Lithium iron phosphate battery

The iron phosphate battery system has the advantages of long service life, high charge and discharge rate, high energy density, strong temperature adaptability, modular design, environmental protection and energy saving. It is suitable for application scenarios such as communication base stations and indoor distribution systems.
The current high purchase cost of electric vehicles has a lot to do with the fact that the price of batteries cannot fall, although many battery manufacturers say that the market price is close to the break-even point.
However, due to price fluctuations in the upstream raw material market, battery products will inevitably have price fluctuations. At present, as the lithium iron phosphate battery is actively embraced by car companies again, the production capacity supply and demand situation has changed, and its price will also usher in a new wave of growth.
A few days ago, according to media reports, lithium iron phosphate ushered in the first price increase this year. Jiangxi Zhili Technology issued a "Price Adjustment Explanation Letter" on November 19, and the company decided to increase the order price of lithium iron phosphate by 1,000 yuan per ton from November 19.
According to the industry website, since mid-November, lithium iron phosphate cathode companies have sent letters to increase prices. The current average industry price has increased from the lowest 33,000 yuan/ton to 35,000 yuan/ton, an increase of about 2,000 yuan/ton.
In addition, the data released by the China Automobile Association shows that the total installed capacity of lithium iron phosphate batteries in October increased by 127.5% year-on-year and 3.5% month-on-month. This has doubled the year-on-year growth of lithium iron phosphate batteries for three consecutive months.
Industry insiders believe that the current safety and low cost of lithium iron phosphate batteries, as well as the industry and the market's more rational understanding of the high endurance of electric vehicles, have promoted a new wave of market penetration of lithium iron phosphate batteries.
Analysts predict that with the decline of subsidies and the improvement of technology level, the market share of lithium iron phosphate is expected to be equal to or exceed that of ternary batteries in the future.
At present, compared with ternary lithium batteries, the biggest advantage of lithium iron phosphate batteries is safety and stability, as well as cost advantages. The current cost of lithium iron phosphate is about 20% cheaper than ternary lithium batteries.
For those large passenger and freight vehicles, large ships, and special vehicles, lithium iron phosphate batteries are also a better choice.
At the same time, on the corporate side, since the third quarter of 2020, the leading iron-lithium cathode companies such as Defang Nano, Beterui, Hunan Yuneng, Hubei Wanrun, and battery manufacturers such as BYD and Guoxuan Hi-Tech have all reached full production. With a demand of about 120,000 tons, the effective production capacity of iron-lithium cathodes for the whole year is expected to be about 200,000 tons in 2020.
It is worth mentioning that BYD is currently the world's largest manufacturer of lithium iron phosphate batteries, and after that, when the market share of lithium iron phosphate batteries increases and prices rise simultaneously, BYD may benefit first by virtue of its scale advantages.