🔋 Shifting Market Share in EV Battery Chemistries
The EV battery landscape is evolving rapidly. According to McKinsey & Company, L(M)FP batteries are projected to grow at a 28% CAGR between 2023–2030, nearly double the 15% CAGR of NMC.
Why this matters for OEMs:
✅ Lower cost per kWh → enables more affordable EV models
✅ Safer chemistry → reduces thermal runaway risks
✅ Energy density improving → competitive driving ranges
✅ Cell-to-pack optimization → lighter, more efficient packs
For supply chains, the shift means:
⚡ Nickel & cobalt demand softening
⚡ Manganese & phosphate demand rising
⚡ Lithium remains critical, but price volatility is a risk
At HCM, we’ve been developing LMFP materials for over a decade in Taiwan, helping OEMs and cell makers scale safer, cost-effective, and sustainable batteries.
The LMFP transition is here, and we are ready to support it.
#EVbatteries #OEM #SupplyChain #SustainableMobility #BatteryInnovation #Battery #ElectricVehicles #EVs #MaterialManufacturing #CathodeMaterial #LMFP
