Carmakers who faced skyrocketing prices for lithium and other battery metals last year could increasingly adopt sodium-based cells in the future, helping to alleviate strains on raw materials as sales of electric vehicles surge, according to BloombergNEF.
In a new analysis of the technology, BloombergNEF said it expects sodium to take market share from the cheapest, lowest-range end of the car market in China, and that by 2035 it could displace about 272,000 tons of demand for lithium. That is projected to account for about 7% of the overall market that year. If protracted lithium shortages emerge, the switch could be much more aggressive, BNEF said in the report published Thursday.
