All articles tagged with #lithium iron phosphate
Ford aims to sell over 100,000 units of its $30,000 Fathom EV pickup in its first year—an annual volume only Tesla has reached—driven by a new cost-focused platform, an 'assembly tree' production method, and cheaper lithium iron phosphate batteries; orders open in early 2027 with production planned for fall next year at Louisville, as Ford presses ahead after canceling the F-150 Lightning.
General Motors is leading a $60 million financing round in Mitra Chem, a California-based startup focused on developing lower-cost batteries for electric vehicles (EVs). Mitra Chem is working on new types of batteries based on lithium iron phosphate chemistry, which eliminates the need for expensive minerals like cobalt and nickel, making them more affordable. While LFP cells have lower power density than standard cells, Mitra Chem is adding manganese to increase power density while retaining the cost advantage. If successful, these batteries could be used in GM vehicles in the future.
ICL Specialty Products has broken ground on a $400 million facility in St. Louis to produce Lithium Iron Phosphate (LFP), a key component used in electric vehicle (EV) batteries. The facility, expected to be operational by 2025, will produce 30,000 metric tons of LFP and received $197 million in federal grant funding. The governor and US Secretary of Energy attended the groundbreaking, emphasizing the importance of domestic production for EV components to compete with overseas companies. The move is seen as a potential revitalization of manufacturing in the area, although some skepticism remains regarding EV affordability and reliability.