International automakers increase investment in lithium iron phosphate batteries

In recent years, automakers such as Tesla, Volkswagen, GM, Ford, and Northvolt are increasing the installation of lithium iron phosphate batteries. Traditional international ternary battery giants Samsung SDI, LGES, and SK On have also announced plans to add lithium iron phosphate battery production lines. LGES recently signed an order for 160,000 tons of lithium iron phosphate cathode materials with Longpan Technology, marking the official overseas expansion of China's lithium iron phosphate material supply system.