LFP Battery Use

Lithium Iron Phosphate (LFP) Battery

Global LFP Growth Forecast

Source : https://www.fortunebusinessinsights.com/lithium-ion-li-ion-phosphate-batteries-market-102152

According to Fortune Business Insights, the Global Lithium Iron Phosphate Battery Market is projected to grow from USD 10.12 billion in 2021 to USD 49.96 billion by 2028 at a CAGR of 25.6% during the forecast period.

Source : https://www.fortunebusinessinsights.com/

Lithium Iron Phosphate (LFP) in North America

LFP Safety and Reliability Wins Out in Mass Market Adoption

Non toxic (cobalt, manganese and nickel free)
Superior fire safety (much less heat produced)
Well defined performance (lower capacity loss, structurally more stable)
Environmentally friendly and recyclable (no harmful metals)
Lowest cost battery on the market (simplicity of manufacture)
Longer longer life, lower degradation (millions of miles in some cases)
Higher charge/discharge efficiency (no battery memory)
Consistent discharge voltage (less power loss when battery low)
Longer shelf life (stores itself better)
Versatile for various storage applications (small and large scale)

Rapid Growth in Demand for LFP Batteries for EVs

Major EV manufacturers announce plans to move battery production from other technologies to Lithium iron phosphate

May 9, 2022 – Ford EV Batteries will Switch Over to Lithium Phosphate Soon

April 21, 2022 Almost half of all Teslas built in Q1 had the LFP Battery Pack

March 10, 2022
Rivian will Follow Tesla and Change to LFP Battery Technology

Oct 31, 2021
Mercedes-Benz to Launch LFP-Powered BEVs from 2024

Oct 7, 2021
Hyundai Motor Developing EVs with LFP Battery for Global Market

Aug 3, 2021
Ford, VW, Tesla Lean in to LFP Battery Technology for EVs

Commercial Transportation-Large Scale Energy Storage

Due to their lightweight, compact nature, LFP Batteries are being deployed increasingly by the majors for larger applications

Commercial Transportation

May 29, 2022

CATL Batteries to Be Used by Europe’s Top Electric Bus Maker Solaris.

May 23, 2022

LFP battery Increasingly Applied to Electric Buses, Energy Storage Systems

Mar 09, 2022

Motive Using LFP Batteries from ONE in Commercial Vehicles

Feb 24, 2022

Tractor Maker Daedong Looking to Acquire LFP Battery Packaging Firm

Large Scale Lithium Iron Phosphate Energy Storage

June 8, 2022

Briggs & Stratton Launches Residential Solution with Lithium-Ferro-Phosphate Chemistry

March 30, 2022

Report Suggests Lithium Iron Phosphate could Play Key Role in Energy Storage

March 22, 2022

LFP to Dominate 3TWh Global Lithium-Ion Battery Market by 2030

January 27, 2022

Tesla Hints at Transition of All Energy Storage to LFP Batteries