China’s BYD confirmed that it is going all-in on LFP (lithium-iron-phosphate) batteries, scrapping NCM (nickel, cobalt, manganese) technology from its model line-up entirely. BYD, which is backed by legendary US investor Warren Buffet through a 21% stake, is the second-largest electric vehicle brand by volume behind Tesla and also supplies other carmakers with its battery technology. The Shenzen-based company is not only touting its ‘Blade’ technology as a significantly cheaper option but is making much of the safety of LFP versus ternary chemistries, particularly those with high nickel and low cobalt content, which carry a greater risk of fire. BYD chairman Wang Chuanfu told the South China Morning Post “some 124 incidents of NEVs emitting smoke were recorded in China last year.” “Some industry participants have irrationally gone after NCM batteries [to chase after] ever-higher driving range, at the expense of stability and safety.” BYD’s blade battery packs achieve […]