Wang Chuanfu, Chairman and President of BYD: The most important indicator of lithium batteries has changed!

　　On March 26, Wang Chuanfu, chairman and president of BYD Co., Ltd., delivered a keynote speech at a forum in 2022. He said that battery energy density is no longer the most important metric, and the most important indicators may become safety, cost, cycle life, etc.

　　At the forum, Wang Chuanfu said that according to the speed of industry change last year, if it is calculated at the same speed, the penetration rate of new energy vehicles is expected to reach 35% by the end of this year. He also raised the hope that the government can clarify the preferential policies for new energy vehicles. The reason is very simple, because the research and development of electric vehicles requires a certain period, generally 3 to 5 years. If the policy is unclear or stable, this will seriously affect the industry expectations.

　　Regarding his views on the technical route of new energy vehicles, Wang Chuanfu said that if pure electric vehicles focus on solving the need for additional purchases, then plug-in hybrid vehicles can effectively solve the needs of more families for first purchase and replacement purchases. There is a clear substitution effect. Therefore, BYD insists on walking on two legs with pure electric and plug-in hybrid.

　　At the same time, with the rapid outbreak of new energy vehicles, users' requirements for electric vehicles have also begun to diversify, which has also brought about obvious industrial changes in the power battery industry. BYD insists on lithium iron phosphate as the correct development path.

　　Because safety is the cornerstone of the development of new energy vehicles, cost is an important indicator that must be faced. When performance crosses a certain threshold, the importance of energy density decreases. Moreover, as the cruising range increases, the importance and priority of the energy density of the power battery will also change accordingly.

　　In the past, when the cruising range of an electric vehicle was 200 kilometers, energy density was the most important indicator; but when the cruising range reached 500 kilometers, it was the same as a tank of fuel for a fuel vehicle, so Wang Chuanfu would think that battery energy density is no longer the most important. Well, the most important metrics may become safety, cost, cycle life, etc.

　　However, SES Power believes that the energy density ratio of the lithium iron phosphate battery is still the key to its development in the electric vehicle market. Although BYD has launched a blade battery, the energy density of the lithium iron phosphate battery pack is comparable to that of the ternary battery, and the cycle life is, the safety factor is stronger, but the same similar technology will also be referenced or used by the ternary lithium battery, this advantage is not lasting. Of course, lithium iron phosphate does not contain rare metals, which is more suitable for social resource tolerance. This is undoubtedly the best choice in the current complex economic environment. For example, 12V100Ah, 24V100Ah, 36V100Ah, 48V100Ah, 3KW, 5KW household energy storage systems, rack-mounted energy storage systems, etc., using EVE, CATL, BYD square aluminum lithium iron phosphate batteries, the performance is very stable, and the price is relatively high. The ternary lithium battery is more stable.