GETTING BATTERY-ED ABOUT—Lithium-Ion Batteries Are Dominant in China Vehicles & Now At Tesla; Safety, Longevity, & Cost Makes LFP Batteries More Attainable;

EV Battery Power

SITUATION

In 2022, half of vehicles produced globally were built with lithium iron phosphate (LFP) batteries
Why? –Less energy-dense—than the common EV battery chemistries today.

SOLUTIONS
Increasingly popular lithium-ion battery chemistry tends to be safer & less expensive—
LFP became the dominant chemistry for batteries produced for Chinese EVs
Made out of iron & phosphorus, both of which are more abundant & less expensive
LFP battery packs can cost less than $90 per kw
Well below the average cost of NMC & NCA batteries, which have hovered around $130 per kWh.
Beyond cost, LFP provides other important advantages, such as safety and longevity.
But the trade-offs include lower energy density, meaning lower range, which had so far limited its use in EVs.

SEZ:

“When [Elon] Musk—I think maybe two years ago—started talking about iron phosphate, we didn’t believe it. And now I do,”
—Jeff Chamberlain, CEO of investment firm Volta Energy Technologies, “It’s coming, and it’s coming strong”

SOURCE:

https://en.wikipedia.org/wiki/Lithium-ion_battery

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