The use of batteries with LFP (lithium-iron-phosphate) cells is growing. According to a December report by Adamas Intelligence, the market share of these batteries is 20,000. which went from 17% in January 2021 to 26% in January 2022, and then reached 31% in September 2022. This means that around a third of accumulators use these cells. Obviously, the battery market is still dominated by those equipped with NCM cells (which offer greater energy density) but it is important to know that there is still a lot of energy. It is clear that LFP accumulators are constantly improving their market share thanks, above all, to their lower costs. bass.
The report highlights some interesting data. For example, 68% of LFP batteries distributed in the first 9 months of the year were installed in Tesla and BYD models. A figure that is not surprising given the number of registrations of the BEV models (and PHEV for BYD) of these two companies. Numbers which, however, make it clear that, to date, the growth in the use of this solution mainly depends on these two manufacturers. In fact, the other car manufacturers that use these accumulators such as SGMW, GAC, MG and Geely, cumulatively reach only 32%.
Furthermore, 85% of the LFP batteries always distributed in the first 9 months of the year are found on models sold in China. The United States, India, the United Kingdom and Germany follow. In addition to this, the report adds that the vehicles equipped with LFP batteries sold outside China in the period under review were almost all produced in China and then exported (or in any case had accumulators made in China).
AND IN THE FUTURE?Manufacturers are more and more interested in the future. looking with interest at LFP batteries for the future, especially for some of their entry level models. According to the report, the market share of these accumulators will fluctuate. between 25% and 35% until it grows. the number of Chinese automakers that will decide to mass export their models with LFP batteries to Europe and America. Furthermore, the growth of the LFP battery market will depend on the growth of the LFP battery market. also from the adoption of this technology by European manufacturers such as Volkswagen and Stellantis and Americans such as Rivian and Ford who already have expressed the will – to use this solution on some of their models.
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