What is the future prospects of lithium iron phosphate battery companies
Recently, the Ministry of Industry and Information Technology released the fourth batch of 2019 'New Energy Vehicle Promotion and Application Recommended Model List'. A total of 238 models were on the list. Guoxuan Hi-Tech provided a total of 20 models, ranking second in the industry. It is worth noting that Guoxuan Hi-Tech provides 12 models of special vehicles, and the number of supporting models ranks first.
Judging from the performance of the fourth batch of new energy vehicle recommendations, Guoxuan Hi-Tech products are favored by more and more models. This batch of Guoxuan Hi-Tech's supporting models comes from 11 car companies including JAC, BAIC New Energy, Zotye Automobile, Chery Commercial Vehicle, Chufeng Automobile, FAW Jiefang, and Shandong Yixing. These new and established car companies have chosen Guoxuan Hi-Tech as supporting equipment because of the recovery trend of lithium iron phosphate, Guoxuan Hi-Tech's leading product technology.
As the subsidy for new energy vehicles approaches, the return of lithium iron phosphate is more obvious. The recommended catalog of new energy vehicles issued by the Ministry of Industry and Information Technology also confirms this point. Since 2019, the Ministry of Industry and Information Technology has released four batches of recommended catalogues. Since the first catalogue, there have been more and more lithium iron phosphate models, and the proportion has increased from less than 50% to nearly 70%. There is no doubt that lithium iron phosphate power batteries will return.
As a representative enterprise of lithium iron phosphate batteries, the cylindrical lithium iron phosphate battery developed by Guoxuan High-Tech has a single energy density of 190Wh/kg. This product has been installed in JAC iEV7L Car use.
In addition to high energy density, the battery also has the advantages of low cost, long cycle life, and high safety. In the future, Guoxuan Hi-Tech plans to further increase the energy density of lithium iron phosphate batteries to 200Wh/kg. With safe, reliable and high-performance products, Guoxuan Hi-Tech has also pioneered the domestic use of lithium iron phosphate for passenger cars, and further expanded the application scenarios of lithium iron phosphate power batteries.
In this batch of new energy vehicle recommendations, the advantages of Guoxuan Hi-Tech's lithium iron phosphate are further revealed. According to the data, Guoxuan Hi-Tech provides a total of 20 models from 11 companies, ranking second in the industry.
In the field of special-purpose vehicles, the company’s 12 models are all lithium iron phosphate, and the number of supporting models ranks first; in the field of passenger cars, Guoxuan Hi-Tech is BAIC New Energy The matched lithium iron phosphate battery has an energy density of 142Wh/kg, which is the highest in this batch of passenger car models supporting lithium iron phosphate.
The industry believes that in recent years, with the improvement of the technical level of lithium iron phosphate power batteries, the current lithium iron phosphate has basically been able to replace some ternary power batteries.
With the continuous improvement of technology, lithium iron phosphate products will have broad market demand in the fields of commercial vehicles, passenger vehicles, and energy storage in the future. In particular, the new energy subsidy policy has gradually declined. Due to its obvious advantages in safety, service life and cost, lithium iron phosphate is expected to further increase in future demand.