The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ

2025/06/0421:35:44 car 1131

1. Why develop lithium manganese iron phosphate: new branches of old trees, essentially improving economic efficiency

1.1 The iron lithium route has approached the theoretical extreme value

In recent years, the energy density of LFP batteries has increased rapidly and has approached its limit. The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energy density of the LFP battery system equipped with the LFP in 2022 is 161.27Wh/kg, and this maximum value has almost not changed in the past two years. Since then, the development of lithium manganese iron phosphate system has emerged.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

1.2 Lithium manganese iron phosphate: At the extreme energy density of LFP, a new way out for cracking of iron lithium

LMFP: exists in the form of iron manganese solid solution rather than simple physical mixing. Doping Fe in LMP can form LMFP solid solution well to combine LMP and the advantages of LFP. It is theoretically unlikely that

LFP energy density will be further improved. Energy density = gram capacity × voltage platform ÷ volume. From the formula, we can see that when the volume is constant, the energy density is only related to the material's capacity and voltage platform. The voltage platform is related to the physical structure. The voltage platform of lithium iron phosphate material is 3.4V; while the capacity of lithium iron phosphate is currently close to 160mAh/g, which is close to the theoretical limit.

With the rapid rise in demand for new energy vehicles, the continuous rise in raw material prices, and some original battery systems are approaching the theoretical extreme value, battery factories and positive electrode factories have further increased their desire for solutions that can increase energy density from a technical level. Previously, due to the performance and difficulty of production, the energy density of lithium iron phosphate battery is close to the extreme, and the continuous breakthrough of lithium iron phosphate battery technology has resonated with factors such as factors such as continuous breakthroughs in lithium iron phosphate. Many manufacturers have begun to pay attention to lithium iron phosphate because of their economy.

lithium iron phosphate voltage platform is 3.4V, while lithium iron manganese phosphate can reach 4.1V, which theoretically increases the energy density of LMFP by 20%+. Moreover, manganese is not a rare metal. The global manganese ore resources are very rich. The cost of lithium manganese phosphate increases by about 5-10% compared with the raw material cost of lithium iron phosphate. The development of lithium manganese is in line with economics.

The production of LMFP batteries and LFP batteries have little changes, no need to rebuild the production line, the change cost is low, and it is economical.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

2. What is good lithium manganese iron phosphate: Only by breaking through the original shackles can you sublimate the performance problems of

2.1LMFP: dual voltage, stability, conductivity , cycle, specific capacity

LMFP, as the "upgraded version" of LFP, although it inherits the advantages of LFP's low cost, high thermal stability, high security, and make up for its shortcomings such as low energy density and poor low temperature stability, LMFP also has problems such as poor conductivity, rate performance and cycle performance. The conductivity problem of

is relatively simple, and most companies in the industry have solved it; in addition, the problems of dual voltage, specific capacity and cycle have been broken through. Some leading companies in the industry have made breakthroughs; the problem of manganese precipitation caused by the Jahn-Teller effect is the biggest pain point, the industry is breaking through, and a few companies have made progress.

Battery magnification: nC, n refers to the number of times of charging/discharging within one hour. The larger the n value, the higher the charging/discharging rate; rate performance: The larger the capacity released at a high rate, the better the performance. The rate performance is directly related to the migration ability of lithium ion . All factors that affect the migration speed of lithium ion will affect the charge and discharge rate performance of in lithium ion battery.

2.1.1 Specific capacity, stability and cyclic performance issues: Jahn-Teller effect, Mn3+ is easy to dissolve, the industry is breaking through, a few companies have made progress

Principle: 1. LMFP still has Jahn-Teller effect (Mn3+ is enriched on the surface of the positive electrode particles, distorting the manganese oxygen octahedral, and thus leading to manganese precipitation), resulting in thickening of the SEI film (consuming active lithium). 2. MnPO4 is unstable at high potential. 3. The increase in the manganese-iron ratio will increase the probability of manganese precipitation, which will intensify the side reaction between the electrode and the electrolyte. 4. LMP lattice easily forms part of oxygen vacancy.

1. Why develop lithium manganese iron phosphate: new branches of old trees, essentially improving economic efficiency

1.1 The iron lithium route has approached the theoretical extreme value

In recent years, the energy density of LFP batteries has increased rapidly and has approached its limit. The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energy density of the LFP battery system equipped with the LFP in 2022 is 161.27Wh/kg, and this maximum value has almost not changed in the past two years. Since then, the development of lithium manganese iron phosphate system has emerged.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

1.2 Lithium manganese iron phosphate: At the extreme energy density of LFP, a new way out for cracking of iron lithium

LMFP: exists in the form of iron manganese solid solution rather than simple physical mixing. Doping Fe in LMP can form LMFP solid solution well to combine LMP and the advantages of LFP. It is theoretically unlikely that

LFP energy density will be further improved. Energy density = gram capacity × voltage platform ÷ volume. From the formula, we can see that when the volume is constant, the energy density is only related to the material's capacity and voltage platform. The voltage platform is related to the physical structure. The voltage platform of lithium iron phosphate material is 3.4V; while the capacity of lithium iron phosphate is currently close to 160mAh/g, which is close to the theoretical limit.

With the rapid rise in demand for new energy vehicles, the continuous rise in raw material prices, and some original battery systems are approaching the theoretical extreme value, battery factories and positive electrode factories have further increased their desire for solutions that can increase energy density from a technical level. Previously, due to the performance and difficulty of production, the energy density of lithium iron phosphate battery is close to the extreme, and the continuous breakthrough of lithium iron phosphate battery technology has resonated with factors such as factors such as continuous breakthroughs in lithium iron phosphate. Many manufacturers have begun to pay attention to lithium iron phosphate because of their economy.

lithium iron phosphate voltage platform is 3.4V, while lithium iron manganese phosphate can reach 4.1V, which theoretically increases the energy density of LMFP by 20%+. Moreover, manganese is not a rare metal. The global manganese ore resources are very rich. The cost of lithium manganese phosphate increases by about 5-10% compared with the raw material cost of lithium iron phosphate. The development of lithium manganese is in line with economics.

The production of LMFP batteries and LFP batteries have little changes, no need to rebuild the production line, the change cost is low, and it is economical.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

2. What is good lithium manganese iron phosphate: Only by breaking through the original shackles can you sublimate the performance problems of

2.1LMFP: dual voltage, stability, conductivity , cycle, specific capacity

LMFP, as the "upgraded version" of LFP, although it inherits the advantages of LFP's low cost, high thermal stability, high security, and make up for its shortcomings such as low energy density and poor low temperature stability, LMFP also has problems such as poor conductivity, rate performance and cycle performance. The conductivity problem of

is relatively simple, and most companies in the industry have solved it; in addition, the problems of dual voltage, specific capacity and cycle have been broken through. Some leading companies in the industry have made breakthroughs; the problem of manganese precipitation caused by the Jahn-Teller effect is the biggest pain point, the industry is breaking through, and a few companies have made progress.

Battery magnification: nC, n refers to the number of times of charging/discharging within one hour. The larger the n value, the higher the charging/discharging rate; rate performance: The larger the capacity released at a high rate, the better the performance. The rate performance is directly related to the migration ability of lithium ion . All factors that affect the migration speed of lithium ion will affect the charge and discharge rate performance of in lithium ion battery.

2.1.1 Specific capacity, stability and cyclic performance issues: Jahn-Teller effect, Mn3+ is easy to dissolve, the industry is breaking through, a few companies have made progress

Principle: 1. LMFP still has Jahn-Teller effect (Mn3+ is enriched on the surface of the positive electrode particles, distorting the manganese oxygen octahedral, and thus leading to manganese precipitation), resulting in thickening of the SEI film (consuming active lithium). 2. MnPO4 is unstable at high potential. 3. The increase in the manganese-iron ratio will increase the probability of manganese precipitation, which will intensify the side reaction between the electrode and the electrolyte. 4. LMP lattice easily forms part of oxygen vacancy.

Effect: According to the formula, active lithium decreases and theoretical specific capacity decreases; at the same time, manganese precipitation leads to lattice distortion, structural collapse, poor cycle stability, short battery life, and material stability also decreases.

solution: At present, it is mainly used to reasonably adjust the ratio of manganese and iron manganese ratio (reduce the ratio of manganese), and to reduce manganese dissolution and overcome the Jahn-Teller effect through core-shell structure modification and synthesis of lithium manganese and iron manganese and lithium manganese and lithium coelectrode materials with concentration gradient.

Solution 1: Synthesis of lithium manganese iron-ferrogenic electrode materials with concentration gradient or core-shell structures. Both are surface modifications, reducing the distribution of manganese on the surface of the material and thus alleviating the problem of manganese dissolution.

core-shell structure: the shell material is carbon and metal phosphate. The shell structure is coated outside the core LMFP to reduce the contact between Mn and the electrolyte. For example, Shanghai Huayi Patent CN110416525A (2019), and its shell materials include carbon and metal phosphate. By comparing Example 1 and Comparative Example 1, it can be seen that the shell structure of carbon + metal phosphate is better than the shell structure of electrochemical that is coated only; through comparative Example 2 and Comparative Example 2 and 3, it can be seen that the shell structure of carbon + metal phosphate is better than the shell structure of lithium manganese iron ferrochemical performance of ferrochemical performance of ferrochemical without shell structure and doped metal ions (Mg).

core shell structure: the shell material is carbon, that is, carbon coated. Carbon coating can effectively prevent the further growth of lithium manganese phosphate particles and prevent the erosion of HF in the electrolyte from the positive electrode material, and improve the electrochemical properties such as the cyclic performance of the positive electrode material.

Uncoated V.S Coated Carbon: The first charge and discharge specific capacity of LMFP of uncoated carbon is almost 0mAh/g; after carbon coating, the first discharge specific capacity is 140/149/147mAh/g, respectively.

Uncoated V.S Coated Carbon: At 1C Current density, the LMFP specific capacity of uncoated carbon is 0mAh/g; Carbon coating: 5/10/15% The specific capacity after 100 cycles of carbon content is 59.4/76.6/74.4mAh/g, respectively.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

Concentration gradient: to reduce the Mn content on the surface of the material. For example, Guoxuan Hike patent CN104577119B (2015), manganese-rich and manganese-lean solutions were prepared respectively. By controlling the sample loading speed, a gradient structure of ferromanganese phosphate precursor was synthesized by co-precipitation method, and then lithium doped and high-temperature calcination were performed to prepare the gradient structure of lithium manganese ferromanganese phosphate.

Solution 2: Reduce the manganese ratio. The increase in manganese content will increase the working voltage of LMFP, thereby effectively increasing the energy density, but it will lead to a decrease in conductivity and lithium ion conductivity at the same time; the increase in manganese content will increase the amount of manganese contact with electrolyte , increasing the dissolution of manganese during the charge and discharge cycle.

Summary: Manganese precipitation problems companies in the industry are making breakthroughs, and a few companies have made progress, such as Huayi Group and Defang Nano adopt lithium manganese iron phosphate positive electrode material with synthetic core-shell structure to alleviate manganese precipitation problems.

2.1.2 Dual voltage platform problem: Some leading companies in the industry have broken through the principle of

: Since the charge and discharge voltages of manganese and iron are different, the voltage platform of iron is lower than that of manganese. Therefore, there are two voltage platforms for charging and discharging of LMFP, corresponding to the redox of manganese and iron. The platform near 3.5V is Fe2+ converted to Fe3+, and the corresponding Mn2+ converted to Mn3+ near 4.1V.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

impact: There is a voltage transformation problem, voltage switching will lead to problems such as difficulty in managing battery BMS in the later stage.

solution: Currently, it mainly solves dual voltage problems through conductive coating, increasing manganese ratio, and composite of LMFP with ternary materials. (Report source: Future Think Tank)

Solution 1: Independent grouping, the higher the manganese ratio, the higher the voltage platform and is single, but the more problems.

Problem: With the increase of manganese ratio, the voltage platform has increased from 3.5V and can be maintained at around 4.1V. When the manganese-ferrometer ratio is around 9:1, LMFP does not have a dual voltage problem and can be used alone, while iron elements only play a modification role; but the specific capacity shows a sharp decrease, the rate performance drops sharply, and the cycle stability does not change with the increase of the Mn ratio, but the cycle performance decreases.

Solution: Synthesis of lithium manganese iron-methane positive electrode materials with concentration gradient or core-shell structure, etc., reduce the distribution of manganese on the surface of the material, and thus alleviate the problem of manganese dissolution.For example, Shanghai Huayi Patent (CN110416525A, 2019), which uses the core-shell structure to alleviate the problem of manganese dissolution to improve the material circulation performance and discharge capacity, etc.; Guoxuan High-tech Patent (CN104577119B, 2015), which discloses an LMFP material with a concentration gradient structure. In the radial direction, the Fe element concentration increases, while the Mn element concentration decreases, so that the material has good cycling and rate performance.

In the future, with the continuous iteration of LMFP technology, it is expected to realize LFMP grouping separately in the future.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

Solution 2: Compound ternary. Since the ternary material is close to the voltage platform of the manganese-ferromanganese-ferromanganese-lithium material, there is no problem of the dual voltage platform after the recombination. When the manganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromangan

According to patent CN111883771A (2020), its manganese-ferromagnetic ratio is 6:4.

According to patent CN111048760A (2020), the composite material blended with more than 30% of lithium manganese iron phosphate (Example 3-7) can pass all safety performance tests, indicating that the safety performance of the blended composite material has been significantly improved.

Solution three: Conductive coating. To solve the problem of dual voltage platform, for example, according to the relevant patent of 13860280A, 2021 (CN113860280A, 2021), it uses conductive polymer polytrianiline to coat the LMFP positive electrode material. The charge and discharge properties of the polytrianiline themselves make up for the shortcomings of the LMFP dual voltage platform, thereby improving the resistance of the battery system to overcharge and overdischarge.

Summary: At present, some leading companies in the industry have made breakthroughs. For example, Yiwei Lithium Energy adopts the conductive coating technology route, and Scorland, Litai Lithium Energy and German Nano have used the composite ternary technology route to solve the dual voltage problem.

2.1.3 Low conductivity: resulting in poor low-temperature performance and rate performance. Most companies in the industry adopt diversified technical routes and have solved the principle of

: 1. LMFP has an olivine structure. The significant disadvantage of this structure is that the material is connected through PO4 tetrahedron and does not have a continuous FeO6 (MnO6) co-ridge octahedral network, so it is impossible to form a continuous Co-O-Co structure like lithium cobalt oxide material. Lithium ions are limited in movement in one-dimensional channels, and the lithium ion diffusion rate is low. 2. Compared with the transition energy gap of LFP 0.3eV, the transition energy gap of electrons in LMFP is as high as 2eV, which is basically an insulator, with low electron conductivity and ion mobility.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

Influence: Low temperature performance and rate performance are mainly related to the electron conductivity and the diffusion rate of lithium ions, so the material rate performance is poor.

solution: At present, it is mainly used to improve the conductivity and poor rate performance through modification methods such as conductive agent , carbon coating, composite ternary and metal ion doping.

Solution one: conductive agent. After adding conductive agent, the conductive contact between active substances can be increased and the electronic conductivity can be improved.

solution 2: carbon coating. Carbon coating can form a good conductive network through the contact between the carbon layer and the particles, and improve the conductivity of the material.

solution three: compound three. For example, German Nanopatent (CN108598386A, 2018), it provides a core-shell structure lithium manganese iron phosphate composite material. The ternary material is coated as an outer shell on the outside of lithium manganese iron phosphate, improving the internal electronic conductivity of LMFP, and accelerating the migration speed of lithium ions, thereby improving the conductivity of the material and improving the low-temperature performance and rate performance of the material. After

is combined with ternary, the low-temperature capacity retention rate has increased by 3.52%. The first discharge specific capacity and 1C discharge specific capacity are significantly higher than LMFP, and the rate performance has also been significantly improved.

Solution Four: (magnesium, titanium, etc.) Doping modification, improving rate performance and low-temperature performance.

Since rate performance and low-temperature performance are mainly related to the lithium ion diffusion rate and electron mobility, the LMFP rate performance and low-temperature performance of metal ions such as doped magnesium have been improved.

doped V.S undoped magnesium: at different discharge magnesium, the LMFP capacity of doped magnesium is significantly higher than that of undoped LMFP. At 20C, the discharge capacity of doped magnesium and undoped LMFP was 107.8mAh/g and 95.4mAh/g, respectively, an increase of 13.00%.

doped V.S undoped magnesium: the first charge and discharge capacity of LMFP doped with magnesium is 152.2mAh/g and 146.3mAh/g, respectively, and the first charge and discharge capacity of LMFP undoped with magnesium is 144.7mAh/g and 134.1mAh/g. The first charge and discharge capacity after doping with magnesium is increased by 5.18% and 9.1% respectively.

review: The problem of low conductivity is currently solved by most companies in the industry using various technical routes, such as German Nano adopts composite ternary technology, adding conductive agents and other routes, Litai Lithium Energy adopts carbon coating, ion doping and other routes, and CATL adopts adding conductive agents and ion doping routes.

2.2 Patent: Lithium manganese manganese has no general compound patent

Lithium manganese manganese has no general compound patent, and patent barrier is lower than that of medical and pharmaceutical compound patents. Patents for general compounds generally refer to pharmaceutical patents. Once authorized, this type of patent is an absolute protection for chemical substances or drug-active molecules (APIs), which are usually difficult to avoid. Number of patents for

: As of April 2022, the number of relevant patents on LMFP in China was 221. In recent years, as various manufacturers began to deploy lithium manganese ferroferric phosphate, the number of related patent applications has grown rapidly. According to statistics on the application date, there were 30 in 2020 and 33 related patent applications in 2021.

, which owns patents, especially optimization patents, have the first-mover advantage. In recent years, domestic and foreign companies have begun to deploy lithium manganese iron phosphate. In response to the performance problems of LMFP, various manufacturers mainly modify them through carbon coating, ion doping and nanoification. Among them, process improvement is only apparent modification. To essentially change its structure, third-party elements are required to introduce, but the technical barriers to the second route are relatively high, and currently only a few companies have relevant patents.

3. How to produce good lithium manganese iron phosphate: two routes, the optimal liquid phase method

3.1 Two routes: liquid phase method and semi-solid and semi-liquid method

LMFP and LFP production processes are different. Since iron manganese needs to form a uniform solid solution to produce high-quality iron manganese lithium, the production of high-quality iron manganese lithium is likely to be based on the liquid phase method. Enterprises that use solid phase method to produce iron lithium need to improve their production process.

mainly produces two methods: liquid phase method and semi-solid and semi-liquid. The liquid phase method can dissolve all the raw materials. According to the principle of "uniformity" of the solution, the molecular-level combination can be achieved, and the precursors obtained are more uniform, which can effectively prevent the aggregation of manganese-rich phases and improve the electrochemical performance of the material. The solid phase method uses mechanical mixing and crushing to achieve the mixing of raw materials. It can only achieve macroscopic uniformity, but cannot achieve microscopic, that is, molecular-level uniformity, and poor product consistency. The semi-solid and semi-liquid method is the first stage process to extract elements using the liquid phase method to enable iron and manganese to form a uniform solid solution.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

The first stage process is the core barrier for the production of lithium manganese iron phosphate. The differences in the liquid phase method of each enterprise are mainly reflected in the different ways of obtaining nano LMFP materials, which shortens Li+ and electron migration paths in terms of reducing the primary particle size, thereby improving conductivity.

3.2 Composite ternary production: The technical routes of various enterprises are blooming

Composite method: 1. Batteries (1-M) made of iron manganese and lithium composite ternary material prepared in conventional stirring have similar energy density and voltage platforms to ternary batteries, and have better low temperature performance, cycle life and safety performance; 2. Batteries (2-C) made of iron manganese and iron phosphate are first coated on the ternary material and then used conventional slurry technology have better safety, but the resistance is too large and the electrical performance is slightly worse.

All enterprises have a lot of technical routes. According to the patent review of each enterprise, ternary composite mainly includes technical routes such as simple physical mixing, carbon layer connection, mechanical fusion, physical adsorption, core-shell structure, and connection through chemical bonds.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

As 523NCM is reduced from 90% to 50%, the capacity retention rate of composite materials and the first charge and discharge efficiency are improved.According to the patent of Litai Lithium Energy Physical Adsorption Technology Route, as the addition amount of 523NCM decreases (Example 1-5: reduced from 90% to 50%), the composite material's first discharge specific capacity gradually decreases at 0.1C, but the first charge and discharge efficiency and the capacity retention rate after 200 cycles of 1C gradually increase, and the capacity retention rate is significantly higher than 523NCM, and the first discharge specific capacity is significantly higher than LMFP.

3.3 Cost reduction route: Increase the selection range of raw materials, process improvement, recycling

materials cost reduction: At present, the standards for raw materials are different. The solid phase method uses the method of producing iron lithium, using iron phosphate as the precursor and mix it with lithium salt and manganese salt. In the future, manganese iron ore (powdered) is used and phosphate is added to prepare, and the cost will drop significantly. On the other hand, manufacturers try to use low-cost materials when modifying LMFP. For example, Scorland uses metal oxides (low cost) to prepare composite polymorphic iron manganese vanadium lithium. Litai Li can improve the electrochemical performance of LMFP through ion doping and carbon coating, and use common inorganic chemical raw materials to reduce costs.

process cost reduction: various manufacturers optimize the cost reduction of all links of the production process. For example, Litai Lithium Energy patent uses supergravity rotary bed for co-precipitation reaction to prepare lithium manganese iron phosphate precursors to reduce costs, Scorland's patented microwave activation method to prepare LMFP using water as a grinding body to reduce costs.

recycling cost reduction: With the sharp rise in the price of lithium carbonate (nearly 8 times since 21 years), the economic efficiency of recycling waste lithium iron phosphate batteries is getting better and better. Defang Nano has achieved a closed loop of the industrial chain by recycling and utilizing waste lithium iron phosphate and improving the utilization rate of lithium ore to reduce costs.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

3.4 Investment intensity : about 200 million, slightly larger than iron lithium

pure liquid phase production cost is higher than that of semi-solid and semi-liquid method. The annual output of 10,000 tons of lithium manganese iron phosphate is about 180 million to 200 million yuan, according to grassroots research, and according to the announcement of the German nano-investment project, the investment required for liquid phase production is about 200 million to 240 million yuan.

IV. Where is the future of lithium manganese iron phosphate: first two wheels, then compound, the final chapter is independent group

4.1 Commercial route: two-wheeled electric vehicles → composite ternary → independently use

4.1.1 Two-wheeled electric vehicles: have entered the terminal, and the volume is increasing

compound lithium manganese oxide (LMO): With the advantages of safety and cycle life, it has entered the terminal of two-wheeled electric vehicles. LMFP+LMO can be considered one of the most cost-effective lithium battery systems in the field of two-wheeled electric vehicles. It has entered the terminal and is gradually increasing in volume, such as the Niu Electric Vehicles equipped with Xingheng. Driven by factors such as the new national standard policy, the sales share of lithium battery two-wheeled electric vehicles has increased year by year. EVTank expects that by 2025, the market penetration rate of the entire lithium battery version of electric two-wheeled electric vehicles will be close to 60%.

4.1.2 Compound ternary: the beginning of commercial implementation

Compound NCM: the beginning of commercial implementation. The performance of LMFP and ternary materials is close to ternary after being combined. In addition, according to the particle size distribution, the D50 of the ternary material is about twice that of lithium manganese iron phosphate. After the composite, the overall particle size distribution becomes wider, which improves the stability of lithium ions during the charging and discharge of the ternary material lattice, and provides elastic strain force for the material to be impacted by external forces, thereby improving the safety and circulation performance of the ternary material. Therefore, the composite ternary became the beginning of the commercialization of LMFP.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

4.1.3 Used alone as the final chapter

Used alone as the final chapter. The higher the manganese ratio, the less there is a problem of dual voltage platform. LMFP with a manganese-iron ratio of about 9:1 does not have a dual voltage problem and the voltage platform is about 4.0. It can be used alone. The added iron element will only play a modification role. However, on the other hand, the increase in the manganese content will increase the amount of manganese contact with the electrolyte, and it will inevitably encounter the problem of lattice distortion caused by manganese precipitation, which requires continuous improvement in technology to overcome difficulties.

4.2 Leading layout: CATL will launch M3P batteries, and German Nano has newly built an annual production capacity of 440,000 tons

Liquid phase method: German Nano has newly built an annual production capacity of 440,000 tons.Defang nano-liquid phase production method, and announced the production base project of a new phosphate -type positive electrode material annually in November 2021; in January 2022, the project plan for a new phosphate positive electrode material annually in January 2022.

semi-solid and semi-liquid method: such as: CATL Lithium Energy, self-developed and produced. Litai Lithium Energy uses the semi-solid and semi-liquid method to produce LMFP. CATL has laid out lithium manganese iron phosphate through the holding of Litai Lithium Energy: it acquired a stake in Litai Lithium Energy on December 23, 2021, and held 60% of the shares after the shareholder changes on January 10, 2022.

battery factory: CATL, BYD , etc. CATL's investor relations activity on February 14, 2022 disclosed that the company's new product M3P battery is planned to launch. According to the company's questions, we speculate that it is a phosphate lithium iron battery. BYD has been deeply engaged in iron lithium for ten years, has owned more than ten patents related to iron lithium manganese and has rich technical reserves.

4.3LMFP composite has good low temperature performance, and high cold energy storage has great potential.

LMFP composite has good low temperature performance, and high cold energy storage has great potential. Due to its wide applicable temperature range and long service life, lithium-ion batteries dominate the electrochemical field of the energy storage market. Energy storage batteries pay more attention to battery cost and circulation performance. Therefore, LFP batteries are mainly used in lithium-ion batteries. However, LFP has poor low-temperature performance and cannot complete the charging and discharge cycle well in high-cold areas, making its performance unstable. LMFP composite materials (composite ternary or doped metal ions such as magnesium) have excellent low-temperature performance, and high-cold energy storage may have great potential.

As the dual-carbon target gradually advances, the demand for energy storage batteries will grow at a relatively high rate. We expect that by 2025, the global energy storage battery shipment will reach 393.8GWh, with a compound annual growth rate of 72% from 2022 to 2025.

5. Who can produce good lithium manganese iron phosphate: hundreds of boats compete for the current, the first-mover leader has significant advantages

5.1 Positive electrode factory

5.1.1 German Nano: The liquid phase method has significant advantages, and the current maximum production capacity under construction

has mature liquid phase method that gives the company a first-mover advantage. At present, LFP synthesis processes are mainly divided into two categories: solid phase method and liquid phase method. Since high-quality LMFP preparation is likely to be based on liquid phase method, most manufacturers use solid phase method to prepare LMFP, so German nanometers have significant first-mover advantages in preparing LMFP using liquid phase method.

has rich technical reserves and strong R&D capabilities. As of Q1 2022, German Nano has applied for and obtained 69 patent authorizations in China, including 9 patents related to LMFP. In 2021, the company's R&D investment was 164 million yuan, and increased by year-on-year to 217.76%. The main R&D projects include research on key preparation technologies for new phosphate-based positive electrode materials. Based on the relevant information disclosed, we speculate that it may be technical research related to LMFP. We expect that the project will be mass-produced by the end of 2022.

5.1.2 Litai Lithium Energy: Deeply bound to Ningde, it is expected to achieve large-scale increase in volume in the future

CATL Holdings subsidiary, the company focuses on R&D, and has a large number of patent applications in recent years. At present, the company has applied for and obtained 21 patents in China, including 8 patents involving LMFP, most of which are process patents that improve LMFP performance and related patents that introduce third-party elements to structurally modify.

Eight years of hard work on research and development and research have achieved the industrial production of lithium manganese iron phosphate products. The nano-grade lithium manganese iron phosphate material independently developed by Litai Lithium Energy is based on nanocrystalline three-dimensional mesh porous lithium iron phosphate positive electrode material (3DMeshyNano-LFP) technology, realizing the nano- nano-grained and secondary particles with three-dimensional mesh conductivity, effectively solving the resistance problems of traditional LFMP, with good rate performance, cycle performance, low temperature performance and processing performance, and excellent safety.

5.2 Battery Factory

5.2.1 CATL: It has been a long time to lay out, and it is ready to go

has been a long time to lay out, and it is ready to go. The company has a complete R&D system and a strong R&D team (master degree or above account for 20%+). As early as 2015, it applied for a patent for the introduction of third-party element method modification of LMFP.

CATL's new product M3P.According to the disclosure of CATL's investor relations activity on February 14, 2022, the new product M3P planned to launch is not lithium manganese iron phosphate, but also contains other metal elements. The company calls it the ternary of the phosphate system, and the cost is lower than the ternary. According to the company's patent, we speculate that M3P may be doped with other elements such as magnesium to improve the electrochemical properties of LMFP.

5.2.2 BYD: iron lithium leader, iron manganese lithium actively reserves

domestic iron lithium leader. With its strong innovation capabilities and deep technical accumulation, BYD launched the " blade battery " in March 2020. Its blade battery technology solves the mileage anxiety and safety pain points of new energy vehicles, becoming a landmark work of power batteries, and consolidating the company's global leading position. Since 2020, its installed power battery capacity has increased significantly.

LMFP: Actively reserve and strive to promote. BYD once stated in the "2014 China New Energy Vehicle Industry Three-Basic Engineering Working Conference" that lithium manganese iron phosphate is its new technical route. At that time, due to policy and other reasons, various manufacturers embraced three-yuan high-capacity materials, and this route did not become mainstream, but the company is still continuing to promote and actively reserve, and has laid out more than ten patents in recent years.

5.2.3 Guoxuan Hi-Tech: He has been deeply engaged in iron lithium for more than ten years, and has focused on research and development of

for more than ten years, and has focused on research and development. In recent years, the company's R&D expenditure has accounted for a relatively high level in the industry, and the company has also applied for a large number of patents related to positive electrode materials. In 2019, the company's independently developed FP1865140-15Ah square lithium manganese iron phosphate lithium ion battery won the honor of Anhui Province's new product.

For example, Shanghai Huayi Patent (CN110416525A, 2019), which uses the core-shell structure to alleviate the problem of manganese dissolution to improve the material circulation performance and discharge capacity, etc.; Guoxuan High-tech Patent (CN104577119B, 2015), which discloses an LMFP material with a concentration gradient structure. In the radial direction, the Fe element concentration increases, while the Mn element concentration decreases, so that the material has good cycling and rate performance.

In the future, with the continuous iteration of LMFP technology, it is expected to realize LFMP grouping separately in the future.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

Solution 2: Compound ternary. Since the ternary material is close to the voltage platform of the manganese-ferromanganese-ferromanganese-lithium material, there is no problem of the dual voltage platform after the recombination. When the manganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromanganese-ferromangan

According to patent CN111883771A (2020), its manganese-ferromagnetic ratio is 6:4.

According to patent CN111048760A (2020), the composite material blended with more than 30% of lithium manganese iron phosphate (Example 3-7) can pass all safety performance tests, indicating that the safety performance of the blended composite material has been significantly improved.

Solution three: Conductive coating. To solve the problem of dual voltage platform, for example, according to the relevant patent of 13860280A, 2021 (CN113860280A, 2021), it uses conductive polymer polytrianiline to coat the LMFP positive electrode material. The charge and discharge properties of the polytrianiline themselves make up for the shortcomings of the LMFP dual voltage platform, thereby improving the resistance of the battery system to overcharge and overdischarge.

Summary: At present, some leading companies in the industry have made breakthroughs. For example, Yiwei Lithium Energy adopts the conductive coating technology route, and Scorland, Litai Lithium Energy and German Nano have used the composite ternary technology route to solve the dual voltage problem.

2.1.3 Low conductivity: resulting in poor low-temperature performance and rate performance. Most companies in the industry adopt diversified technical routes and have solved the principle of

: 1. LMFP has an olivine structure. The significant disadvantage of this structure is that the material is connected through PO4 tetrahedron and does not have a continuous FeO6 (MnO6) co-ridge octahedral network, so it is impossible to form a continuous Co-O-Co structure like lithium cobalt oxide material. Lithium ions are limited in movement in one-dimensional channels, and the lithium ion diffusion rate is low. 2. Compared with the transition energy gap of LFP 0.3eV, the transition energy gap of electrons in LMFP is as high as 2eV, which is basically an insulator, with low electron conductivity and ion mobility.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

Influence: Low temperature performance and rate performance are mainly related to the electron conductivity and the diffusion rate of lithium ions, so the material rate performance is poor.

solution: At present, it is mainly used to improve the conductivity and poor rate performance through modification methods such as conductive agent , carbon coating, composite ternary and metal ion doping.

Solution one: conductive agent. After adding conductive agent, the conductive contact between active substances can be increased and the electronic conductivity can be improved.

solution 2: carbon coating. Carbon coating can form a good conductive network through the contact between the carbon layer and the particles, and improve the conductivity of the material.

solution three: compound three. For example, German Nanopatent (CN108598386A, 2018), it provides a core-shell structure lithium manganese iron phosphate composite material. The ternary material is coated as an outer shell on the outside of lithium manganese iron phosphate, improving the internal electronic conductivity of LMFP, and accelerating the migration speed of lithium ions, thereby improving the conductivity of the material and improving the low-temperature performance and rate performance of the material. After

is combined with ternary, the low-temperature capacity retention rate has increased by 3.52%. The first discharge specific capacity and 1C discharge specific capacity are significantly higher than LMFP, and the rate performance has also been significantly improved.

Solution Four: (magnesium, titanium, etc.) Doping modification, improving rate performance and low-temperature performance.

Since rate performance and low-temperature performance are mainly related to the lithium ion diffusion rate and electron mobility, the LMFP rate performance and low-temperature performance of metal ions such as doped magnesium have been improved.

doped V.S undoped magnesium: at different discharge magnesium, the LMFP capacity of doped magnesium is significantly higher than that of undoped LMFP. At 20C, the discharge capacity of doped magnesium and undoped LMFP was 107.8mAh/g and 95.4mAh/g, respectively, an increase of 13.00%.

doped V.S undoped magnesium: the first charge and discharge capacity of LMFP doped with magnesium is 152.2mAh/g and 146.3mAh/g, respectively, and the first charge and discharge capacity of LMFP undoped with magnesium is 144.7mAh/g and 134.1mAh/g. The first charge and discharge capacity after doping with magnesium is increased by 5.18% and 9.1% respectively.

review: The problem of low conductivity is currently solved by most companies in the industry using various technical routes, such as German Nano adopts composite ternary technology, adding conductive agents and other routes, Litai Lithium Energy adopts carbon coating, ion doping and other routes, and CATL adopts adding conductive agents and ion doping routes.

2.2 Patent: Lithium manganese manganese has no general compound patent

Lithium manganese manganese has no general compound patent, and patent barrier is lower than that of medical and pharmaceutical compound patents. Patents for general compounds generally refer to pharmaceutical patents. Once authorized, this type of patent is an absolute protection for chemical substances or drug-active molecules (APIs), which are usually difficult to avoid. Number of patents for

: As of April 2022, the number of relevant patents on LMFP in China was 221. In recent years, as various manufacturers began to deploy lithium manganese ferroferric phosphate, the number of related patent applications has grown rapidly. According to statistics on the application date, there were 30 in 2020 and 33 related patent applications in 2021.

, which owns patents, especially optimization patents, have the first-mover advantage. In recent years, domestic and foreign companies have begun to deploy lithium manganese iron phosphate. In response to the performance problems of LMFP, various manufacturers mainly modify them through carbon coating, ion doping and nanoification. Among them, process improvement is only apparent modification. To essentially change its structure, third-party elements are required to introduce, but the technical barriers to the second route are relatively high, and currently only a few companies have relevant patents.

3. How to produce good lithium manganese iron phosphate: two routes, the optimal liquid phase method

3.1 Two routes: liquid phase method and semi-solid and semi-liquid method

LMFP and LFP production processes are different. Since iron manganese needs to form a uniform solid solution to produce high-quality iron manganese lithium, the production of high-quality iron manganese lithium is likely to be based on the liquid phase method. Enterprises that use solid phase method to produce iron lithium need to improve their production process.

mainly produces two methods: liquid phase method and semi-solid and semi-liquid. The liquid phase method can dissolve all the raw materials. According to the principle of "uniformity" of the solution, the molecular-level combination can be achieved, and the precursors obtained are more uniform, which can effectively prevent the aggregation of manganese-rich phases and improve the electrochemical performance of the material. The solid phase method uses mechanical mixing and crushing to achieve the mixing of raw materials. It can only achieve macroscopic uniformity, but cannot achieve microscopic, that is, molecular-level uniformity, and poor product consistency. The semi-solid and semi-liquid method is the first stage process to extract elements using the liquid phase method to enable iron and manganese to form a uniform solid solution.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

The first stage process is the core barrier for the production of lithium manganese iron phosphate. The differences in the liquid phase method of each enterprise are mainly reflected in the different ways of obtaining nano LMFP materials, which shortens Li+ and electron migration paths in terms of reducing the primary particle size, thereby improving conductivity.

3.2 Composite ternary production: The technical routes of various enterprises are blooming

Composite method: 1. Batteries (1-M) made of iron manganese and lithium composite ternary material prepared in conventional stirring have similar energy density and voltage platforms to ternary batteries, and have better low temperature performance, cycle life and safety performance; 2. Batteries (2-C) made of iron manganese and iron phosphate are first coated on the ternary material and then used conventional slurry technology have better safety, but the resistance is too large and the electrical performance is slightly worse.

All enterprises have a lot of technical routes. According to the patent review of each enterprise, ternary composite mainly includes technical routes such as simple physical mixing, carbon layer connection, mechanical fusion, physical adsorption, core-shell structure, and connection through chemical bonds.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

As 523NCM is reduced from 90% to 50%, the capacity retention rate of composite materials and the first charge and discharge efficiency are improved.According to the patent of Litai Lithium Energy Physical Adsorption Technology Route, as the addition amount of 523NCM decreases (Example 1-5: reduced from 90% to 50%), the composite material's first discharge specific capacity gradually decreases at 0.1C, but the first charge and discharge efficiency and the capacity retention rate after 200 cycles of 1C gradually increase, and the capacity retention rate is significantly higher than 523NCM, and the first discharge specific capacity is significantly higher than LMFP.

3.3 Cost reduction route: Increase the selection range of raw materials, process improvement, recycling

materials cost reduction: At present, the standards for raw materials are different. The solid phase method uses the method of producing iron lithium, using iron phosphate as the precursor and mix it with lithium salt and manganese salt. In the future, manganese iron ore (powdered) is used and phosphate is added to prepare, and the cost will drop significantly. On the other hand, manufacturers try to use low-cost materials when modifying LMFP. For example, Scorland uses metal oxides (low cost) to prepare composite polymorphic iron manganese vanadium lithium. Litai Li can improve the electrochemical performance of LMFP through ion doping and carbon coating, and use common inorganic chemical raw materials to reduce costs.

process cost reduction: various manufacturers optimize the cost reduction of all links of the production process. For example, Litai Lithium Energy patent uses supergravity rotary bed for co-precipitation reaction to prepare lithium manganese iron phosphate precursors to reduce costs, Scorland's patented microwave activation method to prepare LMFP using water as a grinding body to reduce costs.

recycling cost reduction: With the sharp rise in the price of lithium carbonate (nearly 8 times since 21 years), the economic efficiency of recycling waste lithium iron phosphate batteries is getting better and better. Defang Nano has achieved a closed loop of the industrial chain by recycling and utilizing waste lithium iron phosphate and improving the utilization rate of lithium ore to reduce costs.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

3.4 Investment intensity : about 200 million, slightly larger than iron lithium

pure liquid phase production cost is higher than that of semi-solid and semi-liquid method. The annual output of 10,000 tons of lithium manganese iron phosphate is about 180 million to 200 million yuan, according to grassroots research, and according to the announcement of the German nano-investment project, the investment required for liquid phase production is about 200 million to 240 million yuan.

IV. Where is the future of lithium manganese iron phosphate: first two wheels, then compound, the final chapter is independent group

4.1 Commercial route: two-wheeled electric vehicles → composite ternary → independently use

4.1.1 Two-wheeled electric vehicles: have entered the terminal, and the volume is increasing

compound lithium manganese oxide (LMO): With the advantages of safety and cycle life, it has entered the terminal of two-wheeled electric vehicles. LMFP+LMO can be considered one of the most cost-effective lithium battery systems in the field of two-wheeled electric vehicles. It has entered the terminal and is gradually increasing in volume, such as the Niu Electric Vehicles equipped with Xingheng. Driven by factors such as the new national standard policy, the sales share of lithium battery two-wheeled electric vehicles has increased year by year. EVTank expects that by 2025, the market penetration rate of the entire lithium battery version of electric two-wheeled electric vehicles will be close to 60%.

4.1.2 Compound ternary: the beginning of commercial implementation

Compound NCM: the beginning of commercial implementation. The performance of LMFP and ternary materials is close to ternary after being combined. In addition, according to the particle size distribution, the D50 of the ternary material is about twice that of lithium manganese iron phosphate. After the composite, the overall particle size distribution becomes wider, which improves the stability of lithium ions during the charging and discharge of the ternary material lattice, and provides elastic strain force for the material to be impacted by external forces, thereby improving the safety and circulation performance of the ternary material. Therefore, the composite ternary became the beginning of the commercialization of LMFP.

The energy density of the 2010 BYD E6LFP battery is only 90Wh/kg. With the continuous iteration of battery technology, according to the recommended model catalog of new energy promotion and application released by the Industry and Information Technology Network, the maximum energ - DayDayNews

4.1.3 Used alone as the final chapter

Used alone as the final chapter. The higher the manganese ratio, the less there is a problem of dual voltage platform. LMFP with a manganese-iron ratio of about 9:1 does not have a dual voltage problem and the voltage platform is about 4.0. It can be used alone. The added iron element will only play a modification role. However, on the other hand, the increase in the manganese content will increase the amount of manganese contact with the electrolyte, and it will inevitably encounter the problem of lattice distortion caused by manganese precipitation, which requires continuous improvement in technology to overcome difficulties.

4.2 Leading layout: CATL will launch M3P batteries, and German Nano has newly built an annual production capacity of 440,000 tons

Liquid phase method: German Nano has newly built an annual production capacity of 440,000 tons.Defang nano-liquid phase production method, and announced the production base project of a new phosphate -type positive electrode material annually in November 2021; in January 2022, the project plan for a new phosphate positive electrode material annually in January 2022.

semi-solid and semi-liquid method: such as: CATL Lithium Energy, self-developed and produced. Litai Lithium Energy uses the semi-solid and semi-liquid method to produce LMFP. CATL has laid out lithium manganese iron phosphate through the holding of Litai Lithium Energy: it acquired a stake in Litai Lithium Energy on December 23, 2021, and held 60% of the shares after the shareholder changes on January 10, 2022.

battery factory: CATL, BYD , etc. CATL's investor relations activity on February 14, 2022 disclosed that the company's new product M3P battery is planned to launch. According to the company's questions, we speculate that it is a phosphate lithium iron battery. BYD has been deeply engaged in iron lithium for ten years, has owned more than ten patents related to iron lithium manganese and has rich technical reserves.

4.3LMFP composite has good low temperature performance, and high cold energy storage has great potential.

LMFP composite has good low temperature performance, and high cold energy storage has great potential. Due to its wide applicable temperature range and long service life, lithium-ion batteries dominate the electrochemical field of the energy storage market. Energy storage batteries pay more attention to battery cost and circulation performance. Therefore, LFP batteries are mainly used in lithium-ion batteries. However, LFP has poor low-temperature performance and cannot complete the charging and discharge cycle well in high-cold areas, making its performance unstable. LMFP composite materials (composite ternary or doped metal ions such as magnesium) have excellent low-temperature performance, and high-cold energy storage may have great potential.

As the dual-carbon target gradually advances, the demand for energy storage batteries will grow at a relatively high rate. We expect that by 2025, the global energy storage battery shipment will reach 393.8GWh, with a compound annual growth rate of 72% from 2022 to 2025.

5. Who can produce good lithium manganese iron phosphate: hundreds of boats compete for the current, the first-mover leader has significant advantages

5.1 Positive electrode factory

5.1.1 German Nano: The liquid phase method has significant advantages, and the current maximum production capacity under construction

has mature liquid phase method that gives the company a first-mover advantage. At present, LFP synthesis processes are mainly divided into two categories: solid phase method and liquid phase method. Since high-quality LMFP preparation is likely to be based on liquid phase method, most manufacturers use solid phase method to prepare LMFP, so German nanometers have significant first-mover advantages in preparing LMFP using liquid phase method.

has rich technical reserves and strong R&D capabilities. As of Q1 2022, German Nano has applied for and obtained 69 patent authorizations in China, including 9 patents related to LMFP. In 2021, the company's R&D investment was 164 million yuan, and increased by year-on-year to 217.76%. The main R&D projects include research on key preparation technologies for new phosphate-based positive electrode materials. Based on the relevant information disclosed, we speculate that it may be technical research related to LMFP. We expect that the project will be mass-produced by the end of 2022.

5.1.2 Litai Lithium Energy: Deeply bound to Ningde, it is expected to achieve large-scale increase in volume in the future

CATL Holdings subsidiary, the company focuses on R&D, and has a large number of patent applications in recent years. At present, the company has applied for and obtained 21 patents in China, including 8 patents involving LMFP, most of which are process patents that improve LMFP performance and related patents that introduce third-party elements to structurally modify.

Eight years of hard work on research and development and research have achieved the industrial production of lithium manganese iron phosphate products. The nano-grade lithium manganese iron phosphate material independently developed by Litai Lithium Energy is based on nanocrystalline three-dimensional mesh porous lithium iron phosphate positive electrode material (3DMeshyNano-LFP) technology, realizing the nano- nano-grained and secondary particles with three-dimensional mesh conductivity, effectively solving the resistance problems of traditional LFMP, with good rate performance, cycle performance, low temperature performance and processing performance, and excellent safety.

5.2 Battery Factory

5.2.1 CATL: It has been a long time to lay out, and it is ready to go

has been a long time to lay out, and it is ready to go. The company has a complete R&D system and a strong R&D team (master degree or above account for 20%+). As early as 2015, it applied for a patent for the introduction of third-party element method modification of LMFP.

CATL's new product M3P.According to the disclosure of CATL's investor relations activity on February 14, 2022, the new product M3P planned to launch is not lithium manganese iron phosphate, but also contains other metal elements. The company calls it the ternary of the phosphate system, and the cost is lower than the ternary. According to the company's patent, we speculate that M3P may be doped with other elements such as magnesium to improve the electrochemical properties of LMFP.

5.2.2 BYD: iron lithium leader, iron manganese lithium actively reserves

domestic iron lithium leader. With its strong innovation capabilities and deep technical accumulation, BYD launched the " blade battery " in March 2020. Its blade battery technology solves the mileage anxiety and safety pain points of new energy vehicles, becoming a landmark work of power batteries, and consolidating the company's global leading position. Since 2020, its installed power battery capacity has increased significantly.

LMFP: Actively reserve and strive to promote. BYD once stated in the "2014 China New Energy Vehicle Industry Three-Basic Engineering Working Conference" that lithium manganese iron phosphate is its new technical route. At that time, due to policy and other reasons, various manufacturers embraced three-yuan high-capacity materials, and this route did not become mainstream, but the company is still continuing to promote and actively reserve, and has laid out more than ten patents in recent years.

5.2.3 Guoxuan Hi-Tech: He has been deeply engaged in iron lithium for more than ten years, and has focused on research and development of

for more than ten years, and has focused on research and development. In recent years, the company's R&D expenditure has accounted for a relatively high level in the industry, and the company has also applied for a large number of patents related to positive electrode materials. In 2019, the company's independently developed FP1865140-15Ah square lithium manganese iron phosphate lithium ion battery won the honor of Anhui Province's new product.

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