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Organizations mentioned or cited on this 2025 report page. A historical mention does not establish current products, availability or endorsement.
Sources and links on page 153 (12)
Links embedded in the original report PDF, including citations and other references. These destinations have not been independently reviewed. Links open in a new tab.
- https://www.iea.org/reports/global-ev-outlook-2025/electric-vehicle-batteries
- https://about.bnef.com/insights/clean-transport/lithium-ion-battery-pack-prices-fall-to-108-per-kilowatt-hour-despite-rising-metal-prices-bloombergnef/
- https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/the-battery-chemistries-powering-the-future-of-electric-vehicles?
- https://www.catl.com/en/news/6239.html
- https://carnewschina.com/2025/11/07/byd-doubles-down-on-lfp-batteries-safety-first-for-chinas-evs/
- https://carnewschina.com/2025/07/16/tesla-to-launch-new-model-3-variant-with-updated-battery-and-longer-range-in-china/
- https://media.ford.com/content/fordmedia/feu/en/news/2023/02/16/lfp-batteries-to-expand-powertrain-choice-for-mustang-mach-e-as-.html
- https://insideevs.com/news/720396/2025-rivian-r1s-r1t-lfp-battery-heat-pump/
- https://www.electrive.com/2025/02/11/stellantis-could-use-lfp-batteries-from-byd/
- https://www.electrive.com/2025/10/16/with-lfp-battery-order-start-for-the-base-version-of-the-mercedes-cla/
- https://www.volkswagen-group.com/en/press-releases/made-in-europe-volkswagen-powerco-and-elli-launch-pioneering-battery-and-energy-technologies-19801
- https://www.toyota-europe.com/news/2023/battery-technology
Text on page 153
LFP is Positioning Itself as the Default Battery Chemistry for Affordable EV Segments Globally LFP chemistry is growing on the EV market ELECTRIC VEHICLE BATTERY SALES SHARE BY CHEMISTRY AND REGION (%), 2022-2024
The share of Lithium‐iron phosphate (LFP) batteries in global EV battery sales rose from about 38 % in 2022 to over 41 % in 2023, and reached nearly 50 % in 2024. China continues to lead LFP adoption, reaching a 75% market share domestically in 2024. Meanwhile, Europe is showing rapid growth, doubling its share to 10%.
Why LFP is winning?
Source: IEA
Cost Advantage: LFP packs average $81/kWh, nearly 40% cheaper than NMC ($128/kWh) in 2025,with a more resilient cobalt and nickel-free supply chain.
Safety & Durability: Superior thermal stability and higher cycle life, ideal for high-utilization vehicles.
Breaking Density Barriers: New products (e.g., CATL Shenxing PLUS) now reaches 200 Wh/kg, closing the range gap with NMC.
Global OEMs Ecosystem using LFP batteries:
Pioneers: BYD (full lineup) & Tesla (Model 3 SR).
Western scaling: Ford (Mach-E), Rivian (R1 Standard), and Stellantis (ë-C3 / Grande Panda), Mercedes-Benz, VW, and Toyota.
Extracted from the PDF; charts and images may read imperfectly.
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