LFP
Lithium iron phosphate: a lithium-ion chemistry without cobalt, lower in cost, with less energy per kilogram than NMC.
Explained in
What is inside a battery pack?From cell to module to pack: how an electric car stores its energy, why two chemistries share the market, and what the battery management system does.LFP, lithium iron phosphate, contains no cobalt and costs less. In 2025, LFP packs were on average more than 40% cheaper per kWh than NMC packs, partly because the average includes stationary storage, which mostly uses LFP and needs less energy density.
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Related terms
- IEA: Global EV Outlook 2026: Electric vehicle batteries. https://www.iea.org/reports/global-ev-outlook-2026/electric-vehicle-batteries. Checked 09 Oct 2026. Licence: CC BY 4.0.