Chemistry & Cell Components

Chemistry & Cell Components

LFP | Technology

LFP | Technology

Pros and Cons of Lithium Iron Phosphate (LFP) vs. Nickel Manganese Cobalt (NMC) S

LFP Strength

LFP Weakness

LFP Opportunity

LFP Threat

Safety

Good cycle life

Abundance of iron

Weight

Energy density

Low temperature performance

Weak material supply chain (material demand > supply)

Power

Difficult to read state of charge

Lowest recycle value

Cost (*2022)

Low/mid-range/entrylevel EVs

e-Bus, e-Bicycle

Stationary storage

Cost sensitive applications

NMC

High-voltage LNMO

Na-ion battery

Regulations on energy density

Increasing material cost

NMC Strength - Energy density - Low temperature performance - Power - Strong battery supply chain - High recycle value

NMC Weakness

Cost

Safety

Ni/Co supply chain

Source: Battery Talk: Battery Application Break Down 1/01/2024 (Version 2.0)

NMC Opportunity

Long range/high-end EVs

Stationa

e-Bus, e-Bicycle, e-Motorcycle

Power tools / performance sensitive applications

NMC Threat

LFP

High-voltage LNMO

Increasing raw material cost

Lithium Iron Phosphate (LFP) batteries historically have been used in China for small and low-cost EVs. However, the past couple of years has seen LFP proliferate to the largest vehicles. Almost all major automakers have now outlined plans to make use of LFP. LFP is also the dominant chemistry used in energy storage systems.

Extracted from the PDF; charts and images may read imperfectly.