CATL’s long range sodium-ion batteries are here
Business briefs from the Chinese media — Tuesday November 29
Stocks in Hong Kong and mainland China rallied yesterday led by property developers after the China Securities Regulatory Commission lifted a six-year ban on equity financing. The Hang Seng Index jumped 5.24%, the biggest increase since November 15, and the Shanghai Composite Index was up by 2.31%.
CATL’s long range sodium-ion batteries are here: Earlier today, an executive of battery manufacturer CATL 宁德时代 stated that the company’s new high density sodium-ion batteries with a range of 500 km (310 miles) will be fitted in passenger vehicles this year.
• Earlier on The China Project: The sodium battery era is coming soon (September 20, 2022); CATL’s new battery is a leap forward but also a precursor of something radical to come (June 28, 2022).
Healthy profits for Alibaba Health: Yesterday, Alibaba Health 阿里健康 reported revenue for first two quarters of 11.50 billion yuan ($1.60 billion) a year-on-year increase of 22.9%, and net profit of 160 million yuan ($22.29 million). As of September 30, the company’s online platform had 120 million active users, an increase of more than 30 million year-on-year.
A lot of glass for solar energy: According to the Ministry of Industry and Information Technology, from January to October 2022, total national photovoltaic (PV) rolled glass production capacity increased by 70.5% year-on-year. As of the end of October, there were 39 PV rolled glass production enterprises, 120 kilns, and 402 production lines with a capacity of 76,000 tons per day.
Luxury electric car brand Avatr to be spun off: Yesterday, Chang’an Automobile 长安汽车集团 announced that Avatr 阿维塔, the company’s luxury electric vehicle joint venture with CATL 宁德时代 and Huawei 华为, will be listed independently at an unspecified future date.
