With the booming development of the global new energy market, lithium iron phosphate cathode materials and lithium iron phosphate batteries have become the "center stage" of the global new energy market.
       Since the beginning of 2025, multiple companies from China, Japan, and South Korea have announced plans to expand their production of lithium iron phosphate. This also means that the global market for lithium iron phosphate has once again begun its expansion track.
       The International Energy Agency predicts that by 2030, the share of lithium iron phosphate batteries in the global power battery market will further increase to 50%, comparable to ternary batteries.
       Undoubtedly, Chinese lithium battery industry chain enterprises have a clear first mover advantage and are continuously promoting the globalization of lithium iron phosphate batteries. At the same time, Japanese and Korean companies are also catching up with Chinese companies, and the competition for localized supply of lithium iron phosphate batteries in the global market has begun.
      In December 2024, CATL and Stellantis simultaneously disclosed that they will jointly invest in the establishment of a joint venture company to build a new joint venture battery factory in Spain. The factory plans an annual production capacity of 50GWh, and the produced lithium iron phosphate batteries will be supplied to Stellantis. In addition, the factory in the United States jointly built by CATL and Ford also plans to produce lithium iron phosphate batteries.
       Based on the CLS global cooperative business model (CLS stands for Cooperative, Technology License, and Service), EVE Energy's joint venture battery factory with Cummins, Daimler Trucks, and Pekka has started construction in the United States in 2024. It is reported that the factory will produce square lithium iron phosphate batteries, mainly used in designated North American commercial vehicle fields, with a planned annual production capacity of about 21GWh, and is expected to start shipping in 2026.
      The lithium iron phosphate battery factory invested and constructed by Far East Power in Spain has started construction in July 2024 and is planned to be put into operation in 2026.
       In fact, behind the global market competition for lithium iron phosphate cathode materials and battery expansion is the rapid growth of new energy vehicles and energy storage markets, as well as the increasingly urgent demand for high-performance and low-cost batteries. With the large-scale release of demand for lithium iron phosphate batteries in markets such as Europe and America, localized supply capacity will be a severe challenge for enterprises in various countries.
       It is worth noting that, except for the Chinese market, there is a clear trend of expanding production of lithium iron phosphate in other global markets. Industry insiders point out that in the process of expanding production, Chinese overseas enterprises still need to carefully evaluate factors such as market demand, capacity planning, and cost control to ensure the smooth        implementation and sustainable development of expansion plans.