Light-duty vehicle are expected to be the largest source of demand for advanced battery technologies over the next two decades, and changes to chemistries used in passenger vehicles have significant impacts on the industry's supply chain – and a major change is currently underway. Ni-based cathode chemistries like NCA and NMC have dominated the light-duty vehicle market over the past few years; in the first half of 2020, Lux found that 98.4% of Li-ion batteries used in vehicles contained Ni-based cathodes. However, LFP is seeing a resurgence due to concerns over nickel availability and its relative safety, which enables cell-to-pack architectures for better performance and costs. Innovation hasn't stopped at the vehicle, though, as LFP performance has advanced dramatically of late. Hefei Guoxuan (also know as Gotion), China's third-largest cell manufacturer, which counts VW as a part owner, recently announced a new LFP cell with a specific energy of 210 Wh/kg.
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