The proportion of LFP battery in electric vehicle will continue to hit record highs in 2022

According to Researcher and Research LLC, a new high share of lithium-iron-phosphate (LFP) battery in global electric vehicle (EV) market (in terms of MWh) was 19.2% in March 2022, as shown in figure 1. We expect the share of EV using LFP battery continues to reach new highs this year, mainly driven by sales from Tesla, BYD, GM (Wuling), Chery, GreatWall, XPeng and etc.   Figure 1  Share (MWh) of LFP battery in global EV market   Most of EV models using LFP battery were manufactured and sold in the Chinese market last year, and the share of LFP battery in the Chinese EV market has challenged the dominance of ternary lithium battery such as nickel-manganese-cobalt (NMC) and nickel-cobalt-aluminum (NCA). With the successive shipments of some of Tesla’s models equipped with LFP battery, LFP battery has entered the global market. The performance of early LFP battery was seriously behind

2022-04-29T06:13:18-07:00May 2nd, 2022|Categories: Global EV Snapshot|Tags: , , , , , , , , , , , , , |

Will Tesla add a second LFP battery supplier?

Although Tesla is known for its innovation in the automotive industry, Tesla has begun to realize that it should not pay too much attention to technical details and perfect design during the development of Tesla Roadster. And then Tesla transformed itself into a company that stressed both innovative performance and cost management when developing Model S and Model X. And Tesla attached greater importance to the implementation management of feasible solutions for Model 3 and Model Y. Tesla quickly reached the stage of cost control. Tesla is actively looking for various components and suitable solutions that can reduce costs and continues to simplify vehicle structure and manufacturing processes. As a result, Tesla can be said to be a combination of the innovative nature of tech companies in Silicon Valley and the ability of traditional automakers to focus on production costs. Like Apple, Tesla is doing practical research and development, with

2022-03-07T04:23:46-08:00March 7th, 2022|Categories: Global EV Snapshot|Tags: , , , , , , |

Global electric vehicle market review and outlook 2021

According to Researcher and Research LLC, the global electric vehicle (EV) market reached 6.389M units in 2021, with an annual growth rate of 96.9%, the biggest growth in years, as shown in figure1. Figure 1  Worldwide EV sales   This is the result of a long history of policies used by many countries to push automakers to sell EV (e.g., the European CO2 emissions legal target), give subsidies to EV buyers (e.g., subsidies and local incentives in China), or encourage buyers with tax or related incentives (e.g., Federal Tax Incentives and State, Local and Utility Incentives in the US), the demand for EV has shown an obvious growth trend. However, the supply chain is the biggest obstacle to market growth in 2022, with key components such as chips and batteries still in short supply. Therefore, the EV market will face an unprecedented price rise this year, which will definitely

2022-01-28T05:16:21-08:00January 28th, 2022|Categories: Global EV Snapshot|Tags: , , |

The surging LFP Battery

According to Worldwide Monthly BEV & PHEV Tracker from Researcher and Research, the share of lithium-iron-phosphate (LiFePO4 cathode; LFP) battery in global electric vehicle (EV) market (in terms of MWh) was 13% in July 2021, as shown in figure 1. We expect a new high share in Q4 this year, mainly driven by shipments from GM (Wuling), BYD and Tesla. Figure 1  Share of LFP battery in global EV market   Mainly produced and sold in China Nearly 100% of current EV models using LFP battery are manufactured and sold in the Chinese market. In terms of EV sales from January to July this year, the rise in the proportion of LFP battery was mainly driven by models such as GM Wuling HongGuang Mini, Tesla Model 3, BYD Han, BYD Qin Plus DM-i, BYD Qin Plus and Sol E10X. Currently, only Chinese battery manufacturers are licensed to manufacture and

2021-09-21T01:39:32-07:00September 15th, 2021|Categories: Worldwide Monthly BEV and PHEV Tracker|Tags: , |
Go to Top