Guoguang Electric Sodium Battery Price

Who is Guoguang electric (ggec)?

Guoguang Electric Co., Ltd. (GGEC), established in 1951, has emerged as a prominent player in the audio and electro-acoustic industry. The company secured its listing on the Shenzhen Stock Exchange of China in 2005 (stock code: 002045) and holds the prestigious position of being the chairman's unit of the China Audio Industry Association.

Are sodium-ion batteries scalable?

If brought to scale, sodium-ion batteries could cost up to 20% less than incumbent technologies.” Despite their promise, lithium prices and supply chain challenges heavily influence the development of sodium-ion batteries, which could impact their near-term scalability.

Will sodium-ion batteries become more expensive in 2023?

IEA’s report states, “In 2023, leading battery manufacturers announced expansion plans for sodium-ion batteries, such as BYD, Northvolt, and CATL, which initially sought to reach mass production by the end of the same year. If brought to scale, sodium-ion batteries could cost up to 20% less than incumbent technologies.”

Will sodium-ion batteries be cheaper than lithium-ion batteries?

The global supply of lithium has grown more quickly than demand since 2022, leading to lower prices. Researchers and analysts expect that sodium-ion batteries will have a cost advantage over lithium-ion in the long run.

Could sodium-ion batteries transform the battery industry?

Sodium-ion batteries could further transform the industry by reducing costs and critical mineral reliance. IEA’s report states, “In 2023, leading battery manufacturers announced expansion plans for sodium-ion batteries, such as BYD, Northvolt, and CATL, which initially sought to reach mass production by the end of the same year.

What is CATL's first-generation sodium-ion battery?

CATL's first-generation sodium-ion battery. Credit: CATL Sodium-ion batteries for electric vehicles and energy storage are moving toward the mainstream. Wider use of these batteries could lead to lower costs, less fire risk, and less need for lithium, cobalt, and nickel.