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LMFP operates at a higher voltage than LFP, its theoretical energy density can reach up to 230 Wh/kg, which is 15% to 20% greater than that of LFP batteries.
CATL, BYD, and Gotion High-Tech are expanding production capacities and forming strategic partnerships according to battery expert Magnus Bekker.
LMFP production
CATL: Building a 120 GWh LMFP-capable plant in Sichuan, China, set to begin production in 2024.
BYD: Expanding into Europe with a new 20 GWh factory in Hungary, scheduled to come online in 2024.