Lithium iron phosphate (LFP) will be the dominant battery chemistry over nickel manganese cobalt (NMC) by 2028, in a global market of demand exceeding 3,000GWh by 2030.
China’s share of the lithium-ion battery cell production capacity market is set to fall from 75% in 2020 to 66% in 2030, according to Clean Energy Associates in a new report.