Lithium Iron Phosphate Shines in Europe and The United States, and The Power Battery Landscape is Undergoing Tremendous Changes!

With its strong cost advantage, lithium iron phosphate batteries have achieved a gorgeous "counterattack" in the global wave of automobile electrification. This key power technology led by China is dominating the expansion of production capacity in Europe and the United States! As the first lithium iron phosphate battery factory in North America is about to be completed, Tesla is pushing the low-price revolution it leads to the core market. This wave has swept the world's top automakers: Volkswagen Group has deployed a lithium iron phosphate battery factory in Germany through PowerCo, Ford has joined hands with the "lithium iron phosphate battery suppliers" giant CATL to settle in Michigan, and General Motors has joined hands with the Korean giant LGES to build an advanced lithium iron phosphate battery production line in the United States, while promoting Samsung SDI to transform its production line to lithium iron phosphate battery technology; even the European pioneer ElevenEs has put into production a rechargeable battery production facility focusing on LFP in Serbia. The core driving force of this transformation driven by lithium iron phosphate batteries lies in its significant cost advantage - the Chevrolet Equinox equipped with such lithium iron phosphate batteries is priced as low as US$33,600, and even less than US$25,000 after tax credits, greatly lowering the threshold for electric vehicles. The global production capacity explosion, especially the new round of overseas factory construction led by Chinese and Korean lithium iron phosphate battery suppliers, has undoubtedly strengthened the leading advantages of Chinese companies in the core industrial chain of lithium iron phosphate batteries and the development of rechargeable battery technology, and reshaped the global power battery competition blueprint.