EV Battery Landscape

The evolution of EV batteries has transitioned from using lithium cobalt oxide, which is costly and less sustainable, to more accessible options like lithium iron phosphate (LFP) and ternary chemistries such as NMC. LFP batteries are cheaper and use abundant materials, but they sacrifice energy density compared to ternary options, which provide greater energy per kilogram but at a higher cost. Understanding these trade-offs is crucial as the industry continues to innovate.