LiFePO4 Battery And Sodium Ion Battery Fly Side By Side

On May 28, Xu Yanhua, secretary-general of the China Automotive Battery Innovation Alliance (Hereinafter referred to as the Battery Alliance), said at the press conference of the 2024 International Forum on Chinese Automotive Industry Development (IFCAID) that at present, China has built the world's most complete power battery industry chain.  The reason why China's power battery industry can achieve today's achievements is that it is very important to adhere to the parallel development of lithium iron phosphate batteries and ternary batteries.

According to the data released by the Battery Alliance, from January to April 2024, China's cumulative load of power batteries was 120.6 GWh, a cumulative increase of 32.6%. Among them, the cumulative load of the ternary battery 40.8GWh, accounting for 33.8% of the total load, a cumulative increase of 41.2%; The cumulative loading capacity of the LiFePO4 Battery was 79.8GWh, accounting for 66.1% of the total loading capacity, with a cumulative increase of 28.6%. Semi-solid batteries and sodium-ion batteries can be loaded into the car.

It can be seen from the above data that on the basis of the two main technical routes of terpolymer batteries and LiFePO4 Battery, battery products of different technical routes such as semi-solid batteries and sodium-ion batteries are accelerating to the stage of commercial application. From a global point of view, safer, higher specific energy liquid lithium-ion batteries, and solid-state batteries are an important direction, the whole industry is also gathering to overcome the problem of high specific energy liquid batteries and solid-state batteries industrialization.

For China, before 2030, China's power battery industry will still be a market pattern dominated by high-specific energy liquid batteries and LiFePO4 batteries. At the same time, the proportion of solid-state batteries and sodium ion batteries used in the vehicle will increase and is expected to reach 10% or more. Sodium ion battery will occupy a certain market position in the field of energy storage batteries.

Experts said that energy storage batteries are an important opportunity for the development of China's power battery industry. China's battery industry has seized the development opportunity of energy storage batteries and has formed a development situation of power batteries and energy storage batteries flying together. In 2023, China's energy storage battery shipments accounted for more than 15%, accounting for about 17% of battery exports. According to the prediction of the energy storage market, the energy storage batteries in the future global energy storage market will account for about 30% of the total battery shipments, and the development of energy storage batteries will certainly enable the construction of a new power system in China.

The International Energy Agency (IEA) also expects that by 2030, global new energy vehicle sales will reach 13 times that of 2021, renewable energy will account for 80% of new energy installed capacity, of which solar energy accounts for more than half, and more than 50% of the growth is in China.