The more mature electric vehicles on the market now mainly adopt two technical routes: ternary lithium batteries or lithium iron phosphate batteries.

　　Five years ago, lithium iron phosphate was considered unsuitable for use in ordinary electric vehicles. However, starting from 2019, the application of lithium iron phosphate in ordinary electric vehicles has increased rapidly. According to reports from many market research institutions, its market share can be achieved over ternary lithium batteries in 2022.

　　Market analysis believes that the main reason for the explosive growth in sales of Tesla Model 3 in 2020 is that its standard endurance model has begun to be equipped with lithium iron phosphate batteries supplied by CATL, which is safe and cost-effective. It must be improved. According to reports, the Tesla Model Y produced in China may launch a lithium iron phosphate battery version in July this year.

　　Recently, there is news that the US Apple, which is accelerating its preparations for car manufacturing, is negotiating with two major battery suppliers, CATL and BYD, that its Apple Car may be equipped with lithium iron phosphate batteries produced by Chinese companies.

　　In addition, Volkswagen plans to mass-produce standard batteries that are 50% lower than the current cost in 2023, and also use the lithium iron phosphate battery technology route.

　　What is the reason that the share of lithium iron phosphate batteries in electric vehicles exceeds that of ternary lithium batteries?

　　In traditional cognition, although lithium iron phosphate batteries have better safety performance and longer life, from the perspective of energy density and mileage, ternary lithium batteries are superior. However, due to the natural defects of the ternary material system, spontaneous combustion accidents of electric vehicles have repeatedly occurred worldwide.

　　The performance of lithium iron phosphate batteries in terms of safety performance is inherently better than that of ternary lithium batteries. In recent years, with technological progress, not only its energy density and endurance have been enhanced, but also the cost has also been greatly reduced. These factors are strong and A strong boost to the development of lithium iron phosphate batteries.

　　The advantages of lithium iron phosphate batteries, such as better thermal stability and longer life, are becoming increasingly prominent, and they are becoming the first choice of more and more electric vehicle companies.