3 6 Ke·2025-05-12 11:20Core Viewpoint - The dominance of ternary lithium batteries is rapidly declining, with market share dropping from 65% in 2019 to below 20% by Q1 2025, as lithium iron phosphate (LFP) batteries gain traction in both hybrid and high-end markets [1][7]. Group 1: Market Dynamics - Ternary lithium batteries, once considered essential for high-end electric vehicles, are losing ground to LFP batteries, which are now being adopted even in hybrid and extended-range vehicles [4][7]. - The shift in consumer preference is evident, with manufacturers like BYD and CATL successfully integrating LFP batteries into high-performance models, achieving significant ranges and charging speeds [8][10]. - In the global market, LFP batteries have surpassed ternary lithium batteries for the first time, accounting for 49.9% of installations compared to 49.5% for ternary lithium in early 2025 [11][12]. Group 2: Technological Advancements - LFP batteries have undergone rapid technological advancements, addressing previous limitations such as low temperature performance and charging efficiency [17][18]. - Innovations like the "fast ion ring" technology and high-density materials have significantly improved the performance of LFP batteries, enabling faster charging and better energy density [20][24]. - The introduction of new battery technologies, such as CATL's Shenxing PLUS and BYD's blade battery, has further enhanced the appeal of LFP batteries, making them competitive with ternary lithium options [22][28]. Group 3: Competitive Landscape - The competitive landscape is shifting, with major automakers like Porsche and Audi transitioning to LFP batteries due to consumer demand for faster charging and better performance [30][31]. - The cost advantage of LFP batteries allows manufacturers to increase profit margins, challenging the notion that high-end vehicles must use ternary lithium batteries [28][29]. - The rapid innovation cycle of LFP technology positions it as the "fast fish" in the market, while ternary lithium is seen as the "slow fish" due to slower advancements [31][32]. Group 4: Industry Implications - The ongoing technological breakthroughs in LFP batteries are reshaping the competitive dynamics in the electric vehicle market, emphasizing the importance of innovation over traditional market positioning [33][34]. - As the industry evolves, the focus will shift from merely producing cheaper batteries to developing smarter, more efficient battery technologies that can sustain growth in the global market [34].