• 315 days Will The ECB Continue To Hike Rates?
  • 315 days Forbes: Aramco Remains Largest Company In The Middle East
  • 317 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 717 days Could Crypto Overtake Traditional Investment?
  • 721 days Americans Still Quitting Jobs At Record Pace
  • 723 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 726 days Is The Dollar Too Strong?
  • 727 days Big Tech Disappoints Investors on Earnings Calls
  • 728 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 729 days China Is Quietly Trying To Distance Itself From Russia
  • 730 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 734 days Crypto Investors Won Big In 2021
  • 734 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 735 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 737 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 737 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 741 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 741 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 742 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 744 days Are NFTs About To Take Over Gaming?
The Deep-Sea Mining Debate

The Deep-Sea Mining Debate

Deep-sea minerals could meet the…

The Unsung Hero In The Race To Go Green

The Unsung Hero In The Race To Go Green

A team of international scientists…

Chinese Panic Buying Could Fuel A Copper Rally

Chinese Panic Buying Could Fuel A Copper Rally

Copper was once again approaching…

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