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Currently, two of the common used lithium-ion chemistries--Nickel Manganese Cobalt (NMC) and Lithium Iron Phosphate (LFP) are dominating the EV battery market. In general, compared to LFP, NMC would have higher energy density, voltage and versatility, but it would have lower life cycle, stability and higher production cost. According to relevant research, the density of NCM523, 622 and 811 is around 160-200Wh/kg, 230Wh/kg,270Wh/kg respectively. However, the energy density of LFP is around 160-180Wh/kg.
TD consider that the energy density of NMC811 is significantly higher than that of NMC523 and NMC622 positively affecting battery performance, and NMC811 has achieved a balance between safety and energy density;thus it is the choice of the OEM. In addition, although NMC955 has a high energy density, it has a large safety hazard. There is currently no obvious trend of NMC811 shifting by NMC955 in next several years.
Comparison between different lithium-ion chemistries | |||
Criteria | NMC 811/955 | NCx | LFP |
Energy density | 280mAh/g: generally higher than alternatives | 150-280mAh/g:could reach similar to NMC levels | 170mAh/g: below competition,negatively affecting performance |
Voltage | 2.5~4.3/4.4V | 2.5~4.3/4.4V | 2.5~3.6V: below competition,negatively affecting performance |
Life cycle | 2000-3000 | 2000-3000 | More than 3000 |
Stability | Nickel has low stability but with development of technology the issue might be solved | Safety issues with high temperature | Acceptable thermal stability inherently safe |
Production costs | Higher production costs | Higher production costs | Lower production costs |
Versatility | Highest level of versatility can be tailored to offer specific energy or power | Lower level of versatility | High level of versatility, can be tailored to offer specific power |