Chinese battery companies CATL and BYD, along with smaller company Beijing HiNa, are leading the global EV battery market with a focus on LFP, NMC, and sodium-ion batteries. HiNa's sodium-ion batteries have made waves in the industry, with BYD and CATL also investing in sodium-ion technology. While sodium-ion batteries have lower energy density compared to lithium competitors, they offer superior energy retention at cold temperatures. The expectation is that sodium-ion batteries may start to replace LFP batteries in the future. The advancement of SIB technology is putting pressure on traditional battery companies, such as those in Korea, to adopt the new technology or risk losing market share. The progression of battery chemistry advancements is similar to what has been seen in the evolution of EV batteries, with newer, lower-cost options replacing older technologies as they meet performance requirements.
https://cleantechnica.com/2025/11/30/the-strange-time-compression-of-sodium-ion-battery-development/