Overseas car companies favor lithium iron phosphate batteries, accounting for more than 70% of the domestic market

Overseas car companies such as Tesla, Volkswagen, General Motors, Ford, etc. have increased their installed capacity of lithium iron phosphate batteries. Not only are they popular in the domestic market, but their export share in overseas markets is also increasing. According to data from the China Automotive Power Battery Industry Innovation Alliance, the market share of lithium iron phosphate batteries in domestic new energy vehicle installations continues to grow. In April, the market share exceeded 70%, significantly surpassing ternary lithium batteries.