The evolution of EV batteries began with lithium cobalt oxide, which was initially used in early electric vehicles. Today, the industry has largely shifted towards lithium iron phosphate (LFP) and ternary chemistries like nickel manganese cobalt (NMC). While LFP batteries are cheaper and use abundant materials, NMC batteries offer higher energy density, making them a preferred choice for longer ranges. The ongoing development in battery technology reflects a balance between cost, weight, and performance.
