Tesla's Iron-Based Batteries to Revolutionize EV Affordability.
Tesla plans to use iron-based batteries, specifically lithium iron phosphate (LFP) technology, in an affordable electric vehicle and a semi heavy electric truck. LFP batteries are cheaper and less of a fire hazard than the nickel-based batteries currently used by Tesla. The company plans to use LFP batteries on short-range Semi light trucks and small electric vehicles, and eventually on the Model 3 and Model Y. Chinese suppliers dominate the LFP industry, but LG Energy Solution plans to manufacture them at a proposed factory in Arizona.