Battery price and range versus EV AdoptionCATL are now outputting large LFP (Lithium Iron phosphate) batteries that can extend ranges over the 1000 km mark.
Having put away the use of more expensive materials such as Cobalt and Nickel the LFP technology also offers a lot more charging cycles.
So eliminating some rare metals and driving down the price of the main ingredient "LITHIUM" was the way to go for CATL for producing cheaper batteries.
If memory serves, they had publically declared that would cut battery prices in half more than 18 months ago.
So their cheaper LFP batteries are powering most of the cheaper chinese EV's. We also know that the more energy dense NCM batteries sometimes make up to 40% of a North American EV cost.
Tesla has cut prices to compete in China by going with LFP as well and we hear that many model 3's coming to Canada now have LFP batteries.
On the flip side, to adress the range anxiety present more so in North America and Europe, supplying a long range with lower power density batteries, means building bigger and heavier batteries. So the newly announced LFP batteries in EV's such as Xiaomi SU7 that can go over 100km are BIG.....They have a 132kw and a 150kw battery to do so.
"The basic version of the SU7 with rear-wheel drive and a 73.6 kWh battery with LFP cells from BYD is available from the aforementioned 215,900 yuan, or around 27,600 euros." (40,400$ cdn)....and it can go 700 km !
All this is good news if you asked me. The EV market is now ajusting to this new improved tech and cheaper cars with longer range will be fueling the next Lithium "Bull Run" or if you prefer. "Lithium 3.0"