GUANGZHOU -- China's electric vehicle powerhouse BYD is emerging as a strong rival to CATL, the leading producer of EV batteries, by taking over as the top seller of a low-cost variety.
BYD has become the leader in moving lithium-iron-phosphate (LFP) batteries. This type is 20% to 30% cheaper than typical lithium-ion batteries made with nickel, cobalt and manganese (NCM).
