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BYD debuted at the 14th SNEC Exhibition in August 2020 with its new grid level energy storage product BYDCube, and won the "TWA Diamond Award" among the top ten highlights of SNEC.

After successfully winning the bid for China Mobile's 2020 centralized procurement project for lithium iron phosphate batteries, Yiwei Lithium Energy stated that it is cooperating with multiple domestic communication equipment manufacturers, will continue to increase its supply share, and has achieved results in exploring overseas energy storage fields.

In addition, Paineng Technology, Ruipu Energy, Xinwangda, Dongying Kunyu Power Supply, Shangqi Guoxuan, Xiamen Haichen, as well as Shuangdeng Group, Nandu Power Supply, Penghui Energy, Zhongtian Technology, Shengyang Power Supply, Haisida Power Supply, Nandu Power Supply, Xiongtao Power Supply, Ha Guangyu, Lilang Battery, and other companies that have previously won the bid for 5G base station lithium iron phosphate battery projects, continue to contribute to the supply end of energy storage batteries!

Lithium iron phosphate batteries in short supply

The energy storage market is a potential market for lithium iron phosphate batteries, and data shows that over 94% of the energy storage industry currently uses lithium iron phosphate batteries. Due to its outstanding safety performance and low cost, the application scenarios of lithium iron phosphate batteries are becoming increasingly widespread.

In the field of new energy vehicles, according to industry data statistics, the proportion of iron phosphate lithium-ion battery shipments to the total power lithium battery shipments has rebounded from 28% in 2019 to 35% -40% in 2020.

Especially in the field of heavy-duty trucks, the Ministry of Industry and Information Technology has released the latest batch of "Notice on Road Motor Vehicle Production Companies and Products". 16 heavy-duty trucks have appeared in the field of new energy logistics vehicles, of which 10 are clearly equipped with lithium iron phosphate batteries.

In the field of electric ships, currently, all electric ships laid out by Yiwei Lithium Energy, Ningde Times, and Guoxuan High tech are equipped with lithium iron phosphate batteries without exception.

Due to the huge market demand, it is reported that lithium iron phosphate materials are not only experiencing price increases, but also experiencing shortages in inventory and difficulty in obtaining first order goods. Additionally, there are also signs of price increases in lithium iron phosphate battery products. According to media reports, "Currently, the comprehensive cost of lithium iron phosphate batteries has increased by about 50% compared to last year, while the cost of ternary batteries has increased slightly during the same period. The cost advantage of lithium iron phosphate batteries over ternary batteries is shrinking

Write at the end

Another round of procurement by China Mobile may open up a new round of competition among lithium iron phosphate battery companies.

The competition of lithium iron phosphate batteries is a competition for market share, product quality, and cost.

Competition is the key to faster progress!

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