1、Automotive&Assembly PracticeThe battery chemistries powering the future of electric vehiclesBattery chemistry for electric vehicles is evolving rapidly,leading to repercussions for the entire value chain.This article is a collaborative effort by Timo Mller,with Clemens Cepnik,Marcelo Azevedo,Nicol C
2、ampagnol,and Yunjing Kinzel,representing views from McKinseys Automotive and Assembly Practice.December 2024Battery technology has evolved significantly in recent years.Thirty years ago,when the first lithium ion(Li-ion)cells were commercialized,they mainly included lithium cobalt oxide as cathode m
3、aterial.Numerous other options have emerged since that time.Todays batteries,including those used in electric vehicles(EVs),generally rely on one of two cathode chemistries:lithium iron phosphate(LFP),which was invented by Nobel Prize winner John Goodenough in the late 1990s and commercialized in th
4、e early 2000slithium nickel manganese cobalt mixed oxide(NMC),which evolved from the first manganese oxide and cobalt oxide chemistries and entered the market around 20081LFP is based on a phosphate structure with only iron as its transition metal,and researchers have also developed a new iron and m
5、anganese form,termed LMFP,which was commercialized this year(for more information on cathodes and other battery components,see sidebar,“How energy is stored and released”).Although LFP has some advantages over NMC,including a more favorable safety profile and lower cost,automotive OEMs have preferre
6、d NMC chemistry for the past ten years because its higher energy density(the amount of energy that can be stored in a given mass or volume)provides a longer driving range.The balance could soon shift globally in favor of L(M)FP batteries,however,because technological improvements over the past few y
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