Ultimately, LFPs will drive accelerated consumer adoption of EVs by reducing the price barriers to EV ownership. Currently, 51% of an EV’s sticker price is related to the battery7. In addition, a move away from a heavy reliance on cobalt will push the industry to a more ethical supply chain, while the benefits that LFPs offer translate into a more environmentally sustainable battery ecosystem and greater efficiency for battery second life applications.
1Dafydd Davies. Restrictions on sourcing of cobalt are changing. pv magazine, March 10, 2020.
2Bridie Schmidt. Tesla has been using high-energy nickel 4680 batteries for months. The Driven, September 28, 2020.
3Nickel price. (2021, January 11). Retrieved from https://markets.businessinsider.com/commodities/nickel-price.
4Aluminum price. (2021, January 11). Retrieved from https://markets.businessinsider.com/commodities/aluminum-price.
5Manganese price. (2021, January 11). Retrieved from https://tradingeconomics.com/commodity/manganese.
6BU-205: Types of Lithium-ion. (2021, January 11). Retrieved from https://batteryuniversity.com/learn/article/types_of_lithium_ion.
7Gustavo Henrique Ruffo. How Much Does The Powertrain Represent Out Of Total Cost For An EV? InsideEVs, February 5, 2020.