The Battery Evolution: LFP vs. NMC

This chapter explores the complexities of lithium iron phosphate (LFP) and nickel manganese cobalt (NMC) batteries, analyzing their advantages, disadvantages, and suitability for various electric vehicle applications. It highlights the shift in consumer preferences toward functionality over range and the geopolitical challenges of developing a domestic supply chain for battery production. Additionally, the chapter evaluates the rapid industrialization of LFP technology in China and the implications for global manufacturing and competition.