At the same time, CATL Company established an inventory management committee to control the inventory from the top level, flexibly adjust the purchase volume according to seasonal changes, and improve inventory utilization and turnover efficiency. In the downward cycle of material prices, the company has promoted rapid destocking and shortened the procurement cycle. The company continues to promote competitive products to the market while maintaining a reasonable level of profitability without significant impairment.

Some investors asked CATL, does the company have a hydrogen energy business? What do you think of the development of hydrogen energy? In this regard, CATL Company replied, “Hydrogen has a very low volume energy density at room temperature, and high-pressure storage tanks are required for storage. The energy is converted. First, the electrical energy is converted into hydrogen, and then converted into electrical energy through hydrogen combustion, which involves a lot of infrastructure. , large area, low conversion efficiency and other factors, the work is relatively complicated, and the cost is relatively high. We believe that electrochemical energy storage such as lithium batteries and sodium batteries has a cost advantage when the price of materials is appropriate.”

The price of battery-grade lithium carbonate has continued to fall this year and has now fallen below 180,000 yuan/ton. In the first quarter, CATL delivered a perfect answer: operating income of 89.038 billion CNY, a year-on-year increase of 82.91%; net profit attributable to the parent company of 9.822 billion CNY, a year-on-year increase of 557.97%.

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To fund this manufacturing process, CATL will pump in over 45 billion Yuan from investors, partners, and shareholders. The company aims that its new battery will reach a capacity of 670GWh by the year 2025 which is more than the 170.39GWh available on the CATL lithium-ion battery. Already, we have seen a prototype of a sodium-ion battery from CATL that was on display sometime last year. We expect the company to build upon its existing technology, hence creating its next-generation sodium-ion batteries.

Read also: CATL’s new battery material will improve energy density by 20%.

There are benefits of the coming CATL sodium-ion battery in close comparison with the existing CATL lithium-ion battery. These benefits will make the sodium-ion battery a strong choice for many EV manufacturers once it goes into mass production and supply. Here are a few reasons why sodium-ion batteries can replace lithium-ion batteries:

• Sodium is more readily available in the earth’s crust.
• Sodium-ion batteries have higher energy density than their close competitors.
• Charging of a Sodium-ion battery is faster than a lithium-ion battery.
• The temperature on a Sodium-ion battery doesn’t flare up quickly like it would on a lithium-ion battery.

These are just a few areas where the CATL sodium-ion battery will become a more solid option to its lithium competitor. Also, reports relating to the coming CATL sodium-ion battery show that the company is putting much research into making the battery a sure success. Once it becomes available we can expect to see the likes of Tesla, BMW, Volvo, Peugeot, Toyota, Hyundai, Honda, and Volkswagen make use of the new battery technology on their comes EVs.

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