US automakers favor Chinese companies' lithium iron phosphate batteries

Despite the restrictions of the US government on subsidies for the domestic new energy industry, many US automakers are still willing to cooperate with Chinese companies such as CATL, mainly because they want to use lithium iron phosphate batteries with higher cost performance. Currently, only Chinese companies can mass-produce lithium iron phosphate batteries, among which CATL is the world's largest lithium iron phosphate battery manufacturer.