LiFePO4 battery widely used in market
Due to advantages in safety, super life-sapn, long cycle life and non-heavy metals, non-toxic, nopollution with ROHS regulations, lithium iron phosphate batteries are widely used in electric vehicles, power tools, electric bicycles, energy storage devices, etc. For now, they are mainly used as power batteries for electric vehicles. In 2014, some 12,500 tons of lithium iron phosphate were sold globally, and they were mainly sold to China, almost accounting for 75% of the total. That was mainly because Chinese electric vehicle enterprises tend to adopt lithium iron phosphate as power batteries of cathode materials. Additionally, China's great support for new energy vehicles has promoted the rapid increase of the country's demand for lithium iron phosphate. In contrast, cathode materials for power batteries in the US, Japan, and South Korea are dominated by ternary material and lithium manganate.
The application of lithium iron phosphate batteries in energy storage, photovoltaic and communication batteries is on the rise, reflecting a huge space for development. In the field of electric bicycles, the batteries have obvious advantages over the traditional lead-acid batteries, hence a larger alternative space.