Lithium iron phosphate (LFP) batteries have solidified their throne in Q3 2025, capturing 40%+ of global EV market share with unbeatable cost-safety balance. Amid lithium price dips (30% since Q1), LFP prices fell to $50/kWh, per S&P, undercutting NMC by 20-30% and fueling 48% China EV penetration.
BYD’s second-gen Blade Battery (November 2024, scaling August) hits 205 Wh/kg, boosting range 10% for Tesla Model 3 in China.
Nissan’s early 2025 LFP plant certification eyes Japan localization.
LMFP variants, blending manganese for 15-20% density gains (220 Wh/kg), ramped: Dynanonic’s 110,000 tpa facility (Qujing, June) and Gotion’s 20 GWh Michigan plant (2025 start).
Going forward, LFP will consolidate its dominance in China and gain share elsewhere, too.
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