our business

Creating Materials
That Power
the Next-Generation
Energy Society

SMM VIETNAM manufactures and sells lithium iron phosphate (LFP),
a cathode material for next-generation lithium-ion batteries (LIBs).
As mobility becomes increasingly electrified and renewable energy underpins social infrastructure,
we contribute to building a sustainable society through LFP.

Example of LFP battery application: Electric vehicles

What Are LFP Batteries
and
Cathode Materials?

What Is an LFP Battery

LFP batteries (lithium iron phosphate batteries) are a type of lithium-ion battery that use lithium iron phosphate (LiFePO4) as their cathode material.

LFP battery

Features

Cost-Effective

Does not use rare metals
like cobalt or nickel,
making it inexpensive to produce.

low cost
Safe

Low risk of ignition,
offering
high safety.

safety
Long-Lasting

Long battery life and
durability.

long-lasting

Main
Applications

Electric Vehicle (EV)
Electric vehicles (EVs)
Stationary energy storage system
Stationary energy
storage systems

What Is a Cathode Material

Cathode materials are used in the positive electrode of lithium-ion batteries and play a critical role in
determining battery performance.

SMM VIETNAM

LFP Cathode Material

LFP cathode material

Battery Manufacturers

LFP cathode material with binder is
coated on both sides of aluminum foil.

Aluminum foil

Illustration explaining the cathode and anode of a lithium-ion battery.

Why
LFP Batteries Now?

Global Market Size of LFP
Batteries

2024

19.07

billion USD

2032

124.42

billion USD

Compound
Annual
Growth
Rate (CAGR)

25.62 %

Background

  • Does not use rare metals such as cobalt and nickel, reducing resource risks and lowering costs
  • Minimal fire risk and enhanced safety
  • Expanded usein EVs, hybrid vehicles, and buses
  • Rising demand for energy infrastructure solutionslike stationary batteries

Market Size of LFP Batteries

Graph of the market size of LFP batteries.

Source: Fortune Business Insights, “Lithium Iron Phosphate Battery Market Size, Share & Industry Analysis, by Type (Portable Batteries, Stationary Batteries), by Application (Automotive, Industrial, Energy Storage Systems, Consumer Electronics), and Regional Forecast, 2024-2032” Feb 03, 2025

Differences Between
LFP Batteries
and Other Batteries

LFP

(Lithium Iron
Phosphate)

NMC

(Nickel Manganese Cobalt)

LCO

(Lithium Cobalt Oxide)

Safety


Stable with low
risk of fire

Relatively safe, but sensitive to heat

Unstable at high temperatures

Cost


Low cost
(no rare metals)

Includes expensive materials like cobalt

Highly dependent
on cobalt

Lifespan
(Charge Cycles)


Long lifespan
(2,000+ cycles)

Around
1,000–2,000 cycles

Relatively short

Energy Density


Moderate

High

Very high

Main Applications

EVs, energy
storage systems
EVs,
power tools, e-bikes
Smartphones,
cameras

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