And just recently, according to the Power Battery Industry Innovation Alliance released monthly power battery data for May 2021, the output of LiFePO4 batteries reached 8.8GWh, accounting for 63.6% of the total output, an increase of 317.3% year-on-year. From January to May this year, the cumulative output of LiFePO4 batteries reached 29.9GWh, accounting for 50.3% of the total output, a cumulative increase of 360.7% year-on-year.
As of the end of 2020, the output of ternary lithium batteries and LiFePO4 batteries accounted for 58.1% and 41.4%, respectively. Nowadays, LiFePO4 batteries have successfully achieved overtake, occupying a higher proportion.
Judging from the latest loading data, in May, the total installed capacity of LiFePO4 batteries was 4.5GWh, a year-on-year increase of 458.6% and a month-on-month increase of 40.9%. The gap with ternary lithium batteries is also shrinking. From January to May this year, LiFePO4 loading volume totaled 17.1GWh, accounting for 41.3% of the total loading volume, a cumulative increase of 456.6% year-on-year.
The substantial jump reflects the hot sales of some models equipped with this battery. Take the domestic Tesla Model 3 as an example. The standard battery life version uses the LiFePO4 battery provided by the Ningde era. In addition, it’s said that the Model Y equipped with LiFePO4 batteries is also on the line and will meet with end consumers in July.
Up to now, after excluding the long-life version and performance version of the ternary lithium battery provided by LG Chem, the sales of these 2 models added can still easily exceed 10,000 in Chinese Market.