The global popularity of LFP batteries remains unabated, with Chinese companies in lithium battery industry leading in capitalizing on this trend.
In the Chinese market, the installations of LFP batteries have exceeded those of ternary lithium batteries for three consecutive years. The competition among top players for LFP market share has reached a fever pitch.
Internationally, benefiting from a well-developed LFP battery industry supply chain and supporting system, Chinese companies are frequently receiving large orders on the global stage.
When it comes to the export growth, China’s exports of power-type LFP batteries in H1 this year reached 23.9 GWh, up 46.7% year-on-year; other types of LFP batteries saw exports of 13.6 GWh, up 417.8% year-on-year.
In mid-August, Europe’s first GWh-scale LFP battery plant officially commenced production in Arendal, Norway. The factory has an annual capacity of 3 million cells with a total designed capacity of 1 GWh. It is funded and operated by Morrow Batteries, with the first batch of products expected to be delivered by the end of this year. Additionally, the company plans to build three more battery plants in this region.
In July, LG Energy Solution secured its first major LFP battery order, partnering with CATL to supply LFP batteries to Renault’s electric vehicle division, Ampere.
Also in July, Envision’s Spanish plant began operations, which would develop and produce the latest generation of LFP batteries. EVE Energy’s U.S. joint venture, ACT, also broke ground, with a planned annual production capacity of prismatic LFP batteries reaching approximately 21 GWh. And Daimler Trucks will be a major customer for this production.
In June, ACC decided to abandon its ternary battery technical route and shifted to the more cost-effective LFP battery technical route.
Moreover, Mercedes-Benz plans to fully integrate LFP batteries into its next-generation electric vehicle models. Stellantis intends to launch electric vehicles using LFP batteries in Europe, and Verkor has indicated it will consider switching to the more affordable LFP battery solutions.
However, overseas companies are currently in the validation testing phase for LFP batteries. Once they complete validations ranging from market to technology and other such aspects, demand is expected to rise further.
Some institutions predict that by 2030, the total demand for power and energy storage batteries in Europe will reach 1,500 GWh, with approximately half expected to use the LFP batteries route.
Source: WeChat Official Account—锂电派
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