According to the latest data from the Passenger Association, in the new energy vehicle power battery, lithium iron phosphate battery has grown significantly, accounting for more than half of the passenger car segment.

　　Lithium iron phosphate materials due to the low-cost advantage, the proportion has gradually expanded, has become a common choice in the field of commercial vehicles. Due to the climbing cost of battery materials, ternary material batteries in passenger cars installed this has continued for many months lower than lithium iron phosphate batteries, the cumulative proportion of 2022 has also been less than 50%.

　　You know, in 2019, the market more than 80% of the cell material is ternary materials, when lithium iron phosphate accounted for only a little more than 4%.

　　In recent years, lithium iron phosphate surged, 2019, 2020, 2021, 2022, January-August in the passenger car sector installed capacity accounted for 4.2%, 13%, 39.4%, 50.9%, respectively.

　　Lithium iron phosphate installed capacity of the sudden surge in natural and BYD sales surge is directly related to the current BYD blade battery is lithium iron phosphate.

　　January to August, the cumulative production of new energy vehicles 4.074 million units, BYD cumulative sales reached 980,000 units, only 270,000 units during the same period last year, an increase of 267%.

　　BYD Group Chairman and President Wang Chuanfu said: the current trend, the Chinese new energy market in 2023 can reach 9-10 million units, BYD is ready to hit 4 million units of sales.

　　I don't know when the label of ternary lithium batteries is no longer high energy density, but has become high cost and unsafe. And the blade battery led by lithium iron phosphate batteries, the more emphasis on promoting their own safety, the more delicate the situation of ternary lithium batteries.