LFP cooldown: Huayou exits LFP cathodes as competition mounts

Huayou Cobalt has decided to withdraw from producing lithium iron phosphate (LFP) cathodes, in a sign of the mounting competition in the sector as the cheaper battery material grows in popularity.

China’s largest cobalt producer said it would focus on producing nickel cobalt manganese (NCM) cathode “to further improve the concentration of competitive resources and improve the efficiency of capital use.”

The decision comes after a number of new players decided to enter the LFP business in China over the past year, including titanium dioxide producers, as well as companies involved in real estate, fertiliser, and even cashmere. That . . .


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