In a pioneering step for the EV industry, mass production of the JAC Yiwei EV, the first electric vehicle in the world to be powered by a sodium-ion battery, has commenced in China.
What Happened: According to a report from Car News China, the JAC Yiwei EV is backed by Anhui Jianghuai Automobile (JAC) and the Volkswagen Group (OTC:VWAGY) and is expected to begin delivering vehicles in January 2024. The Yiwei EV is powered by a cylindrical sodium-ion pack from Beijing-based HiNa Battery and utilizes JAC's UE (Unitized Encapsulation) module technology.
JAC, 50% owned by the state and the Volkswagen Group, established Yiwei as a new EV brand in 2023. Volkswagen’s significant investment in China’s state-owned carmaker in 2020 sparked controversy among VW’s JV partners, SAIC and FAW.
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In 2023, Volkswagen invested $700 million in Chinese EV maker Xpeng, gaining nearly a 5% stake and access to the E/E Edward platform. JAC, previously a contract manufacturer for Nio cars, announced in February 2023 that it was the first automaker to implement a lithium-free sodium-ion battery in an electric vehicle.
Yiwei’s chairman, Xia Shunli, stated that sodium-ion batteries will play a critical role in the future, supplementing LFP batteries and offering a cost-effective solution that will promote the widespread adoption of electric vehicles.
Why It Matters: The surge in China's EV sector has been noted as "absolutely booming," despite broader economic challenges. The nation is making significant progress towards a more robust and sustainable economy, including a strategic shift to sectors like renewable power technologies and electric vehicles.
The founder of the Italian high-performance vehicle maker Pagani Automobili SpA, Horacio Pagani, suggested that European car manufacturers could learn valuable lessons from China's advancements in the EV industry.
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