The output of lithium iron phosphate battery has tripled compared with the same period last year, accounting for more than that of ternary battery.

The China Automotive Power Battery Industry Innovation Alliance recently released data on power battery production in May. Lithium iron phosphate batteries reached 8.8 GWH, accounting for 63.6 percent of the total output, an increase of 317.3 percent over the same period last year. In the first five months of this year, the output of lithium iron phosphate batteries totaled 29.9 GWH, accounting for 50.3 percent of the total output, an increase of 360.7 percent over the same period last year.

Lithium iron phosphate battery is being favored by more and more mainstream models. Industry insiders said that through nearly two years of technological innovation, the current range of 400 to 600 kilometers of lithium iron phosphate battery has been able to meet the needs of most passenger car owners, and has more advantages in terms of price.

According to the theme database of the Financial Associated Press, among the relevant listed companies:

China Nuclear Titanium dioxide plans to invest 12.1 billion yuan in the construction of lithium iron phosphate production line and supporting facilities, with a total annual output of 500000 tons of lithium iron phosphate; Longji Technology plans to acquire lithium iron phosphate assets of Beitri, and it is estimated that the production capacity of lithium iron phosphate will reach 70, 000 tons this year.