At the start of this year, Tesla CEO Elon Musk signaled the return to the LFP formula, and the shift seems natural from the look of things. Analysts agree that LFP is viable, and that is considering several attributes. Some of those attributes include cell design, LFP chemistries, resource availability, price, recyclability, and safety.
The shift is expected to spark a significant impact
Many people termed Musk’s recent statements bullish in line with the older and the cheaper lithium-iron-phosphate cells. However, Tesla says the shift will touch across all the storage products it manufactures and a section of the entry-level EVs.
Elon disclosed the company’s plan to make about two-thirds of its batteries iron-based. He added that the one-third would be mainly nickel-based. Analysts have applauded the company’s shift in attitude, citing that it is a good move because of iron availability globally.
Musk’s statements aren’t relatively new to most people. Reports indicate that the entire automotive sector has been rethinking the similar move Tesla is making. The situation outside China is a subject worthy of reflection. Such sections have over the years relied upon nickel-manganese-cobalt and nickel-based products.
It has been an ongoing wave
The latest chemistry seems to have taken center stage for the various automakers, and many reasons continue to be cited in that regard. Some of the automakers seem rather impressed, such as the higher energy density that makes it easy for the companies to enhance the range of their batteries.
Interestingly, Musk isn’t the only official that has come to the limelight to speak about the shift. Other company leaders have echoed the same sentiments, one of them being the Ford CEO Jim Farley. The official disclosed that they intended to use the LFP batteries in some of their commercial vehicles. Other companies seek to follow suit.