How sodium-ion technology will compete with lithium-ion batteries

Sodium-ion batteries have a similar design to their lithium-ion counterparts and can be manufactured using related methods. Sodium-ion batteries can't provide the type of range for electric vehicles offered by lithium-ion batteries, but they do present some unique advantages. For instance, the materials used in sodium-ion batteries tend to be cheaper than those in lithium batteries. CNBC spoke to two such companies, Natron Energy and Faradion, that are looking to commercialize the technology.