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On December 1st, Longbai Group announced that the company and the Nanzhang County Government had recently signed a project investment contract, intending to invest in the construction of an annual production of 150000 tons of battery grade lithium iron phosphate project and a post treatment and expansion project of titanium dioxide (200000 tons/year) in Nanzhang County, with a total investment of 3 billion yuan.

In addition, Yuntianhua, Zhongyin Rongye, Fulin Seiko, Chuanjinnuo, Chuanfa Longmang, German Nano, Longpan Technology, Batian Co., Ltd. have all expanded their investments in the field of lithium iron phosphate.

Lithium iron phosphate has broad future prospects

Overall, the potential of lithium iron phosphate is enormous. The institution predicts that the global demand for lithium iron phosphate batteries will reach 600GWh by 2025, and the demand for lithium iron phosphate materials will be close to 2 million tons.

At the same time, as more and more car models are paired with lithium iron phosphate batteries (such as BYD's new electric vehicles, Great Wall Euler Cat series, Wuling Hongguang MINI, Xiaopeng G3, etc.), as well as the increasing application of lithium iron phosphate batteries in the energy storage field, it has brought huge opportunities to lithium iron phosphate.

It is worth noting that the expansion period of lithium iron phosphate cathode is 6-12 months, which is a longer time. Industry analysis suggests that it may be difficult to create a supply bottleneck in 2022, but top companies are still expected to maintain a production utilization rate of around 80%.

In short, lithium iron phosphate may occupy a place in more scenarios such as commercial vehicles in the future, and at the same time, it has put forward higher requirements for the industry in terms of cost, technology, and other aspects.

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