Maverick Electric is looking for new battery technology alternatives and the company plans to launch its first sodium-ion two-wheeled electric vehicle in 2023, said Maverick Electric CEO Li Yan, according to a report by CSI.com.
According to Li Yan, sodium-ion batteries are heavier than lithium batteries at the same range but have a cost advantage. “Battery costs are rising, and with the limited increase in vehicle prices, it is important to find ways to reduce costs in other areas.”
According to the announcement released by Maverick Electric in March this year, by the upstream lithium and other raw materials prices rose sharply, Maverick Electric on April 1 to the whole series of lithium products retail guide price increase, the amount of increase ranging from 200-1000 yuan.
According to the financial report, in the first quarter of 2022, Maverick Electric reported revenue of 575 million yuan, up 5.1% year-on-year, while the electric scooter market in China reported revenue of 458 million yuan, up 12.6% year-on-year.
