NMC Battery technology will die soon while LFP Battery adoption will rise soon !!
Published on LinkedIn 2/9/2020 by Amit Kumar
“Worldwide sales of lithium salts are only about $1 billion a year. But the element is a vital component of batteries that power everything from cars to smartphones, laptops and power tools. With demand for such high-density energy storage set to surge as vehicles become greener and electricity becomes cleaner, Goldman Sachs, an investment bank, calls lithium “the new gasoline”.
Demand for cobalt is affecting battery markets, but luckily not all lithium-ion batteries require the metal. If you’ve been paying attention to the debate about lithium-ion battery materials, then you will know there is a Price problem with lithium, but the real market danger is with cobalt.
Despite their lower energy density, LFP batteries “are definitely safer and offer a cycle life far better than NMC batteries,” Plus, they also work for stationary storage and there are many companies that can supply them. NMC Lithium cells are more Vulnerable to explode & catch fire due to its chemistry design (higher energy density, more often fails at Nail penetration testing at Testing).
Read the entire article here: https://www.linkedin.com/pulse/lfp-nmc-lithium-battery-technology-die-soon-while-adoption-kumar-/