Renault’s electric vehicle arm Ampere on Watch Project Power OnlineMonday announced it will integrate lower-cost lithium iron batteries into several models under the Renault and Alpine brands over the next years in partnerships with Chinese battery maker CATL and South Korea’s LG Energy Solution. This means that the French automaker will add lithium iron phosphate (LFP) cell chemistry for EV batteries to its portfolio, alongside more energy-dense yet expensive nickel cobalt manganese (NCM), hoping to meet the demand for lower-priced EVs. The goal is to reduce by 2026 roughly 20% of vehicle battery costs. Chinese EV battery duopoly, CATL and BYD, dominate the world’s battery market with cheap cells using LFP as the cathode material, with a combined market share of 53.1% from January to April 2024, according to data from Korean renewable energy consultancy SNE Research. CATL recorded shipment of 27.7 gigawatt-hours (GWh) worth of battery during the period in global markets excluding China, up 16.2% from a year earlier and ahead of LG Energy Solution in second place. [TechNode reporting, Renault announcement]
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