The proportion of lithium iron phosphate in the electric vehicle market continues to increase
01.The policy dividend of the new energy automobile industry is withdrawn. In order to reduce costs, more cost-effective lithium iron phosphate batteries have been favored by more automobile manufacturers. Calculated according to the current price, the replacement of a ternary lithium battery with a charge of 55kWh and a battery life of 405km with a lithium iron phosphate battery can reduce the cost by 4,600 yuan to 5,600 yuan.
Second, the energy density of lithium iron phosphate batteries is increasing. Since 2010, it has increased from 90Wh/kg to 190Wh/kg, which greatly alleviates consumers' concerns about the short battery life of lithium iron phosphate models.
Third, the lithium iron phosphate battery has a stable lattice structure. Under the same high temperature, fast charge or overcharge conditions, the lithium iron phosphate crystal is less likely to collapse in structure and has higher safety. At the same time, the stable structure of the lithium iron phosphate material also brings a higher cycle life. When the capacity of the lithium iron phosphate battery decays to about 70%, the commercial energy storage station can be disassembled and placed to continue to be used.
Currently, lithium iron phosphate relies on its obvious advantages in cost, safety, and cycle life, and more and more best-selling models are equipped with lithium iron phosphate batteries. Such as Tesla's Model 3, Model Y standard battery life version, BYD Han, Song PLUS EV, Tang EV, Wuling macro mini, Great Wall Euler cat series, Xiaopeng P7, Xiaopeng new model G3i, Nezha V, zero running T03 etc.
In addition, BYD announced not long ago that all pure electric vehicles have been replaced with blade batteries using lithium iron phosphate technology; Tesla even stated that in the future, lithium iron phosphate batteries will account for as much as two-thirds of Tesla.
In this regard, the market generally expects that in the future, the high-end passenger car market will be dominated by ternary batteries, and the market share of lithium iron phosphate will continue to expand in the middle and low-end passenger cars and commercial vehicles.
Zeng Yuqun, chairman of CATL, also said that in the power battery market, the proportion of lithium iron phosphate will gradually increase. However, many high-end models have a higher demand for cruising range, so there is still room for ternary batteries.
Energy storage industry winds up as another incremental market
02.At present, in addition to the main application of lithium iron phosphate in the field of new energy vehicles, it is also developing rapidly in the fields of energy storage and electric ships, especially in the energy storage industry.
According to the form of energy storage, energy storage can be divided into electric energy storage, thermal energy storage, and hydrogen energy storage. Among them, electrical energy storage is the most important form of energy storage.
The Energy Storage Industry Research White Paper 2021 released by the Energy Storage Industry Technology Alliance predicts that in 2021, it is conservatively estimated that the cumulative installed capacity of the electrochemical energy storage market will reach 5.79 million kilowatts. From 2021 to 2025, the cumulative compound growth rate of electrochemical energy storage will be 57.4%, and the market will show a trend of rapid growth.
Generally speaking, lithium batteries used in the field of energy storage require more than 3,500 cycles, that is, a service life of more than 10 years, while the cycle number of lithium iron phosphate batteries can reach more than 7,000, which is much higher than that of lead-acid batteries and ternary lithium Battery. In terms of application cost, lithium iron phosphate is also significantly lower than other batteries.
Energy storage is different from power batteries. It does not require high battery energy density, but has higher requirements for safety, cycle times and cost. Lithium iron phosphate batteries have outstanding advantages in three aspects. Lithium battery energy storage is expected to continue in the future Dominated by lithium iron phosphate. This is undoubtedly a huge benefit for lithium iron phosphate batteries.
