ASIACHEM believes that, if domestic enterprises can solve LMO problems of high temperature performance and cycle life, increase comprehensive cost performance, LMO battery will break China current ternary battery and LFP battery dominant situation, and become important power which cannot be neglected in power battery field development.
China power battery used cathode materials are mainly LFP (lithium iron phosphate) and ternary material. Influenced by China power LIB demands increase, recently, LFP and ternary material become two cathode materials that increase the fastest.
From beginning of 2017 to now, MIIT totally released 3 batches ‘New Energy Vehicle Popularization and Application Recommended Models Directory’, a total of 1020 new energy vehicle models were selected, include 147 models new energy passenger vehicles, 658 models new energy coaches and 215 models new energy special vehicles.
View from matching batteries, these 1020 new energy vehicle models totally match 1025 models power LIB (part of vehicle models matches batteries of many enterprises), include 534 models LFP batteries and 247 models ternary material batteries. Specifically speaking, LFP batteries are mainly focused on new energy coaches, while ternary batteries are mainly focused on new energy passenger vehicles and new energy special vehicles.
It is worth noting that, in first 3 batches models directories, matching LMO (lithium manganese oxide) batteries reach 194 models, occupy 18.9%. Specifically speaking, LMO batteries are mainly focused on new energy coaches, and have some applications on new energy special vehicle and new energy passenger vehicle.
Dec, 2016, MOF, MOST, MIIT and NDRC joint published ‘Inform on Adjust NEV Generalization and Application Policy of Fiscal Subsidies’. ‘Inform’ shows that, from Jan 1, 2017, increase recommended models catalog threshold and dynamically adjusting; adjust NEV subsidies standard under the premise of remain 2016-2020 policy of fiscal subsidies overall stability, except fuel battery vehicle, each model of vehicle central and local subsidies standard and upper limit of the year from 2019 to 2020 will fall off 20% compare with current standard; improve subsidies funds allocation method from advance appropriation to afterwards appropriation.
Decline of subsidy makes power battery enterprises pressures aggravate. Product cost performance becomes kernel variable of power battery enterprises participate in market competition. Public data shows that, in 2016, average price of LMO cathode material was CNY 55k/t; average price of ternary cathode material was CNY 145k/t; average price of LFP cathode material was CNY 120k/t. Under situation of price of raw material of upstream increasing fast, cost advantage of LMO is being highlighted.
ASIACHEM believes that, if domestic enterprises can solve LMO problems of high temperature performance and cycle life, increase comprehensive cost performance, LMO battery will break China current ternary battery and LFP battery dominant situation, and become important power which cannot be neglected in power battery field development.
