From the perspective of the market, the current cost of Lithium iron phosphate batteries is lower than that of ternary lithium batteries. For A00-class miniature electric vehicles such as small ants, LiFePO4 batteries are mainly used for cost-effective considerations. Many domestic companies are gradually using ternary lithium batteries and Lithium iron phosphate batteries.
In addition, according to several "Catalogs" issued by the Ministry of Industry and Information Technology in 2019, the proportion of Lithium iron phosphate battery supporting vehicles is gradually increasing. In the first "Catalogue" this year, there were 73 models equipped with optional Lithium iron phosphate batteries, accounting for 50%; in the second batch of the "Catalog" this year, there were 49 models with optional Lithium iron phosphate batteries. It accounted for 58.3%; in the third "Catalog" this year, there were 164 models equipped with Lithium iron phosphate batteries, accounting for 61.9%; in the fourth "Catalogue" this year, lithium iron phosphate was optional There are 244 models of batteries, accounting for 69.7%. It is not difficult to find that the proportion of the fourth batch of "Catalog" is as high as nearly 70%, and the cumulative number of the four batches alone is as many as 530 models. Therefore, the number of models in the eighth batch of the "Catalogue" this year decreased because some models using Lithium iron phosphate batteries have basically been installed and entered a relatively stable period.