As of November 2021, the installed capacity of lfp (Lithium Iron Phosphate batteries) has reached 64.8GWh, accounting for 50.5% of the total.
So far, lfp (Lithium Iron Phosphate batteries) has fully surpassed ternary lithium batteries in production, sales and installed capacity.
In the Chinese market, BYD Han EV, Tesla’s domestic Model 3, Wuling Hongguang MINI EV, Xiaopeng P7 and other popular star models have been equipped with lfp (Lithium Iron Phosphate batteries).
LFP (Lithium Iron Phosphate batteries) has come back strongly with the advantages of high safety performance and low cost. In addition to new energy vehicles, there is also a broad space in the fields of ships and energy storage. The Starting Point Research Institute (SPIR) predicts that the global shipments of lfp (Lithium Iron Phosphate batteries) will reach 480.1GWh by 2025.
Top10 lfp (Lithium Iron Phosphate) Power Battery
According to SPIR data, the top ten companies with installed capacity of lfp (Lithium Iron Phosphate) Power Battery from January to October 2022 are:
CATL, BYD, Guoxuan Hi-Tech, Yiwei Lithium Energy, Honeycomb Energy, Lishen, Ruipu Energy, Penghui Energy, Henan Lidong, Anchi New Energy.
10 companies together accounted for 98.7%.
The market share of Ningde era iron-lithium batteries reached 47.6%, of which about 60% are supporting passenger cars, including Tesla Model3, Dongfeng Fengshen E series, Hongguang MINI EV, Xiaopeng P7/P5/G3, BAIC EU series, Changan Benben , Euler Black Cat, SAIC Roewe ei5, Nezha NO1/V, etc.; passenger cars account for about 20%, mainly supporting Yutong, Jinlong, Zhongtong, CRRC, Jinlv, etc.; special vehicles account for about 20%, and the main supporting customers include Yutong, Zoomlion, XCMG, SAIC Maxus, Changan, Jiangling, Dongfeng, SAIC, etc.
BYD’s market share is 32.1%, of which about 90% are equipped with passenger cars, including BYD’s Qin, Han, e-series, Tang, Song, Yuan, Dolphin, etc. In addition, it is also equipped with FAW Hongqi and FAW Besturn.
The market share of Guoxuan Hi-Tech is 11.5%, of which about 80% are equipped with passenger cars, including Hongguang MINI EV, JAC iEV series, Chery eQ series, JAC Sihao, Changan Benben, Changan Auchan, Leapmotor T03, BAIC EC/ EU series, Royal Jie Punk and other models.
Yiwei Lithium Energy has a market share of 1.9%, ranking 4th. The passenger car field supports Kaiwo entrepreneurs; special-purpose vehicles account for about half, and customers include Nanjing Jinlong, Geely Sichuan Commercial Vehicle, and Dongfeng Motor.
Honeycomb Energy has a market share of 1.6%, ranking No. 5. Its supporting models are all passenger cars, including Great Wall Ora Haomao, etc.
Lishen’s market share is 1.3%, ranking 6th, of which about 8 are special-purpose vehicles, supporting customers include Beiqi Foton, FAW Jiefang Qingdao, Shaanxi Automobile, Dongfeng, etc. The passenger car field mainly supports JAC Sihao, JAC iEV series, Baojun E series and other models.
Ruipu Energy has a market share of 1.2%, ranking No. 7. Most of the vehicles are passenger cars, including Baojun E series, Lingbao BOX, Dongfeng Fengshen and other models.
Penghui Energy has a market share of 0.7%, ranking No. 8. The main supporting models include Baojun E series, Lingbao BOX, Wuling Rongguang EV, etc.
Henan Lithium Motors has a market share of 0.4%, ranking ninth. The main supporting models include Dongfeng Junfeng EV series, Fukang Elysee, etc.
Anchi New Energy has a market share of 0.3%, ranking 10th, and is mainly used for models such as Changan Auchan, Dongfeng Junfeng EV series, and Changan Star.
Top10 lfp (Lithium Iron Phosphate) Battery leading enterprise layout dynamics
In November 2021, CATL has set up a branch in South Korea to supply batteries for Hyundai Motors. According to people familiar with the matter, the supplied batteries also include lfp (Lithium Iron Phosphate batteries).
In addition to Hyundai Motor, CATL’s lfp (Lithium Iron Phosphate batteries) has also received orders from a number of international car companies. CATL will provide 42 kWh of lfp (Lithium Iron Phosphate batteries) for the US commercial electric vehicle ELMS and ensure the battery supply until 2025.
According to reports, Tesla has booked 45GWhlfp (Lithium Iron Phosphate batteries) with CATL for next year’s sales plan, mainly for Model 3 and Model Y models. Tesla’s purchase of lfp (Lithium Iron Phosphate batteries) from CATL has accounted for 19% of its total shipments and is the largest customer.
The Ningde era is also accelerating the layout of lithium iron phosphate materials. Following the 32 billion yuan Bangpu integrated battery project settled in Yichang, on October 18, Ningde Times invested in Changzhou Liyuan, a lithium iron phosphate material company. Ningde Times also invested in Hunan, the leading domestic lithium iron phosphate material company. Yuneng and Jiangxi Shenghua also jointly invested and established Qujing Lintie with German Nano. In January this year, Ningde Times and German Nano also invested in a lithium iron phosphate project with an annual output of 80,000 tons in Jiang’an County, Yibin City, Sichuan Province, with a total investment of about 1.8 billion yuan.
At present, all BYD pure electric series have been replaced with blade batteries, and the development of the second-generation blade battery technology is being accelerated. It is planned to achieve an energy density of more than 180Wh/kg and a volumetric energy density of 300Wh/L in 2025.
Since the beginning of this year, the entire FAW Hongqi E-QM5 series has been equipped with blade batteries, a pure electric model from Changan, and two models of Jinkang and BAIC are also equipped with blade batteries. In addition, many international car companies such as Tesla, Ford, Volkswagen, Daimler, and Hyundai are also in contact.
According to reports, Toyota plans to launch a small pure electric vehicle by the end of next year, focusing on the Chinese market, and will be equipped with a blade battery developed by BYD.
On the production capacity side, BYD will expand the Chongqing base in 2021, and build new bases in Changsha, Guiyang, Bengbu, Changchun, Jinan, etc., and switch the original battery production capacity in Qinghai to the blade battery with a success rate. It is expected that the blade battery production capacity will be close to 60GWh by the end of 2021 .
At the beginning of this year, Xu Xingwu, executive vice president of Guoxuan High-tech Industrial Research Institute, said that the mass production of lfp (Lithium Iron Phosphate batteries) with an energy density of 210Wh/kg will be realized by the end of the year. Battery pack, size 354*102*11.8, 0.33C battery capacity 55Ah, voltage platform 3.2V, battery weight 830g.
At present, the energy density of Guoxuan Hi-Tech cells has exceeded 210Wh/kg, and the energy density of the system has reached 160Wh/kg. At the same time, the company also has both structural innovation and material innovation capabilities in technical reserves, and deeply taps the potential of lithium iron phosphate technology to develop Innovative structural solutions such as large cylindrical type and JTM constantly open the upper limit of lithium iron phosphate application.
Volkswagen plans to mass-produce “standard batteries” that are 50% lower than the current cost in 2023, and entry-level models will use lfp (Lithium Iron Phosphate batteries). At present, Volkswagen has officially become a major shareholder of Guoxuan, and Guoxuan Hi-Tech is expected to become the main supplier of lfp (Lithium Iron Phosphate batteries) of Volkswagen in the future.
In terms of production capacity, as of the end of 2020, the company has a total power battery capacity of 28GWh, of which lithium iron phosphate power battery capacity is 23GWh. This year, 18GWh of new production capacity will be added. With the upgrade of the old production line, the production capacity can reach 50GWh by the end of the year, about 100GWh by the end of next year, and 300GWh by the end of 2025. Production bases include Hefei Headquarters, Hefei Economic Development Zone, Lujiang, Nanjing, Qingdao, Tangshan, Nantong, Liuzhou, etc.
Yiwei Lithium Energy
At present, Lithium Iron Phosphate batteries (LPP) mainly supply commercial vehicles such as buses and passenger cars. Customers who have formed a stable cooperative relationship include Nanjing Jinlong, Geely and Dongfeng. In this year’s 1-8 batches of new energy vehicle recommended catalogues, Yiwei Lithium Energy has a total of 187 supporting models. Except for a ternary lithium battery for Hezhong New Energy, the remaining 186 models are lfp (Lithium Iron Phosphate batteries). .
The main products of the company’s power-type lfp (Lithium Iron Phosphate batteries) can achieve ≥180wh/kg, and have been widely used in passenger cars, logistics vehicles and passenger car markets.
In terms of production capacity, Yiwei Lithium has greatly expanded the production capacity of lfp (Lithium Iron Phosphate batteries) this year. In February and March this year, Yiwei expanded the production capacity of square iron lithium batteries for vehicles twice; on November 5, the company plans to invest 6.2 billion yuan , in Jingmen to build a 20GWh large cylindrical battery project for passenger cars and a 16GWh square lfp (Lithium Iron Phosphate batteries) project; on November 12, the company’s 14GWh iron-lithium battery production capacity was put into production; batteries) project was signed and implemented in Chengdu.
At present, Honeycomb Energy’s first-generation L600 short blade lfp (Lithium Iron Phosphate batteries) has been officially mass-produced, with a cell capacity of 184Ah, an energy density of 175Wh/kg, a fast charge of 0-80% SOC, and a charging time of less than 45 minutes. The number of core cycles exceeds 4,000, and it is compatible with nearly 80% of the mainstream electric vehicle development platforms from A0 to D.
Honeycomb Energy’s second-generation L600 short-blade lithium iron phosphate has been developed and is expected to be mass-produced in Q3 2022. The specifications of the second-generation short-blade lithium iron phosphate cells are the same as the first-generation cells, but the individual capacity is increased to 196Ah, the energy density exceeds 185wh/kg, and the volumetric energy density exceeds 430wh/L, which is an industry-leading level.
Based on this battery, it can achieve a driving range of 550km for A-class models, and can achieve 1.6C fast charging under high energy density, which can satisfy more than 80% charging in 30 minutes.