LFP Battery Breakthrough, a Sustainable Innovation in Electric Vehicles that could Make it to Market Soon: Benling India
#BenlingIndia #LFPBattery #ElectricVehiclesSafety advantages, long lifecycle, and lower costs have led EV makers to accept the trade-off of lower energy density in adopting LFP batteries. Also, the zero-emissions transport policies rolled out in response to rising fuel costs are ‘causing demand for lithium-ion batteries to skyrocket’.
July 2022 : Benling India, a 'Make in India' dedicated E2W manufacturing company based out of Gurugram, outlines the importance of LFP Batteries in Electric two-wheeler segment with key concerns in Electric Mobility. The EV automaker is transitioning towards LFP batteries for its entire E2W range within 2022.
The root of its LFP battery technology stems from its parent company, which produces and supplies LFP batteries in 84 countries, and has a production capacity of 1 lack units annually.
Safety advantages, long lifecycle, and lower costs have led EV makers to accept the trade-off of lower energy density in adopting LFP batteries. Also, the zero-emissions transport policies rolled out in response to rising fuel costs are ‘causing demand for lithium-ion batteries to skyrocket’.
The comprehensive shift in actual battery chemistries is building at scale with new demand, more investments, perhaps innovations in manufacturing itself, and multiple regulatory hurdles to cross.
LFP Battery is the answer to Electric Mobility in India. Its advantages make it an attractive option in power and energy applications over the more mature market technology of traditional NMC (nickel manganese cobalt) batteries. Both are Lithium Batteries, but they are very different in their constitution.
The nickel and cobalt metals, as critical raw materials for NMC batteries, have met difficulties recently. Nickel supply has been affected by the conflict between Russia and Ukraine, while cobalt, due to flooding in South Africa that led to the suspension of the Durban port, is challenged by potential global cobalt supply chain disruption.
But LFP supply chain is more stable compared with NMC batteries. And coupled with lower cost, LFP battery has become the star of the EV market globally.
In the face of carbon peaking and carbon neutrality strategies, LFP batteries will become increasingly important in the electric vehicle market and will also likely play a role in the energy storage market.
It can be reasonably predicted that the LFP battery will have massive potential shortly. Supply chain issues besetting the battery market are not likely to ease during 2022, particularly with EV demand rising in reaction to the rising price of oil and the ongoing raw materials commodity crunch. Nonetheless, many more new plants for battery manufacturing are expected soon.
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