of new energy vehicles, Contemporary Amperex Technology, Zhongke Haina, and Farasis Energy (Gan Zhou) Co., Ltd. have started to supply products in batches in 2023.

According to data from EVTank, due to the decline in the price of lithium carbonate, the price of lithium-ion batteries has been reduced from the previous high point of 1.1 yuan/wh to 0.5 yuan/wh in June 2024, and the price of lead-acid batteries has basically remained at around 0.4 yuan/wh. Although the recent rise in lead prices has led to an upward trend in the price of lead-acid batteries, it is still significantly lower than the average price of 0.65 yuan/wh for sodium-ion batteries. EVTank pointed out that companies at every link of the sodium-ion battery industry chain should take multiple measures such as reducing costs through raw materials, scale effects, and technological progress to enhance their competitiveness in downstream application scenarios as soon as possible.