Eureka– we have a battery that really works;
Half of vehicles produced globally were built with lithium iron phosphate (LFP) batteries;
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;
Trade-offs include lower energy density, meaning lower range,
Had so far limited its use in EVs.
First was to produce an EV Battery with performance
Then cost reduction and supply.