The lithium iron phosphate battery (LiFePO 4 battery) or LFP battery (lithium ferrophosphate) is a type of lithium-ion battery using lithium iron phosphate (LiFePO 4) as the cathode material, and a graphiticcarbon electrode with a metallic backing as the anode.
Because of their low cost, high safety, low toxicity, long cycle life and other factors, LFP batteries are finding a number of roles in vehicle use, utility-scale stationary applications, and backup power.[7] LFP batteries are cobalt-free.[8] As of September 2022, LFP type battery market share for EVs reached 31%, and of that, 68% were from EV makers Tesla and BYD alone.[9]Chinese manufacturers currently hold a near monopoly of LFP battery type production.[10] With patents having started to expire in 2022 and the increased demand for cheaper EV batteries,[11] LFP type production is expected to rise further and surpass lithium nickel manganese cobalt oxides (NMC) type batteries in 2028.[12]
The specific energy of LFP batteries is lower than that of other common lithium-ion battery types such as nickel manganese cobalt (NMC) and nickel cobalt aluminum (NCA). As of 2024, the specific energy of CATL's LFP battery is currently 205 Watt-hours per kilogram (Wh/kg) on the cell level.[13]BYD's LFP battery specific energy is 150 Wh/kg. The best NMC batteries exhibit specific energy values of over 300 Wh/kg. Notably, the specific energy of Panasonic’s “2170” NCA batteries used in Tesla’s 2020 Model 3 is around 260 Wh/kg, which is 70% of its "pure chemicals" value. LFP batteries also exhibit a lower operating voltage than other lithium-ion battery types.