Maybe the lithium non-believers should have a good read of this...

Maybe the lithium non-believers should have a good read of this article in full.

”This lithium battery market segment could grow 500% by 2030”

Mining January 20, 2021 | Bevis Yeo

Lithium-ferro-phosphate (LFP) batteries that are not reliant on critical energy metals such as nickel and cobalt are forecast to grow by a massive 500 per cent by 2030.

While LFPs have been used in transport applications where safety trumps energy density, the use of more efficient cell geometry and modifications to the LFP chemistry – including the addition of manganese – have addressed its lower energy density compared to other lithium battery (LiB) chemistries.

Lithium Australia (ASX:LIT) managing director Adrian Griffin noted in an announcement that the use of LFP simplifies the supply chain by reducing exposure to critical metals such as nickel and cobalt.

Its popularity is already starting to show with global demand for LFP rising more than 25 per cent over the last 12 months, bringing Chinese LFP cathode powder production to over 100,000t per annum.Additionally, while just two per cent of all LFP cathode powder production is located outside China, the growing demand for LFP batteries from electric vehicle (EV) manufacturers means there is a major opportunity to supply LFP into a market with little competition.