In its call for Q1 2022 results, Tesla announced that nearly a quarter of all EVs produced during the quarter were equipped with LFP (Lithium Iron Phosphate) battery cells that are free of nickel and cobalt. Battery technology in EVs has always been a topic of discussion and has become even more relevant recently, thanks to the surge in battery prices over the past year. LFP batteries still use light, they have many advantages over NCA and NCM standard batteries traditionally used in electric vehicles.
Tesla posted star numbers in the first quarter, beating Wall Street’s revenue and earnings estimates. The company announced $18.76 billion in revenue and $3.3 billion in profit, compared to $10.39 billion in revenue and $438 billion in profit for the same period last year. Fall on the quarterly record, says Musk “Never been more optimistic” about the company’s future, despite the two rising costs of revenue and the two persistent problems of benefit granting.
Tesla announced that nearly six feet of the cars it took out of its factories in the first three months of 2022 were equipped with LFP (lithium phosphate iron) batteries. In the official press release released Thursday, the company said its decision to adopt the new technology was largely based on what “Battery chemical diversification is fundamental to long-term capacity growth.” Tesla also says that LFP batteries are used in most of its battery-powered vehicles and commercial power-arming applications, and claims that a Model 3 with an LFP battery can withstand an EPA threshold of 267 miles. Hopefully the batteries will help Tesla save energy costs and improve results, as they are significantly cheaper than the alumina and cobalt (NCA) cells the company previously used for Model 3 sedans in the US market.
In terms of cost, LFP batteries have additional advantages over other radioactive ion chemicals, such as NCA and NCM. They use iron instead of cobalt or nickel and have a longer lifespan than their cobalt-nickel-aluminium equivalents. They also support faster loading and have a good history of security. All of these factors have led to ideas for use in VEs, although they are not as widely used as expected. The main reason for this is their lower energy density, meaning they provide less energy for the same weight than other cells. They are also more easily affected by cold climates.
Musk is a great defender of LFP batteries and several times they can be repeatedly charged to 100% capacity without wasting and shortening the life. Other battery cells are best charged to 90% to avoid rapid degradation. Although there is a speed difference of about 10 miles between battery types, the core of the LFP cells can be charged to 100% meaning that the owners will not be able to reach full capacity unless they are in the process of degrading.
Tesla also has another advantage that allows the use of LFP batteries in its base and range models – the transmission efficiency leads to the set. In accordance with a report from an asset manager ARK Invest, the superior efficiency of Tesla vehicles allows the company to offer an acceptable range with LFP batteries. Committed to its energetically efficient transmissions, Tesla can still offer more than 250 miles of speed in their padded cars with LFP batteries, something other manufacturers struggle with.
Source: Tesla, ARK Invest