The new LFP batteries from CATLAccording to Autoevolution with the new M3P batteries, a Tesla Model 3 should be able to travel more than 700 km (435 miles) on one charge, in line with CATL promises. While the precise chemistry of the new batteries isn’t known, the new M3P battery is an improved version of the LFP chemistry where the iron (F) is replaced with a mix of magnesium, zinc, and aluminium. So the MP3 is still a lithium phosphate battery.
The magnesium, zinc, and aluminium mix substitution for iron is what increases the battery’s energy density while keeping costs low.