For single cell, lithium iron phosphate battery has the advantages of safety and high cycle life, but due to the limitation of cathode material properties, it is difficult to improve the energy density of single cell. Through the improvement of battery group technology in recent years, the gap between the energy density of lithium iron phosphate battery group and ternary lithium battery group is narrowed, and the operating range can meet the market demand, coupled with its low cost, the market demand is expanding.
The blade battery
In 2021, the proportion of installed lithium iron phosphate batteries continues to rise, which has surpassed termion lithium for four consecutive months. It is mainly due to the large-scale shift of automobile enterprises to use lithium iron phosphate batteries, which drives the increase of installed lithium iron phosphate batteries.
Market analysis shows that the proportion of installed lithium iron phosphate batteries continues to pick up from the first half of 2020. Starting from June 2021, the installed volume of lithium iron phosphate batteries has exceeded terpolymer for four consecutive months. In September 2021, the installed volume of lithium iron phosphate batteries accounted for 60.51%, the highest market share in recent years.
In September, the sales volume of top10 pure electric models accounted for 52.3% of pure electric passenger vehicles, among which 7 models were matched with lithium iron phosphate batteries in a corresponding proportion.
For single cell, lithium iron phosphate battery has the advantages of safety and high cycle life, but due to the limitation of cathode material properties, it is difficult to improve the energy density of single cell. Through the improvement of battery group technology in recent years, the gap between the energy density of lithium iron phosphate battery group and ternary lithium battery group is narrowed, and the operating range can meet the market demand, coupled with its low cost, the market demand is expanding.
(1) The price of nickel, cobalt and manganese continues to rise, and the cost advantage of lithium iron phosphate battery is obvious
The nickel and cobalt elements necessary for ternary lithium battery are precious metals. In addition, the price of nickel, cobalt and manganese keeps rising since 2021, resulting in the rising cost of ternary lithium battery. However, lithium iron phosphate battery does not contain precious metal materials, so the cost is relatively low.
Compared with the fourth quarter of 2020, the prices of nickel, cobalt and manganese in 2021 kept rising, with the unit price of manganese increasing by 255.93%.
Analysis of reasons for loading more lithium iron phosphate batteries than ternary batteries
The price of ternary lithium cell in the global market is $102 /kWh, and the price of lithium iron phosphate cell is $80 /kWh, the gap between the two is $22. According to the current battery capacity of pure electric models equipped with 70kWh, the cost difference of the cell under the same capacity is about 9,853 yuan. At the same time, the gap will widen as battery capacity increases.
Analysis of reasons for loading more lithium iron phosphate batteries than ternary batteries
(2) The subsidy policy is no longer one-sided pursuit of energy density, and the continuous upgrading of lithium iron phosphate battery technology can meet the subsidy standard
The technical specifications of subsidy policies for pure electric passenger vehicles in 2021 shall be consistent with those in 2020, and the subsidy policies shall no longer unilaterally pursue energy density. Take BYD and Guoxuan High-tech as an example, the technical parameters of the lithium iron phosphate battery assembly of the main supporting models can meet the subsidy standard.
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