Lithium iron phosphate(LiFePO4) batteries to replace ternary lithium batteries

In early 2022, due to frequent problems with lithium, nickel, cobalt ore, resulting in rapid growth in the price of raw materials for lithium batteries, compared to early 2021, the  price of 18650/2200mAH ternary lithium batteries has doubled, many  customers can no longer afford the current price of ternary lithium batteries. In such a market context, switching to LiFePO4 is a good alternative, as most of the raw materials for LiFePO4 are non-rare elements, so the price is only 10% up compared to last year. In view of the current form of ternary lithium battery, we suggest customers to choose an alternative solution for sample testing as soon as possible, and our company will fully cooperate with customers to complete the product replacement work and improve the price competitiveness of end products.