The global wave of sodium-ion battery technology is gathering momentum. On June 10th, General Motors and the grid energy storage firm Peak Energy announced a collaboration to jointly develop and deploy next-generation sodium-ion battery cells specifically designed for grid storage. Under the agreement, GM will lead the cell R&D at its Michigan battery lab and retain exclusive manufacturing rights for the cells, while Peak Energy will integrate them into its proprietary energy storage systems. "We will jointly produce large-capacity, low-cost sodium-ion batteries to provide energy storage and power for data centers and the grid," said Kurt Kelty, GM's Vice President of Battery and Sustainability.
In the domestic Chinese market, the four key segments of the sodium-ion battery industry—materials, manufacturing, systems, and applications—are now maturing simultaneously. The industry's development logic has fully shifted from laboratory R&D and small-scale pilot projects to industrial-scale mass production and large-scale commercial deployment. Sodium-ion batteries are entering their own 'lithium iron phosphate (LFP) moment', with initial applications concentrated in the energy storage sector.
Against the backdrop of building a new power system, advancing the 'dual carbon' strategy, and the continuous expansion of energy storage demand, sodium-ion batteries have emerged as a highly competitive technological pathway in the new energy storage field. This is due to their inherent advantages: abundant sodium resources, high self-sufficiency rate, excellent performance across a wide temperature range, long cycle life, and outstanding safety. At the Shanghai Sodium-ion Battery Energy Storage Industry Technology Exchange on June 4th, Wang Zunzhi, General Manager of the Sodium Battery Division at Ronbay Technology, stated directly that the entire sodium battery industry is beginning to experience its own 'LFP moment' this year, similar to that of LFP batteries around 2020.
In 2020, driven by technological advancements like CTP (cell-to-pack) design, LFP batteries achieved a leap in system energy density and cost, leading to a rebound in their market share within the power battery sector and their gradual rise as a mainstream technology. Currently, the sodium-ion battery supply chain is accelerating its breakthroughs in technical challenges, attempting to cross the inflection point of large-scale commercial production. Leading companies are successively overcoming mass production barriers across the entire chain. The landing of large-scale energy storage orders and the commissioning of dedicated production lines mark the industry's departure from the 'concept stage' and its entry into a comprehensive product development cycle.
The industrialization process at the battery cell level is accelerating. CATL's second-generation sodium-ion battery has already achieved mass production, with the first batch of sodium-ion energy storage systems scheduled for delivery in September this year, targeting GWh-level shipment volumes for the full year. Furthermore, CATL has secured a three-year, 60 GWh long-term order for sodium-ion energy storage batteries with Hyosung Heavy Industries, setting a new global record for sodium-ion battery order volume. Breakthroughs are also occurring in the automotive power sector. A mass-produced passenger vehicle equipped with CATL's sodium batteries has been launched onto the market by Changan Automobile, with multiple brand models planning to adopt sodium battery systems. This new sodium battery boasts an energy density of 175 Wh/kg, can discharge stably in extreme environments as low as -50°C, and passed penetration safety tests without fire or smoke, addressing two long-standing pain points for new energy vehicles: reduced range in cold weather and thermal runaway. According to CATL, sodium batteries will see large-scale application in areas like battery swapping, passenger vehicles, commercial vehicles, and energy storage by 2026.
It's not just CATL. Other industry leaders like BYD and EVE Energy Co., Ltd. are also accelerating their efforts in the sodium battery industry. According to BYD's disclosures, it completed the large-scale production of polyanionic-type sodium batteries specifically for energy storage as early as 2025, having rolled out a series of achievements including the world's first megawatt-level polyanionic sodium-ion battery energy storage system and the world's largest polyanionic sodium-ion battery energy storage power station. Recently, He Long, BYD Group Executive Vice President and CEO of FinDreams Battery, publicly asserted that sodium battery energy storage is a key focus for BYD. "Sodium is for energy storage, and energy storage will also make sodium successful. It is expected that sodium will replace lithium iron phosphate in the future. Sodium battery energy storage offers a cycle life exceeding 20,000 cycles, and sodium can support grid-level energy storage power stations (e.g., 10 GWh scale)."
EVE Energy Co., Ltd. has completed all mass production validation for its self-developed NF155L sodium-ion battery, with batch supply to the energy storage and light-duty power markets expected by the end of 2026. It plans to build 2 GWh of its own battery capacity by 2027. In May, Gotion High-tech officially launched its sodium-ion battery brand 'Na Chen GNASCENT', with mass production and delivery expected in the fourth quarter of 2026. Sunwoda has introduced its 'Xinnuoqing' sodium-ion battery technology platform, entering the market strongly with multiple high-performance sodium battery cells. Its sodium-ion battery platform products have completed development, design freeze, and are steadily progressing with supply chain establishment and customer promotion.
CNGR is strategically positioned at the crucial precursor and cathode material node for sodium batteries, akin to the 'Strait of Malacca' for this supply chain. A recent hot topic among investment influencers in the capital markets is the 'Perilla Leaf Rule'—the idea that, like the perilla leaf which is small but uniquely flavored and indispensable, the ideal investment target in an industry should occupy a critical, hard-to-replace position, possess scarcity, and have potential for explosive order growth and price increases, preferably among small to mid-cap companies. Applying this analogy helps focus on the most valuable segments within the sodium battery industry chain.
The sodium battery industry chain consists of three main segments: upstream equipment and core materials, midstream cell manufacturing and system integration, and downstream end applications. Its overall structure is similar to that of lithium batteries, with separators and most equipment being largely compatible. However, significant differences exist in areas like the anode, current collector, and electrolyte solute. If the anode determines whether a sodium battery 'can work', the cathode determines how 'well it works and how expensive it is'.
Cathode material remains the single most costly component in a sodium-ion battery. The precursor is an indispensable core pre-processing step for cathode material. The crystal structure, particle size, compaction density, and cycling performance of the cathode are essentially determined by the precursor. Therefore, all sodium battery cathode manufacturers and cell makers with in-house cathode production must purchase precursors, making it a rigid-demand consumable. This perfectly aligns with the Perilla Leaf Rule's emphasis on a critical, scarce node with potential for order surges.
CNGR is precisely positioned at this key juncture in the sodium battery supply chain. Based on its diversified materials science strategy, CNGR has proactively laid out its industrial products and technology for sodium battery precursors. The company pioneered the low-cost polyanionic (NFPP) precursor for sodium-ion batteries in the industry and has achieved mass production for both 'polyanionic + layered oxide' technical routes. As an essential pre-step for cathode material production, CNGR already supplies all leading sodium battery companies. Its product shipments reached the thousand-ton level in 2025. Well before the large-scale commercial application of sodium-ion batteries, the company has established a first-mover advantage in terms of shipment volume, customer and technology reserves, and production supply capability. Since 2026, demand for CNGR's sodium-based materials has been robust, with production consistently operating at full capacity.
Furthermore, benefiting from the diversified materials ecosystem CNGR has built, its production line equipment for the sodium battery field boasts strong compatibility and reusability advantages. For instance, the production process for layered oxide sodium battery materials is largely compatible with that for ternary precursors, while the process for polyanionic sodium battery materials is similar to that for LFP, allowing for equipment and production line compatibility and easier scaling of capacity.
The growth prospects and market space for sodium batteries are promising. Looking at forecasts from various institutions: CICC estimates sodium battery installation demand could exceed 400 GWh by 2030. Soochow Securities offers an even more optimistic projection, expecting shipments to surpass 15 GWh by 2026 and potentially break through 500 GWh by 2030, with a penetration rate potentially exceeding 30% by then. Regardless of the specific forecast, the projected long-term market space of 300-400 GWh represents significant growth potential for the sodium battery market and its core supply chain companies, serving as a main driving force for a new upward cycle in this technological race.