Data from the China Passenger Transport Association shows that the installed capacity of lithium iron phosphate batteries has surpassed that of ternary lithium

According to the latest data from the Federation of Passenger Transport Associations, in terms of power batteries for new energy vehicles, lithium iron phosphate batteries have grown significantly, accounting for more than half of the passenger car field. Due to its low cost advantage, the proportion of lithium iron phosphate has gradually expanded, and it has become a common choice in the field of commercial vehicles. Due to the rising cost of battery materials, the installed capacity of ternary material batteries in passenger cars has been lower than that of lithium iron phosphate batteries for many months, and the cumulative proportion in 2022 will also be less than 50%.

You must know that in 2019, more than 80% of the battery core materials on the market are ternary materials, and lithium iron phosphate accounted for only a little more than 4% at that time.

In recent years, lithium iron phosphate has advanced by leaps and bounds. The installed capacity in the passenger car field from January to August in 2019, 2020, 2021, and 2022 accounted for 4.2%, 13%, 39.4%, and 50.9%, respectively.

The rapid increase in the installed capacity of lithium iron phosphate is naturally directly related to the surge in BYD’s sales. At present, BYD’s blade battery is lithium iron phosphate.

From January to August, the cumulative production of new energy vehicles reached 4.074 million, and the cumulative sales volume of BYD reached 980,000, compared with only 270,000 in the same period last year, an increase of 267%.

Wang Chuanfu, chairman and president of BYD Group, said: Under the current trend, China’s new energy market will reach 9-10 million vehicles in 2023, and BYD is ready to hit 4 million vehicle sales.

I don’t know when it started, the label of ternary lithium battery is no longer high energy density, but has become high cost and unsafe. And the lithium iron phosphate batteries led by blade batteries, the more they emphasize the promotion of their own safety, the more delicate the situation of ternary lithium batteries.