Why does the low price of lithium iron phosphate make it more widely used?

　　(1) Why does the low price of lithium iron phosphate make it more widely used in various fields? For new energy vehicles, the battery is the heart of the vehicle, and also related to the vehicle mileage and vehicle safety. According to the types of existing pure electric vehicle power lithium batteries, they are divided into ternary lithium ion batteries and lithium iron phosphate batteries. Driven by policy and market factors, some electric vehicle companies gave up ternary batteries and chose lithium iron phosphate batteries instead. 48V lithium iron phosphate battery has lower price and wider application range. The market development trend of lithium iron phosphate battery is in terms of cost. At present, the market quotation of lithium iron phosphate battery has dropped below 0.7 yuan wh, while the price of ternary battery hovers around 0.9 yuan wh. The adoption of lithium iron phosphate battery by automobile enterprises can save automobile production costs and reduce automobile prices. Secondly, for lithium iron phosphate batteries, the relatively mature battery industry chain and the improvement of battery energy density are no worse than those of ternary lithium ion batteries in use.

　　(2) Since 2019, the cost of new energy vehicle manufacturers has been under pressure as the national subsidies have fallen more than expected. From the market quotation of the two batteries, the data shows that in 2019, the market quotation of lithium iron phosphate battery is lower than 0.7 yuan wh, while the price of ternary battery hovers around 0.9 yuan wh. Obviously, the price of lithium iron phosphate battery is very low, and the gap between the two is beginning to widen. On the one hand, the increase in demand for lithium iron phosphate batteries is related to the national subsidy policy for new energy vehicles. On the other hand, automobile safety is one of the most concerned problems for consumers. In recent years, auto self ignition accidents have occurred continuously. In April alone, Tesla, Vale, BYD and other new energy vehicles caught fire one after another, which made the whole industry pay attention to safety issues. Therefore, when returning to lithium iron phosphate battery, the temperature of thermal runaway is much higher and the safety is much higher. Therefore, under cost control, its security advantages also increase its demand. Reduce cost and realize large-scale application. According to the energy density of lithium iron phosphate battery, lithium iron phosphate battery with monomer energy density of 180whkg has been mass produced in the market, and its performance is close to ternary 523. The breakthrough in energy density, coupled with the inherent safety and cycle performance of lithium iron phosphate, has also been pursued by the market.

　　(3) In general, the deep reason for the revival of lithium iron phosphate batteries is that consumers in the pure electricity market pay more attention to safety than to mileage. In the choice of pure electric vehicle technology route, automobile companies have shifted from performance to vehicle safety. The prospect of lithium iron phosphate battery is worth looking forward to. In 2020, the new energy automobile industry will enter the era of no subsidy. When the policy orientation turns to the market orientation, the focus of automobile enterprises will also shift from "obtaining higher subsidies" to "occupying more market shares". The compound growth rate of lithium iron phosphate battery shipment is expected to exceed 30% from 2018 to 2022, which will have a significant impact on the market pattern of various existing power lithium battery technology routes. It is expected that the market share of lithium iron phosphate battery will increase significantly in the next 2-3 years. The use of lithium iron phosphate battery in the incremental electric vehicle market can not only improve the safety of vehicles, but also support the marketization of incremental electric vehicles, and alleviate the anxiety about the mileage, safety, price, charging and subsequent battery problems of pure electric vehicles. With the rise of energy storage industry, power lithium battery companies have arranged energy storage business, opening up a new field for lithium iron phosphate batteries. It is reported that lithium iron phosphate battery has been widely used for frequency modulation at the user side and power grid side, and has become an important force in the field of energy storage.

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