TOKYO -- Nissan Motor will manufacture lithium-ion batteries with lower-cost materials, with plans to install them in electric vehicles sold in emerging markets as soon as 2026, Nikkei has learned.
The Japanese automaker plans to produce lithium iron phosphate (LFP) batteries, which are about 20% to 30% cheaper to make than conventional lithium-ion batteries containing nickel, cobalt and manganese (NCM). The tradeoff is that LFP batteries have less energy density than NCM batteries, which shrinks driving distance per charge by 20% to 30%.
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