Mitra Chem powers up LFP battery push

Battery material manufacturer Mitra Chem has successfully synthesised at scale lithium iron phosphate (LFP) materials that meet the specifications of leading US EV manufacturers.

Following these larger batches of production samples, Mitra Chem is looking to launch into the North American market with IRA-compliant products this year.

“We are prioritizing rapid scale-up of LFP based on strong customer feedback," said Mitra Chem CEO Vivas Kumar. "Our multi-ton-scale LFP production and subsequent customer sampling is a stepping stone to our own manufacturing build, and positions us as a frontrunner in the North American cathode active material market.”

Unlike the other major type of lithium-ion chemistry, NMC, LFP batteries do not contain nickel and cobalt – materials that have doubled in price since 2021 and are prone to thermal runaway if physically damaged.

LFP cells are less energy-dense than NMC cells, meaning that bigger batteries are needed for the same power output, but are cheaper than nickel chemistries.

LFP-based chemistries made up over two-thirds of the Chinese battery production in 2023, but adoption in other markets has been slow to date. Major US OEMs Tesla and Ford, however, are known to use LFP batteries in certain EVs, which they source from Chinese suppliers.

Using US-manufactured LFP materials will ensure that US EV manufacturers comply with proposed Department of Energy rules on the involvement of “foreign entities of concern” (FEOC) in the battery supply chain, according to Mitra Chem.

Last year the firm raised $60mn in a Series B funding round led by GM, which wants to use Mitra Chem's new battery chemistries in its EVs.

EV component manufacturer BorgWarner recently licensed the LFP battery technology of BYD subsidiary FinDreams Battery for use in battery packs for vehicles in Europe, the Americas, and select regions of Asia Pacific.

“The lithium iron phosphate battery chemistry is an exciting technology that is becoming increasingly important globally due to its cost competitiveness,” says Frédéric Lissalde, President and CEO of BorgWarner.