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LxFP Retains Cost Advantage Over Nickel-Rich Batteries AVERAGE BATTERY CELL PRODUCTION COSTS, CHINA, 2024 $/KWH NMC 811 remains the most expensive chemistry compared to LxFP and emerging NMC based chemistries, despite falling nickel and cobalt prices. Medium-nickel high-voltage NMC has emerged as a lower-cost alternative to high-nickel NMC while offering comparable energy density. The LxFP family, due to the absence of expensive raw materials and more efficient lithium utilisation, are leading the way for low production costs. High-compaction-density LFP cathode material may enable cell cost reductions of up to 3%, continuing the trend of incremental improvements to incumbent chemistries.
Source: Content & analysis provided courtesy of CRU Group (Distinguished Partner). For more information, visit https://www.crugroup.com.
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