tech
Morgan Stanley says salt is the new oil. Here's why and how to play it
Salt can become as sought-out as oil amid a boom in demand for sodium-ion batteries, according to the firm.
TL;DR
- Morgan Stanley forecasts sodium-ion batteries to reach 20% of the total battery deployment market share by 2030 and 37% by 2035.
- Sodium-ion batteries are 30% to 40% cheaper than lithium iron phosphate batteries and perform better in cold weather.
- The market for sodium-ion batteries is projected to grow to 830 GWh annually by 2030 and 2.4 TWh by 2035.
- This growth is expected to attract around $800 billion in new investments by 2035.
- Sodium is widely available and inexpensive in the U.S., and its use can facilitate domestic production.
- General Motors has an early foothold in the U.S. sodium-ion battery market through a partnership with Peak Energy.