Research

LFP vs. NCM - Which Is The Trend?

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Algo Research Team

Industry | Jan 27, 2024 | Views: 493

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Key Summary:

  • Why LFP is gaining popularity
  • Applications of LFP
  • EVs trend by battery in Indonesia

The topic of Lithium-ion with LFP cathodes has recently piqued the interest of Indonesian politicians leading up to the Presidential election. Back in April 2023, we discussed (read here) the use of nickel on EV batteries and how Indonesia’s pursuit to corner the nickel market for EV batteries needs to take into account the growing preference and availability of LFP.


According to an analysis done by International Energy Agency (IEA), the use of LFP battery for LDV (Light Duty Vehicle) has increased from 7% in 2018 to 27% in 2022, the highest market share in the past decade. We acknowledge that the majority still use NCM with 60% market share while NCA is about 8%.

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