The commercialization of sodium-ion batteries is accelerating, and experts are optimistic about investment opportunities in power batteries

Sodium-ion batteries are complementary to lithium carbonate batteries

2023 is called the first year of commercialization of sodium-ion batteries by the industry. The reason why sodium-ion batteries have attracted much attention is mainly because of their "high cost performance" and "abundant resources". Especially in 2022, the price of lithium will be high, and the popularity of sodium-ion batteries will continue to rise.

As of 15:00 on April 18th, there were 28 A-share listed companies in Shenwan’s third-level lithium battery industry. Both achieved a year-on-year increase in net profit attributable to the parent company.

However, at the end of last year, the price of lithium battery materials dropped from 600,000/ton to below 200,000/ton. According to the data released by Shanghai Nonferrous Metals Network, the quotations of lithium battery materials fell across the board on April 18, and lithium carbonate (99.5% battery grade/domestic) fell by 1,000 yuan/ton to 186,000 yuan/ton, a cumulative decline of nearly 64% this year; battery grade Lithium hydroxide (fine powder) fell by 11,000 yuan/ton to 245,000 yuan/ton. Lithium battery industry chain profits may be transferred to the middle and lower reaches.

While the price of lithium carbonate is falling, the cost-effective advantage of sodium-ion batteries has also been challenged. In this regard, He Li, general manager of Zhishan Investment, told reporters that the development of sodium-ion batteries depends not only on the cost performance of lithium-ion batteries, but also on the advantages of sodium-ion batteries in specific applications. Sodium-ion batteries show certain advantages in low temperature environment, fast charging and safety. Some industry practitioners and related experts also said that even if the price of lithium carbonate fell below 100,000 yuan, sodium batteries still have application value in low-speed transportation, energy storage and other fields.

At the same time, Xie Houqin, a senior investment consultant of Jufeng Investment Consulting, told reporters that sodium-ion batteries and lithium carbonate batteries can be understood as a complementary relationship. The two technical routes move forward in the price game, and each has its own advantages. Sodium-ion batteries have three main advantages over lithium-ion batteries. First, sodium-ion batteries are more resistant to high and low temperatures. For lithium-ion batteries, potassium manganate batteries will decay at high temperatures, while iron-lithium batteries have poor low-temperature performance, but sodium-ion batteries It can work normally in the temperature range of -20°C to 90°C, and has better high and low temperature performance; second, sodium-ion batteries are safer, and the electrochemical reaction of sodium-ion batteries is more stable than lithium-ion batteries, and the negative electrode will not produce dendrites , and there will be no overcharge safety problem, which is why in some fields, such as low-speed electric vehicles, energy storage batteries, etc., sodium-ion batteries have wider application prospects; third, the sodium element is widely distributed, and lithium ore is mainly concentrated in South American countries and African countries, while sodium is distributed all over the world, so the production of sodium batteries is more independent and controllable, and will not be limited by the supply of international mineral resources. However, the energy density of lithium batteries is generally much higher than that of sodium batteries. For new energy vehicles with mileage anxiety, the cost performance is relatively higher.

Experts are optimistic about power battery investment opportunities

As of the close on April 18, the share prices of 12 of the 28 companies in the lithium battery industry have risen within the month. Among them, ST Shiwan, Power Technology and other stocks have the highest cumulative monthly gains, with 9.83% and 9.28% respectively.

Regarding investment opportunities in the power battery industry, Xie Logistics said that in terms of sodium-ion batteries, although sodium-ion batteries have greater advantages over lithium-ion batteries in terms of energy density and power density, as lithium carbonate prices continue to fall, sodium The cost performance of ion batteries may be affected. However, with the continuous development of sodium-ion battery technology and the gradual reduction of production costs, it is still expected to occupy a certain share in the future market. However, the investment value still requires further release of downstream car sales, which will benefit upstream raw material companies.

Liu Wenting, a wealth researcher at PaiPai.com, told the "Securities Daily" reporter that the recent decline in the price of lithium carbonate will help improve the profits of downstream companies on the one hand, and help stimulate the growth of demand for lithium-ion batteries on the other hand, which is beneficial to lithium-ion battery companies. profit.

He Li said that from an investment point of view, an integrated lithium mining company that owns core lithium resources upstream and expands downstream has high investment value. Stable profitability. In terms of power batteries, the continuous decline in lithium prices will restore profitability, and leading companies with strong profitability and high technology manufacturing levels should be selected.