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Lithium iron phosphate continues to be highly sought after

The data also shows that in terms of installed capacity, the installed capacity of ternary batteries and lithium iron phosphate batteries is 5.4GWh and 3.3GWh, respectively, with a year-on-year increase of 241.9% and 349.8%.

It is not difficult to find from this data that lithium iron phosphate batteries continue to be highly sought after.

The Ministry of Industry and Information Technology disclosed that there are a total of 37 passenger car models in the first batch of promotion and application catalogs in 2021, including 29 pure electric models and 8 plug-in hybrid models. Among them, 19 are equipped with ternary batteries, accounting for 51.4%, and 18 are equipped with lithium iron phosphate batteries, accounting for 48.6%. There are a total of 115 promoted models, of which 85 are equipped with lithium iron phosphate batteries, accounting for 73.9%.

Nowadays, most mainstream products of enterprises will choose to use lithium iron phosphate as the standard entry-level model configuration. "Wang Xianbin, a researcher at Gaishi Automotive Research Institute, told Securities Daily that Tesla is like this, and more companies will do the same in the future, with low costs and high safety.

Zhao Chao also told Securities Daily that lithium iron phosphate has good cycling performance, reaching around 3500 to 4000 cycles, while ternary lithium iron phosphate can reach around 1500 to 2000 cycles, with a long service life. In addition, with the continuous improvement of lithium iron energy density, the advantages are even more obvious. The main reason for the significant increase in raw materials such as cobalt, lithium, and nickel for ternary lithium batteries, especially in the context of declining subsidies, is that car companies are switching to lithium iron phosphate to reduce costs and increase efficiency. At the same time, driven by 5G and commercial storage, the Chinese energy storage market is also constantly developing, which has also drawn a new blueprint for lithium iron phosphate.

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