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 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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