Is there a room for NEVS in the domestic battery industry?

However, readings also show that the domestic battery industry still faces an excess in production capacity, in comparing output with installed capacity, implying a large room for application of NEVs in the country. Meanwhile, another trend is to eliminate batteries that have low energy densities and short driving ranges from the market.

What are ternary lithium batteries?

Ternary lithium batteries use three metal oxides as cathode material, with the most common combination as either nickel, cobalt, and manganese (NCM), or nickel, cobalt, and aluminum (NCA). Lithium iron phosphate (LFP) batteries, a prospective market leading battery type, uses LFP its as cathode material.

Should NCM/NCA batteries be switched to LFP batteries?

NCM/NCA batteries use nickel and cobalt, which are largely imported due to the shortage of domestic resources. Considering that Chinese regulators are phasing-out NEV subsidy policies, switching to LFP batteries can help both battery makers and NEV producers reduce their manufacturing costs.

Who is harveypow batteries?

HARVEYPOW, founded in 2011 and based in China, specializes in high-performance lithium-ion batteries for a range of applications. Despite limited details on technology, patents, and market share, the company’s diverse usage and focus on quality highlight its role in the industry.