Lithium iron phosphate (LFP)

Lithium iron phosphate (LFP) is a lithium-ion cathode chemistry that contains no cobalt or nickel, offering strong thermal stability, long cycle life, and lower cost at the expense of energy density compared with NMC. Its growing use in electric vehicles and stationary storage reduces exposure to cobalt and nickel supply risk, though lithium sourcing remains subject to the due-diligence obligations of Regulation (EU) 2023/1542. LFP packs are common in entry-level EVs and battery energy storage systems.