BYD Will Launch New Lithium Iron Phosphate Battery

- Aug 26, 2019-

Under the situation that the subsidies for new energy vehicles have fallen sharply, the lower-cost lithium iron phosphate battery has a “recovery” trend. BYD, which was once the representative of this technical line, once again exposed plan for researching and producting new iron lithium battery. On August 22nd, BYD's performance exchange meeting revealed that the new generation of iron-lithium batteries, which will be launched in May-June next year, will increase the energy density by 50%, the life span will be 1.2 million kilometers for 8 years, and the cost can be saved by 30. %. The dispute about route between lithium iron phosphate and ternary batteries has a long history. The former has the advantages of high stability and lower price, BYD has been working hard to break through the ceiling of its energy density. In 2018, BYD has stated that the energy density of lithium iron phosphate cell is 165Wh/kg and 140Wh/kg of pack. In the next two years, they plan to increase the energy density of cell to 180Wh/kg and the energy density of pack to 160Wh/kg.

In actual market applications, before 2017, lithium iron phosphate accounted for 70% in the new ennergy vehicle market. After the new energy subsidies were tilted toward high energy density and high endurance models, the market for lithium iron phosphate batteries decline compared to

the last year. However, the new energy subsidies have been declining more and more. In the view of cost pressure, car companies will turn its attention to ternary material with lower cost.

According to data from the China Chemical and Physical Power Industry Association, the market price of lithium iron phosphate battery cells has dropped below 0.7 yuan/Wh in 2019, and the price of ternary battery cells is around 0.9 yuan/Wh, and the difference between lithium iron phosphate and ternary batteries will increase.

BYD began to supply batteries to the outside since 2018, and will split the entire battery business in the future to achieve independent listing. The successful implementation of the new generation of lithium battery plans will greatly benefit BYD's competitiveness in power battery and new energy policies, and will help consumers to purchase longer, safer and lower cost. New energy car.