• 5 hours Squid Game Rampage Fails to Lift Netflix Stock After Stellar Earnings
  • 2 days Did Big Bank Earnings Just Signal ‘Real’ Economic Recovery?
  • 4 days The Cannabis Industry Is Looking To Fill The Employment Gap
  • 6 days Earnings Beat Isn’t Enough for S&P 500 Q3
  • 8 days The New World Tax Order
  • 9 days Is Crypto Finally Ready To Pay The Piper?
  • 11 days Is It Time To Buy The Global Gaming Market Dip?
  • 13 days Even The Mafia Has A Millennial Problem
  • 16 days Zuckerberg Loses Billions in Social Media Outage
  • 17 days ‘Pandora Papers’ Leak Reveals More Financial Crime
  • 17 days US Retail Has A Major Supply Chain Problem
  • 21 days China Has Set Out To Crush Crypto...Again
  • 22 days Top Performing Cannabis Stocks of the Year
  • 22 days Millennials Could Power A 20-Year Bull Stock Market
  • 28 days The Million-Dollar Question: Will China Bail Out Evergrande?
  • 29 days 3 Restaurant Stocks In Full Recovery Mode
  • 30 days Bitcoin Is Driven By Testosterone
  • 34 days Quantum Computing Is The Newest Megatrend In Silicon Valley
  • 35 days How To Invest In The Cybersecurity Boom
  • 37 days Investors Are Patient With Unprofitable Giants
EV Metal Index Soars To Record Heights

EV Metal Index Soars To Record Heights

The MINING.COM EV Metal Index,…

Why Chinese Rare Earth Prices Are Soaring

Why Chinese Rare Earth Prices Are Soaring

The prices of Chinese-sourced rare…

Mining.com

Mining.com

Mining.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

Contact Author

  1. Home
  2. Commodities
  3. Industrial Metals

Tesla's Biggest Competitor Is Going Cobalt-Free

Cobalt

China’s BYD confirmed that it is going all-in on LFP (lithium-iron-phosphate) batteries, scrapping NCM (nickel, cobalt, manganese) technology from its model line-up entirely.

BYD, which is backed by legendary US investor Warren Buffet through a 21% stake,  is the second-largest electric vehicle brand by volume behind Tesla and also supplies other carmakers with its battery technology.  

The Shenzen-based company is not only touting its ‘Blade’ technology as a significantly cheaper option but is making much of the safety of LFP versus ternary chemistries, particularly those with high nickel and low cobalt content, which carry a greater risk of fire.

BYD chairman Wang Chuanfu told the South China Morning Post “some 124 incidents of NEVs emitting smoke were recorded in China last year.”

“Some industry participants have irrationally gone after NCM batteries [to chase after] ever-higher driving range, at the expense of stability and safety.”

BYD’s blade battery packs achieve the highest energy density among the current crop of LFP-equipped cars, vastly improving its biggest drawback – low driving range and long charging times.  

For its new Tang SUV, which is being exported to Europe, the company claims a 505km (314mi) range and a 30-minute charge time from 30% to 80%. The entry-level Tesla Model 3 sold in the US has a 263-mile range.

In a note, BMO Capital Markets says given BYD is “the industry leader in LFP this announcement isn’t too surprising, and has given them a good platform to put down their ternary competition, but it does once again reinforce that a wide portfolio of battery chemistries will be used for electric vehicles over the coming years. It is however a net negative for nickel and cobalt demand.”

By Mining.com

Back to homepage

Leave a comment

Leave a comment