Lithium-iron-phosphate (LFP) batteries are favored for low-cost electric vehicles as they omit expensive components like nickel and cobalt while providing solid energy density and durability. However, U.S. automakers, particularly Ford, are striving to establish LFP battery plants domestically but rely heavily on federal subsidies and partnerships with Chinese companies. Ford's plans to build a $3.5 billion LFP battery facility have faced setbacks due to cut subsidies and criticism of Chinese ties, resulting in reduced investment and job offerings, complicating affordable EV production prospects.
For low-cost, mass-market electric vehicles, lithium-iron-phosphate (LFP) batteries are crucial due to their cost-efficiency, thermal stability, and longevity.
Ford's financial backing for its Michigan LFP battery plant has diminished significantly, reducing job projections and investment as EV sales growth slows.
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