At present, the mainstream of the market is still the lithium iron phosphate battery pack, which refers to the lithium ion battery with lithium iron phosphate as the cathode material. In the early stage of the development of new energy vehicles, lithium iron phosphate battery has become the first choice of major manufacturers due to its superior thermal stability, good safety, low development cost and other advantages.

However, with the continuous development of technology, ternary lithium-ion batteries with superior performance have emerged. In contrast, the energy density of lithium iron phosphate batteries is low. Under the same driving range, vehicles equipped with lithium iron phosphate batteries have higher deadweight, which directly leads to unsatisfactory energy consumption.

In addition, the national requirements for battery energy density of new energy vehicles are also increasing year by year. Limited by the problem of materials, the energy density of lithium iron phosphate battery is difficult to continue to improve, so many manufacturers slowly turn to the development of ternary lithium ion battery.