In battery naming conventions, the name is often derived from the positive electrode material, and this is also true for ternary lithium batteries and lithium iron phosphate batteries. The debate and discussion in the market regarding ternary and lithium iron phosphate batteries has never ceased, almost to the point of a life-or-death struggle. But what are the differences between the two?
From a materials perspective, the "ternary" in ternary lithium batteries refers to polymers containing three metallic elements: nickel (Ni), cobalt, and manganese or aluminum, which serve as the positive electrode in ternary lithium batteries. All three are indispensable, each playing a crucial role, and their characteristics also constrain battery performance. Lithium iron phosphate batteries, on the other hand, use lithium iron phosphate (LiFePO4) as the positive electrode material, employing iron as the battery raw material. The PO bonds in lithium iron phosphate crystals are very stable and difficult to decompose. Even at high temperatures or under overcharge, they do not experience structural collapse, heat generation, or the formation of strong oxidizing substances, thus possessing excellent safety.
Structurally, ternary lithium batteries have high energy density and high charge/discharge efficiency, but they are also not resistant to high temperatures. Lithium iron phosphate batteries have the advantages of lower cost, stable structure, and longer charge/discharge cycle life, but they also have problems such as low energy density, low charge/discharge efficiency, and poor performance at low temperatures.
In terms of application, ternary lithium batteries are generally suitable for scenarios that require high energy density, have limited space, and have high requirements for customer experience, such as mid-to-high-end passenger vehicles; while lithium iron phosphate batteries are suitable for scenarios with large space, the ability to install large-volume batteries, high safety performance, and the need for long-term uninterrupted operation, such as commercial vehicles and energy storage facilities.
