The rapid growth of the electric vehicle (EV) industry necessitates advancements in battery technology to enhance performance, cost-effectiveness, and environmental sustainability.

This study conducts a comprehensive cost analysis comparing sodium-ion batteries (SIBs) and lithium-ion batteries (LIBs) for EV applications, focusing on a representative battery pack configuration based on the BMW i3.

The analysis highlights the potential of SIBs, which utilize abundant and low-cost materials, such as sodium and iron, to mitigate the challenges associated with resource scarcity and high costs prevalent in LIBs. Through a detailed breakdown of material costs, manufacturing expenses, and operational considerations, the findings indicate that SIBs can achieve approximately 23% lower costs per kilowatt-hour compared to LIBs, primarily due to reduced raw material prices and simpler manufacturing processes. Additionally, the study addresses the safety, environmental impact, and lifecycle assessment of SIBs, underscoring their advantages in thermal stability and sustainability.

The results suggest that sodium-ion technology is a promising alternative for cost-sensitive and environmentally conscious EV applications, potentially complementing lithium-ion solutions in the evolving landscape of energy storage.