LMFP operates at a higher voltage than LFP, its theoretical energy density can reach up to 230 Wh/kg, which is 15% to 20% greater than that of LFP batteries.

CATL, BYD, and Gotion High-Tech are expanding production capacities and forming strategic partnerships according to battery expert Magnus Bekker.

LMFP production

CATL: Building a 120 GWh LMFP-capable plant in Sichuan, China, set to begin production in 2024.

BYD: Expanding into Europe with a new 20 GWh factory in Hungary, scheduled to come online in 2024.