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It is understood that not only the top selling models in the market, such as Tesla Model 3, BYD Han, and Shenche Wuling Hongguang Mini, are starting to use lithium iron phosphate batteries. Some traditional car companies, such as Changan, Dongfeng, SAIC, etc., also have models equipped with lithium iron phosphate batteries.

Tesla CEO Musk recently tweeted that due to concerns about nickel production, he will increase the use of lithium iron phosphate batteries.

In fact, in addition to having advantages in cost and safety, power lithium-ion battery manufacturers have been constantly changing their research and development technology in recent years, such as the CTP technology of Ningde Times and BYD's blade battery technology. This has also solved the problem of short battery life of lithium iron phosphate batteries to a certain extent, enhancing their competitiveness in the market.

In addition, many practitioners and industry analysts have reported that many car and battery manufacturers have realized that the core constraint on the development of electric vehicles may not be the range, but the convenience of charging. If one day charging can be as convenient as refueling, the range will not be as important.

The focus has shifted from battery life to charging, and how to reduce costs and increase efficiency to make it affordable for more people has become a more concerning issue for battery and car manufacturers. The cheap and durable lithium iron phosphate highlights its value. According to research data from third-party institutions, the growth rate of demand for lithium iron phosphate has surpassed that of ternary lithium-ion batteries since last year, and the market share has gradually increased.

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