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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":701,"relatedVideos":702},112468931900359,"460a5c0d-6108-4fca-9ffb-c8a938e0a14b","Lack of Tier 1 experience could risk sodium ion battery production ramp up","lack-of-tier-1-experience-risks-sodium-ion-battery-production-ramp-up","article/lack-of-tier-1-experience-risks-sodium-ion-battery-production-ramp-up",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":677,"featured":51,"reporter":678,"_editable":682,"component":683,"seo_title":543,"categories":684,"visibility":691,"author_company":49,"data_vis_image":692,"featured_image":696,"seo_description":677,"author_full_name":49,"author_job_title":49,"formattedDate":699,"formattedArticleDate":700},"49288340-7707-44d6-8568-77ddeb23afb2","2024-09-19 00:00",[550,553,556],{"slug":551,"name":552},"data-visualisation","Data Visualisation",{"slug":554,"name":555},"sodium-ion-2","Sodium ion",{"slug":557,"name":558},"sodium-ion-batteries","Sodium Ion Batteries",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":570,"content":571},"doc",[572,589,601,606,611,616,621,626,633,638,647,652,657,662,667,672],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576,579,587],{"text":577,"type":578},"A lack of established manufacturers threaten the security of sodium ion battery supply,  according to Benchmark’s ","text",{"text":580,"type":578,"marks":581},"Sodium ion Battery Forecast",[582],{"type":583,"attrs":584},"link",{"href":585,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://www.benchmarkminerals.com/sodium-ion-batteries/portal/","url",{"text":588,"type":578},". ",{"type":573,"attrs":590,"content":591},{"textAlign":49},[592,594,599],{"text":593,"type":578},"Currently, there are only three Tier 1 manufacturers: BYD, CATL, and Farasis Energy. All three also manufacture lithium ion batteries. In contrast, there are 43 Tier 2 and 3 manufacturers, ",{"text":595,"type":578,"marks":596},"Benchmark data",[597],{"type":583,"attrs":598},{"href":585,"uuid":49,"anchor":49,"target":49,"linktype":586},{"text":600,"type":578}," shows.",{"type":573,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":578},"“While the pipeline capacity for sodium ion batteries is strong, much of the forecast supply originates from Tier 2 and 3 manufacturers, indicating that the realised supply will be much lower than the announced capacity,” said Catherine Peake, an analyst at Benchmark.",{"type":573,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":578},"The Tier status of a producer is a reflection of its manufacturing maturity and Benchmark’s confidence in its pipeline capacity becoming realised supply. Only Tier 1 manufacturers are qualified to supply cells to electric vehicle (EV) manufacturers.",{"type":573,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":578},"Tier 2 producers may have several years of experience in manufacturing sodium ion battery cells, cathodes, or anodes and partnerships with OEMs whilst Tier 3 producers are likely new market entrants.",{"type":573,"attrs":617,"content":618},{"textAlign":49},[619],{"text":620,"type":578},"The dependence on lower Tier producers is a concern for automakers and ESS developers interested in using the technology as these manufacturers are less experienced. ",{"type":573,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":578},"“We expect ramp up of production and efficiency of manufacturing to be lower for Tier 2 and 3 producers compared to Tier 1 producers. The chance of projects falling through is also higher for less established producers. For this reason, despite the ambitious capacity announcements, the realised supply will be significantly lower,” said Catherine Peake, an analyst at Benchmark.",{"type":627,"attrs":628,"content":630},"heading",{"level":629,"textAlign":49},4,[631],{"text":632,"type":578},"Lower Tiers reduce confidence in supply",{"type":573,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":578},"The complexity of establishing new cell manufacturing capability, coupled with the low price of lithium iron phosphate (LFP) cells, makes for a challenging environment for new market entrants in the sodium ion battery sector.",{"type":573,"attrs":639,"content":640},{"textAlign":49},[641],{"type":642,"attrs":643},"image",{"id":49,"alt":644,"src":645,"title":49,"source":49,"copyright":49,"meta_data":646},"","https://a.storyblok.com/f/287943243085208/380256b301/bm-sodium-ion-battery-supply-stacked-column-chart-1.png",{},{"type":573,"attrs":648,"content":649},{"textAlign":49},[650],{"text":651,"type":578},"Tier 1 supply is forecast to increase more than 11-fold between 2024 and 2030, however as a share of total production it remains around 21%. ",{"type":573,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":578},"However, the majority of supply, both historically and forecast to 2040, comes from Tier 2 producers, with supply from Tier 3 producers increasing proportionately with total announced supply.",{"type":627,"attrs":658,"content":659},{"level":629,"textAlign":49},[660],{"text":661,"type":578},"Demand grows faster than supply",{"type":573,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":578},"Year-on-year demand for sodium ion batteries is forecast to almost triple in 2024, and more than double in 2025 and again in 2026. Supply is expected to increase similarly up to 2030, though there is minimal ramp up forecast beyond the end of the decade. ",{"type":573,"attrs":668,"content":669},{"textAlign":49},[670],{"text":671,"type":578},"“The Western ESS market will likely remain reliant on sourcing cells from Tier 2 and 3 manufacturers, as they make up the majority of supply,” said Peake.",{"type":573,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":578},"This dependence on Tier 2 and 3 producers holds across cathode and anode supply, further reducing confidence in the security of supply.","A lack of established manufacturers threaten the security of sodium ion battery supply, according to Benchmark’s Sodium ion Battery Forecast. Currently, there are only three Tier 1 manufacturers: BYD, CATL, and Farasis Energy. All three also manufacture lithium ion batteries. In contrast, there are 43 Tier 2 and 3 manufacturers, Benchmark data shows. “While the […]",[679],{"slug":561,"name":562,"content":680},{"job_title":564,"image":681,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"49288340-7707-44d6-8568-77ddeb23afb2\", \"id\": \"\"}-->","article",[685,688],{"slug":686,"name":687},"batteries","Batteries",{"slug":689,"name":690},"battery-technology","Battery Technology","private",{"id":49,"alt":693,"name":644,"focus":644,"title":693,"source":644,"filename":645,"copyright":644,"fieldtype":694,"meta_data":695,"is_external_url":51},"Stacked column chart showing Sodium ion battery supply in 2024, 2027, and 2030 broken down by Tier. Total production increases more than tenfold as market share of each Tier scales","asset",{"alt":693,"title":693,"source":644,"copyright":644},{"id":49,"alt":644,"name":644,"focus":644,"title":644,"source":644,"filename":697,"copyright":644,"fieldtype":694,"meta_data":698,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/3340a3ef59/bm-batteryfuture.jpg",{"alt":644,"title":644,"source":644,"copyright":644},"Sep 19, 2024","19th September 2024",[],[],1782119843555]