(Corrects story and headline to say makers pledge $11.3 billion, not $14.3 billion for lithium iron phosphate plants)By Paul Lienert:Interest and investment in lithium iron phosphate (LFP) battery cells and materials, used to power electric vehicles, continue to climb in the United States. LFP is a lo
:Interest and investment in lithium iron phosphate battery cells and materials, used to power electric vehicles, continue to climb in the United States. LFP is a lower-cost competitor to nickel cobalt manganese cells.
Six companies have committed more than $11 billion in future LFP manufacturing facilities in the U.S., with others, including Tesla and Rivian, reportedly considering similar investments.Ford Motor is planning to open a $3.5 billion LFP manufacturing plant in 2026 in Marshall, Michigan, using technology licensed from China’s CATL.South Korea’s LGES plans to add LFP production later this year to its Holland, Michigan, battery cell plant as part of a $1.7 billion expansion.
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