Fluctuating nickel and cobalt spot prices are prompting global automakers to alter battery chemistry compositions for standard-range electric vehicles. Supply chain security has surpassed raw cell density as the primary manufacturing metric.
Lithium Iron Phosphate Gains Market Share
Lithium iron phosphate (LFP) cells now account for over 40% of global EV production. While offering lower energy density than nickel-manganese-cobalt alternatives, LFP batteries provide lower unit costs and significantly longer thermal stability lifecycles.