With the adjustment of national policies and the increasing demand of car companies for cruising range, battery companies have deployed ternary battery business. However, the instability of ternary battery materials makes it unsatisfactory for applications in subdivisions, especially passenger cars and special vehicles. In contrast, lithium iron phosphate batteries have shown their unique advantages.
Policy: In the new supplement, lithium iron phosphate has a strong share in passenger cars and other fields
At the policy level, the safety of ternary batteries has attracted the attention of the government. At the beginning of 2016, the Ministry of Industry and Information Technology suspended the entry of ternary battery buses into the recommended catalog for this reason. Entering 2017, although the policy has lifted the ban on ternary materials, the first eight batches of recommended catalogs released by the Ministry of Industry and Information Technology this year have still not seen ternary battery buses.
Correspondingly, in the four batches of recommended catalogs since the new supplement was released, lithium iron phosphate accounts for more than 70% of passenger cars, occupying a dominant position. The reason is that in addition to stronger safety, this is also inseparable from the development of lithium iron phosphate technology. At present, the energy density of supporting lithium iron phosphate batteries on the market can meet the technical threshold requirements of subsidies.
In addition to occupying a dominant position in the field of passenger cars, lithium iron phosphate batteries have also reversed in the field of special vehicles. In the 4 batches of recommended catalogs since the Ministry of Industry and Information Technology released the new supplement, the proportion of lithium iron phosphate in the field of special vehicles has gradually increased, and the application proportion in the 8th batch of catalogs has reached 50%, exceeding the proportion of 36% for ternary batteries for the first time.
According to statistics from the "Cui Dongshu" public number, among the eighth batch of recommended catalog passenger car models, the system energy density of lithium iron phosphate batteries above 120Wh/kg accounted for 98%. Driven by subsidies, passenger cars above 140Wh/kg accounted for becoming the mainstream of new products than 70%.
Technology: The energy density of lithium iron phosphate monomer is expected to reach 200Wh/kg in 2019
With the improvement of battery pack structure development technology, the current lithium iron phosphate group energy density has reached the level of ternary NCM523 and is still improving.
Take the listed company Guoxuan Hi-Tech as an example. As one of the earliest companies engaged in power lithium batteries in China, lithium iron phosphate has always been its flagship product. At present, Guoxuan High-Tech has completed the upgrade and transformation of the production line of lithium iron phosphate monomer energy density 180Wh/kg, and the system energy density on passenger cars is close to 130Wh/kg, which can meet the cruising range of about 400 kilometers.
With the development and application of new materials and technologies, Guoxuan Hi-Tech announced that it plans to increase the energy density of lithium iron phosphate monomer cells to nearly 200Wh/kg in 2019.
Compared with ternary batteries, lithium iron phosphate batteries with low raw material prices, high safety, and long service life have obvious advantages. In fact, many battery manufacturers are also confident in a larger market for lithium iron phosphate. Herzog Technology stated in the performance briefing that "the company's lithium iron phosphate needs to continue to expand its production capacity." BYD's Lithium Battery Division has also publicly expressed the view that "I believe that lithium iron phosphate batteries will return strongly in a certain area."
With the decline of subsidies and real marketization, the advantages of lithium iron phosphate in terms of low cost, long life, and high safety will gradually appear in the fields of passenger cars, commercial vehicles, and special vehicles.
Market: Lithium iron phosphate has broad prospects for future applications
Dong Yang, executive vice-chairman of the China Association of Automobile Manufacturers, was interviewed by CCTV's "Economic Information Network" that lithium iron phosphate batteries are relatively safe and are more valued in the passenger car application market, and corresponding policies should also keep up; Ministry of Industry and Information Technology Equipment Industry In an interview with CCTV, Deputy Director Qu Guochun also stated: In the future, the formulation of new testing standards for the safety of batteries in the new system will be accelerated, and the development of new energy industry will be promoted through the formulation of product standards.
With policy inclination and technological progress, the future market for lithium iron phosphate batteries can be expected.
Some lithium iron phosphate battery manufacturers are also consolidating the existing market while seizing the "new track" through a series of card positions. After years of hard work, Guoxuan Hi-Tech already has a number of strategic customers in the field of passenger cars and special vehicles, such as SAIC Maxus, Ankai Bus, Dayun Automobile, King Long Bus, etc.; in the field of industrial vehicles, Guoxuan Hi-Tech has established a forklift technology project team. In response to the technical requirements for batteries in this segment, a lithium iron phosphate battery for forklifts has been specially developed. It is reported that Guoxuan High-tech forklift power batteries have been widely used in tobacco, medicine, food and beverage, automobiles and parts, logistics, home appliances, and other manufacturing fields.
The industry believes that market forces will play a major role after the official withdrawal of subsidies in the future. Electric logistics vehicles and passenger vehicles below the A0 level are more price-sensitive, and they are more cost-effective. The application of lithium iron phosphate in the above fields still has great advantages. In addition, as energy-saving and emission reduction forces industrial vehicles to switch to electric vehicles, coupled with the dominant position of lithium iron phosphate in the passenger car market, the lithium iron phosphate market still has broad application prospects in the future.
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