The BYD Co E-Seed GT electric concept vehicle at the Auto Shanghai 2019 show in China, in 2019. BYD Co said its latest cobalt-free battery will be in a new sports-utility model from the middle of this year. — Bloomberg
Electric-vehicle manufacturers in China are seen turning to cheaper batteries to slash costs and meet the needs of drivers in its megacities who don’t need to travel huge distances.
There’s been resurgent interest in lithium-iron-phosphate (LFP) batteries since the middle of 2019 when China started to rein in subsidies that had spurred adoption of more expensive, longer-range units using materials such as nickel and cobalt. The cost-competitiveness, safety and low sensitivity to commodity price dynamics of LFP batteries are boosting their popularity in the country, according to a report by BloombergNEF.
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