LFP Battery Trend Strengthens, but Nickel Batteries Still Dominate

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Adi Ahdiat 23/01/2024 15:09 WIB

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According to the IEA, the trend of using LFP batteries for electric vehicles has strengthened significantly in the last five years. However, its market share remains far below that of nickel-based bat

Electric Vehicle Battery Market Share by Type (2018-2022)

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Electric Vehicle Battery Market Share by Type (2018-2022)

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According to the International Energy Agency (IEA), the trend of using lithium iron phosphate (LFP) batteries for electric vehicles has significantly strengthened in the last five years.

In 2018, LFP batteries only achieved a 7% global market share. By 2022, this share had risen to 27%.

Despite this, LFP batteries have not yet been able to overcome the dominance of high-nickel batteries.

Although the trend is declining, the market share of high-nickel batteries in 2022 was still 66%, far exceeding its competitors as shown in the graph.

According to Poweroad, a Chinese battery company, nickel batteries are superior to LFP batteries in terms of energy density.

Poweroad notes that nickel batteries can generally contain up to 220 watt-hours per kilogram (Wh/kg), while LFP batteries only contain 120 Wh/kg.

This means that a 1 kg nickel battery can have almost twice as much energy as an LFP battery of the same weight.

However, nickel batteries have a relatively short lifespan.

According to Poweroad, nickel-based batteries can generally only be recharged about 800 times.

On the other hand, LFP batteries can be recharged up to 3,000 times before their performance degrades. With proper maintenance, their lifespan can even reach 6,000 recharges.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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LFP Battery Trend Strengthens, but Nickel Batteries Still Dominate

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LFP Battery Trend Strengthens, but Nickel Batteries Still Dominate

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