Lithium-Ion is the preferred battery technology that powers most of the electric vehicles (EV). Given the demand supply gap alternate options are being explored by various startups and automobile makers.
Reliance New Energy Solar is all set to Acquire Faradion Limited. Faradion is a leading global sodium-ion battery technology company, based out of UK.
Sodium-Ion is one such option, which looks promising. It’s less expensive than the current lithium-ion battery, since it’s more available than Lithium. It can be extracted from salt.
Sodium and Lithium share a lot of similarities, being next to each other in the periodic table.
Lithium-Ion batteries also need Cobalt, which is expensive and not easy to obtain. While Na-Ion uses Iron and Manganese, which are cheaper.
The only downside of Na-Ion is it’s less dense compared to Li-Ion.