Expansion of lithium iron phosphate in overseas markets

The application of lithium iron phosphate batteries in overseas markets is gradually expanding. Since 2023, many overseas automakers such as Stellantis, General Motors, Hyundai Motor, and Volkswagen have expressed their consideration of using lithium iron phosphate batteries and have made relevant arrangements. In addition, South Korean companies such as Samsung SDI, LGES, and SK On have also announced plans to add lithium iron phosphate battery production lines. Industry experts believe that as the recognition of lithium iron phosphate batteries in the international market increases, its share of installed capacity in the international market will also increase.