Huawei Deepens Bet on Batteries With Investment in Lithium-Ion Alternative

Huawei has invested in a sodium-ion battery maker as the tech giant increases bet on China’s booming electric vehicle industry which has seen a wave of price hikes on rising raw material costs since March. Photo: IC Photo

Embattled telecoms equipment manufacturer Huawei Technologies Co. Ltd. has deepened its push into the growing energy storage industry, investing in a Chinese battery startup that uses a more accessible alternative to rare and expensive lithium.

The investment in HiNa Battery Technology Co. Ltd., a Jiangsu province-based company that develops sodium-ion batteries for electric vehicles (EVs) and industrial energy storage, was made through Huawei’s venture capital arm Shenzhen Hubble Technology Investment Partnership, according to public business records.