Northvolt first company outside China to develop sodium-ion battery with 160 Wh/kg energy density

Swedish battery manufacturer Northvolt has become the first company outside China to achieve a sodium-ion battery with 160 Wh per kg of energy density, the company told Fastmarkets on Tuesday November 21

According to Fastmarkets’ research team, the energy density for Chinese battery maker Contemporary Amperex Technology’s (CATL) sodium-ion battery is 160Wh per kg and Chinese sodium-ion battery manufacturer HiNa Battery Technology’s is 145Wh per kg. This is compared with energy density of 255Wh per kg and 160Wh per kg for CATL’s latest nickelcobaltmanganese and lithium-iron-phosphate batteries (LFP).

Northvolt’s sodium-ion battery is based on a hard-carbon anode and a Prussian White-based cathode, and the Swedish battery manufacturer plans to be the first to industrialize and commercialize Prussian White-based batteries. 

“Our next step is to present these batteries to customers during 2024, and then gradually establish and scale up production throughout the following years,” Northvolt told Fastmarkets. 

The company is still in the process of finding partners to scale up this technology. 

Northvolt’s sodium-ion battery technology is primarily designed for energy storage system (ESS), with a potential application for electric vehicles in the future. 

“The low cost and safety at high temperatures make the technology especially attractive for ESS in the upcoming markets including India, the Middle East and Africa,” the company said in a statement. 

Sodium-ion batteries have a lower cost and are less reliant on critical raw materials such as nickel, cobalt and lithium, which makes sodium-ion batteries an attractive alternative to lithium-ion batteries like lithium-iron-phosphate, nickel-cobalt-manganese and nickel-cobalt-aluminum batteries. 

However, the decline in lithium chemical prices since late 2022 amid slowdown in electric vehicle growth has sparked a debate on the need for sodium-ion batteries as an alternative battery to lithium-ion batteries.

Fastmarkets’ weekly assessment of lithium carbonate 99.5% Li2CO3 min, battery grade, spot price range exw domestic China was 141,00-150,000 yuan per tonne on November 16, down from 590,000-605,000 yuan per tonne on November 17, 2022. 

Fastmarkets’ research team has forecast that the global sodium-ion battery usage for ESS is 0.1% in 2023 and will reach up to 9% by 2033. Currently, 70-80% of the battery used for ESS is LFP, with 95% of the overall batteries for ESS being lithium-ion batteries.

Keep up to date with the latest lithium prices, data and forecasts on our dedicated lithium price page.

What to read next
Read Fastmarkets' monthly battery raw materials market update for May 2025, focusing on raw materials including lithium, cobalt, nickel, graphite and more
Cobalt Holdings plans to acquire 6,000 tonnes of cobalt. Following their $230M London Stock Exchange listing, this move secures a key cobalt reserve. With the DRC’s export ban affecting prices, the decision reflects shifting industry dynamics
The recent US-China agreement to temporarily reduce tariffs is a major step for global trade, with tariffs on US goods entering China dropping from 125% to 10% and on Chinese goods entering the US decreasing from 145% to 30% starting May 14. While this has boosted markets and created optimism, key industries like autos and steel remain affected, leaving businesses waiting for clearer long-term trade policies.
The US-China trade truce announced on May 12 has brought cautious optimism to China’s non-ferrous metals markets, signaling a possible shift in global trade. Starting May 14, the removal of additional tariffs has impacted sectors like battery raw materials, minor metals and base metals such as zinc and nickel, with mixed reactions. While the improved sentiment has lifted futures prices and trade activity, the long-term effects remain unclear due to challenges like supply-demand pressures and export controls.
Brazil is expected to become a reference in low-cost hard-rock lithium production and an investment hub for foreign companies. But some internal challenges remain for the country, such as funding and legal uncertainties, market participants told Fastmarkets.
Fastmarkets has partnered with the Intercontinental Exchange (ICE) to launch a series of cash-settled lithium, spodumene and cobalt futures contracts that will be settled against Fastmarkets assessments.