Technology

Sodium to Debut in Small Microcars First for Mobility Applications, Reports IDTechEx

Published

11 months ago

February 12, 2024

CAMBRIDGE, England, Feb. 12, 2024 /PRNewswire/ —

Sodium to Debut in Small Microcars First for Mobility Applications, Reports IDTechEx

Author: Shazan Siddiqi, Senior Technology Analyst at IDTechEx

Many people were surprised when HiNa revealed their lineup of sodium-ion battery cells, as well as a prototype of an electric car, in February 2023. But it had been a long time coming. The low-cost Sehol E10X microcar uses a 25 kWh battery pack made from cylindrical sodium-ion cells from HiNa. The business commissioned its first 1 GWh/year production line in December 2022. The complex will host five such lines; another for 30 GWh/year is planned, and more batteries will be manufactured under license.

Plenty of competition, like CATL, Svolt, Farasis, Lifun, DFD, Transimage, and others are currently working on their own sodium-ion batteries to be mass-produced this year. Market analysis by IDTechEx in November 2023 suggests an anticipated growth of approximately 40 GWh of SIBs alone by 2030 at a minimum, but up to an additional 100 GWh of manufacturing capacity is projected if the market is successful by 2025. The scene is set for another upset in the battery industry in the coming years, similar to the large-scale emergence of LFP in 2020.

IDTechEx anticipates that sodium-ion batteries will first penetrate the A00 vehicle segment (small, low-speed EVs) in China as they are mostly used as urban commuters and do not require an extended range. The energy density of A00 class vehicles in production is mainly concentrated between 140 and 160 Wh/kg (pack level), and the cruising range is typically under 250 km, according to IDTechEx research. Current sodium-ion batteries can largely meet these requirements, as shown in the IDTechEx report “Sodium-ion Batteries 2024-2034: Technology, Players, Markets, and Forecasts“, which benchmarks cells from various players in the market.

Very recently, a race has emerged in China to be the first to use sodium-ion cells in high-volume electric microcars, with Farasis, HiNa, and CATL announcing plans to supply sodium-ion cells to JMEV, Sehol, and Chery for use in their A00 class models respectively. A00 electric vehicle manufacturers are highly sensitive to costs, and the application of sodium-ion batteries has certain advantages. In the long run, when sodium-ion batteries can be manufactured at scale, they are expected to have a 20-30% price advantage over Li-ion batteries.

While LFP batteries have improved since 2015, what has improved even more is the engineering of battery packs. The Sehol E10X’s battery pack is air-cooled, using racks of cylindrical cells, retaining an energy density of 120 Wh/kg on the pack level. In terms of weight, this is 96% of the 125 Wh/kg energy density of the 54 kWh LFP pack in the standard range Tesla Model 3 first announced in 2020. But in terms of volume, this air-cooled pack would not be competitive. Nor do the prismatic cells from HiNa with their volumetric energy density of 263-283 Wh/L seem to be a useful replacement for LFP cells with 380-450 Wh/L at first glance. However, the engineering of cell-to-pack (CTP) battery packs has improved immensely even in the few years since they were first talked about in 2019.

CATL announced their sodium-ion batteries in 2021 alongside a prospected integration efficiency of over 80%. Such packs make even first-generation sodium-ion batteries viable as a direct replacement for older generations of cars with LFP battery packs of the early 2020s. Even based on performance, the sodium-based battery would be preferable to cars with older LFP packs. They can fast charge from 10% to 80% within 15 to 20 minutes and only lose 10% of capacity at -20°C. Sodium-ion batteries can also be fully discharged without the risk of catastrophic battery failure upon recharge, as would be the case in lithium-ion batteries due to copper current collectors in the anode.

CATL expects to sell their batteries with Prussian blue cathodes for as little as US$30/kWh to US$45/kWh in mass production due to the lower material cost of iron-based cathode and synthesis without the need for high-temperature calcination. Cells with more advanced layered oxide cathodes are widely expected to reach 200-220 Wh/kg and between 400-500 Wh/l in the next few years before the end of the decade. This will enable EVs to reach over 500 km range without the use of lithium. This will fundamentally change the battery market. However, the energy density of high nickel NMC cathodes is 20-40% higher than any known sodium-based cathodes that might be commercialized.

But this will not make sodium-ion batteries redundant. Cost matters more than energy density. It is important to remember that to this day, there is a 400 GWh/year industry for lead-acid batteries despite their low energy density of just 35 Wh/kg. Sodium-ion batteries, based only on abundant materials like sodium, iron, manganese, carbon, aluminum, and the like, are sufficient for EVs with a practical range of around 300 km — even in their current primitive form. With no constraints on critical resources, this should help alleviate many geopolitical tensions currently building up around access to battery materials like lithium, nickel, cobalt, and graphite. The IDTechEx report “Sodium-ion Batteries 2024-2034: Technology, Players, Markets, and Forecasts” provides in-depth coverage of this emerging industry.

To find out more about this IDTechEx report, including downloadable sample pages, please visit www.IDTechEx.com/Sodium.

About IDTechEx

IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, contact research@IDTechEx.com or visit www.IDTechEx.com.

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Technology

XTransfer and OCBC Jointly Announce Comprehensive Partnership

Published

47 minutes ago

December 23, 2024

“Global Multi-Currency Accounts” Empowers SMEs with New Market Opportunities

SHANGHAI, Dec. 23, 2024 /PRNewswire/ — XTransfer, the World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, and OCBC, the second largest financial services group in Southeast Asia, jointly announced the comprehensive partnership. OCBC China will leverage the OCBC Group’s extensive regional network and resources in its key markets of Singapore, Hong Kong SAR, Malaysia and Indonesia to collaborate with XTransfer to provide small and medium-sized enterprises (SMEs) engaging in international trade with one-stop innovative cross-border financial solutions, including payment, FX, risk control and wealth management. The Memorandum of Understanding was signed on 18 December 2024 by Bill Deng, Founder and CEO of XTransfer, and Ang Eng Siong, CEO of OCBC China.

Bill Deng, Founder and CEO of XTransfer, stated, “This collaboration marks a significant milestone for XTransfer, greatly enhancing our global payment capabilities. By leveraging OCBC’s extensive global payment network, XTransfer saves a substantial amount of market costs and accelerates our business expansion in Southeast Asia, saving on local expansion efforts. XTransfer looks forward to expanding its business with OCBC in the future in a variety of areas, including wealth management and lending, and is looking forward to working with them to capture the vast opportunities in Greater China and ASEAN.”

Ang Eng Siong, CEO of OCBC China, said, “OCBC uses Singapore and Hong Kong as our twin-hubs, radiating out to Greater China and ASEAN regions. XTransfer’s business development plans in these areas align closely with our network layout. As XTransfer’s global account manager, OCBC China will support XTransfer and its clients in facilitating cross-border settlements through close collaboration with various business subsidiaries of the group. This will help meet the growing demand for cross-border development and business growth, helping them achieve their aspirations in Greater China and ASEAN.”

XTransfer and OCBC collaborate in several areas of cross-border business. In particular, XTransfer leverages the strong banking networks and service capabilities of OCBC to offer its customers the “Global Multi-Currency Account” provided by OCBC Hong Kong, allowing clients to make payments and collect funds globally. The Global Multi-Currency Account supports not only major currencies, such as the Renminbi, US Dollar, British Pound, Euro, etc., but also currencies from ASEAN and various countries and regions. This will benefit SMEs in foreign trade settlement in the corresponding countries and enhance global cross-border trade efficiency. The partnership will provide XTransfer’s over 550,000 clients and their buyers with more payment and collection options. Additionally, clients can make payments and collect funds through CHATS or FPS, the local clearing network in Hong Kong, offering convenience similar to local bank transfers.

In recent years, trade exchanges between China and ASEAN have become increasingly close. According to data from XTransfer, from January to September 2024, the amount received by small and medium-sized foreign trade enterprises on the XTransfer platform from ASEAN grew by 80% compared to the previous year. The partnership between XTransfer and OCBC will address this growth in international trade by SMEs, and help them capture opportunities in trade and capital flow between China and ASEAN.

XTransfer continues to build its global payment infrastructure for foreign trade through partnerships with renowned international banks and financial institutions. This partnership with OCBC brings XTransfer a new upgrade in its global payment infrastructure, offering substantial benefits to global cross-border traders. By utilising the Global Multi-Currency Account provided by OCBC Hong Kong, buyers can easily make payments in various currencies to overseas suppliers and collect funds from worldwide customers. This partnership is expected to enhance cross-border trade by significantly broadening the payment methods and scope for SMEs.

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SOURCE XTransfer

Technology

TECHTRONIC INDUSTRIES JOINS THE UN GLOBAL COMPACT

Published

47 minutes ago

December 23, 2024

DEMONSTRATES TTI’S COMMITMENT TO SUSTAINABLE PRODUCTS AND PRACTICES

FORT LAUDERDALE, Fla., Dec. 23, 2024 /PRNewswire/ — Global cordless power tool, outdoor power equipment and floorcare company Techtronic Industries Co. Ltd. (“TTI” or the “Company”) (stock code: HK:0669, ADR symbol: TTNDY) today announced that it has joined the United Nations Global Compact, reaffirming its dedication to sustainability and social responsibility. With over 25,000 signatories in over 160 countries, the UN Global Compact is the world’s largest voluntary corporate sustainability reporting initiative. By joining, TTI is committing to communicating its progress to stakeholders annually through our ESG Report and UN Global Compact’s website.

TTI’s CEO Steve Richman remarked: “As the industry pioneer in lithium-ion battery-powered, energy efficient power tools and outdoor power equipment, TTI’s commitment to sustainable products and business practices has long been a fundamental part of the way we do business. We began publishing ESG reports in 2015 and we aligned our goals and targets with the UN Sustainable Development Goals in 2018. Every year we make progress in areas including safety solutions, noise reduction, supply chain traceability, decarbonization, and governance. While we have demonstrated our commitment, by joining the UN Global Compact, we have officially aligned our sustainability strategy with the Ten Principles in the areas of human rights, labor, environment, and anti-corruption.”

As part of TTI’s ongoing sustainability efforts, our objective is to implement initiatives that deepen our support of the UN’s Sustainable Development Goals (SDGs) while fostering an inclusive and equitable workplace culture. We are dedicated to advancing our sustainability journey, setting measurable goals, and continuously monitoring our progress.

Learn more about TTI’s efforts by reading our latest ESG publications here. Our 2024 ESG report will be published in March 2025.

About TTI

Techtronic Industries Company Limited (“TTI” or the “Company”), founded in 1985 by German entrepreneur Horst Julius Pudwill, is a world leader in cordless technology. As a pioneer in Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products, TTI serves professional, industrial, Do It Yourself (DIY), and consumer markets worldwide. With more than 50,000 employees globally, the company’s relentless focus on innovation and strategic growth has established its leading position in the industries it serves.

MILWAUKEE is at the forefront of TTI’s professional tool portfolio. With global research and development headquartered in Brookfield, Wisconsin, the historic MILWAUKEE brand is renowned for driving innovation, safety, and jobsite productivity worldwide. The RYOBI brand, headquartered in Greenville, South Carolina, remains the top choice for DIYers and continues to set the standard in DIY tool innovation. TTI’s diverse brand portfolio also includes trusted brands like AEG, EMPIRE, HOMELITE, and leading floorcare names HOOVER, ORECK, VAX, and DIRT DEVIL (based in Charlotte, North Carolina).

TTI’s international recognition and renowned brand portfolio are supported by a strong ownership structure that underscores the company’s global reach and stability. The Pudwill family remains the company’s largest shareholder, with the remaining ownership held largely by institutional investors at North American and European-owned firms. TTI is publicly traded on the Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index, operating globally with a strong commitment to environmental, social, and corporate governance standards. For more information, visit www.ttigroup.com.

All trademarks listed other than AEG and RYOBI are owned by the Company. AEG is a registered trademark of AB Electrolux (publ.) and is used under license. RYOBI is a registered trademark of Ryobi Limited and is used under license.

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SOURCE Techtronic Industries Co. Ltd.

Technology

New 2025 ezPaycheck Paycheck Payroll Software Is Now Available from Halfpricesoft.com

Published

47 minutes ago

December 23, 2024

REDMOND, Wash., Dec. 23, 2024 /PRNewswire/ — Halfpricesoft.com has just announced the release of 2025 ezPaycheck payroll software for support for small businesses, freelancers, and sole proprietors as well as many other clients. The new ezPaycheck includes 940, 941, W2 and W3 forms and 2025 tax tables.

Clients can still acquire the 2024-2025 bundle version at a cost reduction for a limited time. For those utilizing the 2024 ezPaycheck please note:

Do NOT install this new version before you complete 2024 paychecks. ezPaycheck 2025 installation will update the tax tables. With ezPaycheck 2025, you can still access your 2024 paychecks, view reports and print 2024 W2 forms.

Dr. Ge stated, “The software, ezPaycheck 2024 and 2025 is still available for purchase to those clients that need to process year-end tax forms.”

Priced at just $169 per installation for a single installation of 2025 ezPaycheck software. The bundle 2024-2025 version is $199 for a limited time. ezPaycheck payroll software is affordable for any business. With paycheck software, business owners can easily calculate taxes, deductions, and other payroll-related tasks. Potential clients are welcome to download ezPaycheck free demo version with no obligation and no risk at halfpricesoft.com

Despite its cost and ease of use, Accountants, CPA and Tax Professionals should not assume ezPaycheck 2024 runs short on features. ezPaycheck 2025 is packed with all the features a business needs to run payroll quickly and easily, including:

Supports daily, weekly, biweekly, semimonthly and monthly payroll periods. Features report functions, print functions, and pay stub functions.Automatically calculates Federal Withholding Tax, Social Security, Medicare Tax and Employer Unemployment Taxes.Includes built-in tax tables for all 50 states and the District of ColumbiaEasily calculates differential payPrints miscellaneous checks as well as payroll calculation checksPrints payroll checks on blank computer checks or preprinted checksCreates and maintains payroll for multiple companies, and does it simultaneouslyPrints Tax Forms NEW 943 Form, 940, 941, W2, and W3 (Copy A preprinted form required)Supports multiple accounts at no additional chargeSupports network access to share data from different computers and locations (additional cost)30 day no cost trial. No registration required and absolutely no obligation

ezPaycheck is compatible with Windows 11, 10, 8, 7, and other Windows systems. We also sell a MAC version separately.

ezPaycheck payroll software is affordable for any size business. Customers seeking a way to simplify payroll processing with more accuracy to start the no-obligation 30-day test at https://www.halfpricesoft.com/index.asp

About halfpricesoft.com

Halfpricesoft.com is a leading provider of small business software, including online and desktop payroll software, online employee attendance tracking software, accounting software, in-house business and personal check printing software, W2, software, 1099 software, accounting software, 1095 form software, and ezACH direct deposit software. Software from halfpricesoft.com is trusted by thousands of customers and will help US Business owners simplify payroll processing and streamline business management.

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SOURCE Halfpricesoft.com