Tesla said Wednesday it will use steel-based batteries for the standard Model 3 and Model Y in global markets. Tesla had been laid off months ago over the growing role of cheaper battery chemistry in its lineup.Lithium-Iron-Phosphate (LFP) batteries use older, cheaper battery chemistry. And it is popular in China.
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Outside of China, most EV batteries are nickel-based. Either nickel-manganese-cobalt or nickel-cobalt-aluminum But in addition to cost savings LFP battery cells are also attractive because they do not rely on extremely scarce raw materials such as cobalt and nickel.
Specifically, Tesla CFO Zach Kirkhorn confirmed during a call on Wednesday that the company has seen a price impact on nickel and aluminum.One of the main reasons why LFP batteries are rarely seen outside of China. Associated with several important LFP patents which enable
the country to dominate the LFP market.
But those patents will expire soon. And Tesla seems to be keeping an eye on that time frame. The executives suggested that the company intends to bring the production of LFP batteries to the same location where the cars are made.
