LFP Batteries

LFP batteries led ternary batteries in China for the seventh consecutive month.

BYD ranks second with 25.06 GWh of installed power battery capacity and 16.2 percent market share in 2021.

For the full year 2021, LFP batteries accounted for 51.7 percent of all battery installations, higher than the 48.1 percent for ternary batteries.

From January to November, CATL's installed base was 65.93 GWh and its market share was 51.4 percent.

From January to November, the cumulative installations of LFP batteries was 64.8 GWh, also surpassing the 63.3 GWh of ternary materials for the first time.

That lead narrowed in October, as LFP battery installations fell 11.6 percent from September, while ternary battery installations rose 13.5 percent from September.

Daiwa Securities believes that 10 GWh of installed battery capacity could translate into close to 200,000 vehicles, which could be supplied not only to the Shanghai plant, but also to factories in Berlin or the US.

In the first nine months, China's power battery installed base was 92.0 GWh, up 169.1 percent year-on-year, with ternary batteries still taking the lion's share.

Models equipped with the new 75 kWh battery are now available for orders, and will be delivered to users from this November. Prices are the same as models with the previous 70-kWh pack.

Nio is said to unveil a 75-kWh ternary and LFP hybrid pack on Sept 23, which is expected to cost less but have a longer range than the existing 70-kWh version.