Chinese sodium-ion battery startup Jiangsu Zoolnasm Energy Technology recently announced that it has been chosen as the sodium-ion battery supplier for an international auto parts company. The program is set to run for four years, with a total purchase value of around RMB 200 million ($28.1 million) throughout its lifecycle.
The customer’s plan includes starting volume purchases in the first half of 2025, although the customer’s name has not been disclosed by Zoolnasm. The implication from the announcement is that Zoolnasm’s sodium-ion batteries will be utilized in the customer’s low-voltage battery systems rather than in vehicles.
The global market for batteries used in start-stop and EV assist applications was estimated to be about RMB 180 billion in 2023 and is projected to reach RMB 202 billion by 2025, according to the announcement. With increasing environmental regulations in major markets, there is a growing trend towards replacing lead-acid batteries in start-stop and automotive low-voltage battery solutions, which Zoolnasm aims to address.
This supply agreement marks a significant milestone in Zoolnasm’s exploration of this sector, representing the culmination of three years of program development and product validation. Founded in January 2021 and headquartered in Suzhou, Jiangsu province, Zoolnasm boasts expertise in sodium-ion battery research and development, led by scientist Zhao Jianqing, who has fifteen years of experience in the field and holds multiple patented technologies.
In March 2022, Zoolnasm secured a new round of funding exclusively from Country Garden Venture Capital, the venture capital arm of real estate giant Country Garden. Additionally, in November 2023, the company began construction on its first sodium-ion battery manufacturing base project in Guangde, Anhui province, with a planned total investment of RMB 10 billion and an annual production capacity goal of 20 GWh of sodium-ion battery cells and 10 GWh of sodium-ion battery systems.
Zoolnasm’s product portfolio, which focuses on light-duty power scenarios, has already made initial deliveries to two car companies. The company’s progress in the sodium-ion battery industry underscores its commitment to innovation and sustainability in the evolving energy storage landscape. ($1 = RMB 7.1249)
