The Sodium ion batteries should be cheaper and relieve supply chain issues.

China's CATL (300750.SZ) said last week they will became the first major automotive battery maker to unveil a sodium-ion battery, saying it planned to set up a supply chain for the new technology in 2023.

The sodium-ion batteries do not contain lithium, cobalt or nickel.

The energy density of its new sodium-ion batteries is still lower than that of LFP batteries, Huang Qisen, deputy head of CATL's research centre told an online briefing. But he added that they perform well in cold-weather and fast-charging scenarios.