Lithium-ion battery (LIB) has become the main energy storage solution in modern social life. Among them, lithium iron phosphate batteries are a perfect substitute for lead-acid batteries and are the first choice in the energy storage industry.

　　After 30 years of development, the energy stored by lithium batteries has more than tripled, from 200 watt-hours per liter to 700 watt-hours; the cost has also dropped by 30 times, down to about $150 per kilowatt-hour. However, this is still higher than the $100 per kilowatt-hour affordability target set by the U.S. Department of Energy.

　　On the other hand, as traditional technologies approach their limits, the pace of technological progress is slowing down, and many data are approaching the theoretical maximum.

　　Researchers warn that alternatives to cobalt, nickel and other rare metals must be found as soon as possible to meet the growing demand for lithium batteries, because their scarcity is pushing up prices: in the past two years, cobalt, nickel and other rare metals The price has quadrupled, from US$22 per kilogram to US$81 per kilogram.

　　When trucks, buses, airplanes, and ships switch to lithium batteries, more lithium batteries and grid power are needed.

　　If there is no change, demand will exceed production in 20 years. We predict that by 2050, the lithium battery industry will need 1.5 million to 2.5 million tons of cobalt, which will far exceed the current mining capacity. Similarly, by 2050, the demand for nickel will increase by 2-3 times, and the shortage of nickel will also be obvious.

　　Once the supply peaks, the price of electric car batteries may rise by more than $1,000.

　　The most promising alternative currently is to use conversion materials in the electrodes, using copper, iron, fluoride, and silicon to react with lithium ions. By switching the transition metal in the cathode, the battery can hold 6 times more lithium atoms than a standard cathode.