Yes cheaper and less chance of thermal runway than NCM cathodes. Apparently a better ambient temp range as well. All battery storage now is LFP.
I've wondered how this will impact Nickel demand going forward, however Nickel is used for other purposes such as stainless steel.
It will be difficult for the West to produce LFP cells at the same price point as China. China sources the phosphate components as a biproduct of their titanium industry. The West will have to make it, adding to the cost.
So for now I think the West will be making NCM batteries unless they source the LFP batteries from BYD or CATL etc.
WMG Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
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