China: LFP Battery Share For MIC Tesla Model 3 Reaches 88% In May

Tesla Model Y with LFP battery is expected soon.

By: Mark Kane

Jun 27, 2021 at 10:53am ET

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According to very interesting insurance data released by EV Observer (via Moneyball), Tesla Model 3 sales in China are dominated by the version with LFP (lithium iron phosphate) batteries.

Tesla produces in China two versions of the Model 3 that, as far as we know, are equipped with LG Energy Solution's NCM batteries or CATL's LFP batteries:

Standard Range Plus (SR+): LFP
Long Range Performance: NCM

The data - assuming it is correct - indicates that the SR+ version stands for a record share of 88% of all Made-in-China (MIC) Model 3 sold in China in May 2021:

November 2020: 47%
December 2020: 66%
January 2021: 74%
February2021: 85%
March 2021: 86%
April 2021: 86%
May 2021: 88%

Because the MIC Model Y is produced only in the Long Range AWD and Performance versions (with NCM batteries), the overall share of LFP is lower, at 37%.

November 2020: 47%
December 2020: 66%
January 2021: 66%
February2021: 63%
March 2021: 61%
April 2021: 46%
May 2021: 37%

The overall share of LFP decreases, because currently, the MIC Model Y is ramping up, while the MIC Model 3 sales stabilized.

One of the most interesting things is what will happen once Tesla introduces the entry-level Model Y with LFP batteries? According to rumors, such a version might be launched in July:

In China, just like in other markets, Tesla adjusts the prices from time to time and updates expected delivery times, depending on various factors. Currently, the Model 3 starts at 250,900 CNY ($38,860), after a subsidy (266,740 CNY before the subsidy).

What do you think?

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The Performance version starts at 339,900 CNY ($52,647) and subsidy is not eligible (due to the price cap).

The MIC Model Y LR starts at 347,900 ($53,886), while Performance version starts at 377,900 CNY ($58,532).