According tomedia reports, the cost competitiveness, safety and low sensitivity to commodity price dynamics for lithium iron phosphate batteries have made them increasingly popular in China’s electric vehicle market. BYD, China’s largest maker of new energy vehicles, says its new SUV will use its latest cobalt-free battery in the middle of this year.
The company said in a statement that its latest SUV, BYDHan, will use a lithium iron phosphate battery that can travel more than 600 kilometers per charge, equivalent to the range of nickel-cobalt batteries.
“This is only because lithium iron phosphate batteries provide the best market value,” said Gao Gao, vice president of Beida Advance Technology Industry Co., Ltd., a Chinese manufacturer of battery-positive materials. “Furthermore, cost competitiveness is much better. “
Iron phosphate batteries are reported to be 20% cheaper than nickel batteries. The chemical mixture of lithium iron phosphate is cheaper because of its simple synthesis and low cost of using materials. Other batteries that use materials such as nickel, manganese, aluminum and cobalt are more complex, and the metals used are more volatile.
The recovery of lithium iron phosphate batteries in the top electric vehicle markets also shows that battery technology and consumer concerns are far from being addressed as governments and global automakers struggle to move forward on the path to global automotive electrification.
Nickel-cobalt batteries are popular because of their long range of range for a single charge, thus addressing the “mileage anxiety” consumers can turn to for electric vehicles. New battery pack designs developed by such as Ningde and BYD could increase the range of electric vehicles using lithium iron phosphate batteries, thus increasing the competitiveness of lithium iron phosphate batteries and nickel-cobalt batteries.
“For people in big cities like Beijing and Shanghai, 150 km is enough, ” says Gao Gao of Peking University’s pioneering technology. “
Still, interest in re-igniting lithium iron phosphate batteries may not last. According to Morgan Stanley, the medium-term demand for lithium iron phosphate batteries will rise, but as nickel-cobalt batteries become more advanced, lithium iron phosphate batteries will eventually be replaced, and the cost of nickel-cobalt batteries is expected to fall by 20 per cent over the next three years.
Reuters reported earlier this month that Tesla is in advanced talks with Ninder Times about the supply of lithium iron phosphate batteries in an effort to cut costs. Tesla declined to comment, while a spokesman for The Ninder era said: “We are able to offer our customers the right and competitive solution.” “
“Since last autumn, we’ve seen a rebound in market-driven interest in lithium iron phosphate batteries, ” Says Mr Highland. “