China's Battery Giant Bets Big on Sodium as Lithium Volatility Persists

AI Summary

China's battery manufacturer CATL is shifting focus from electric vehicles to energy storage amid ongoing lithium market volatility. This strategic pivot is partly driven by increased demand in energy systems fueled by the artificial intelligence boom.

The world’s largest battery maker is taking a step back from the eclectic vehicles sector to refocus its efforts on energy storage. China’s Contemporary Amperex Technology Co. Ltd. (better known as CATL) has been building up its energy storage portfolio for years now, but the company’s transition away from EVs and toward energy systems has been supercharged by the artificial intelligence boom. Five years ago, just 2 percent of CATL’S sales came from battery storage. Today, storage accounts for a full quarter of the megacompany’s…