“Contemporary Amperex Technology Co. Ltd. said it signed a three-year deal to provide sodium-ion batteries to Beijing HyperStrong Technology Co., a domestic manufacturer of power equipment. CATL did not disclose the value of the agreement but said in a statement it would amount to 60 gigawatt-hours, and mark the battery giant’s first strategic partnership in sodium-based technology…

CATL, which has added more than 300 staff and invested almost 10 billion yuan ($1.5 billion) in sodium-ion research and development in the past decade, has described the segment as ‘alternative risk management,’ offering a hedge against wild swings in lithium prices.”

From Bloomberg.