As of 2024, the specific energy of CATL's LFP battery is claimed to be 205 watt-hours per kilogram (Wh/kg) on the cell level.

Notably, the specific energy of Panasonic’s “2170” NCA batteries used in Tesla’s 2020 Model 3 mid-size sedan is around 260 Wh/kg, which is 70% of its "pure chemicals" value.

Arumugam Manthiram and John B. Goodenough first identified the polyanion class of cathode materials for lithium ion batteries.

Because of its low cost, non-toxicity, the natural abundance of iron, its excellent thermal stability, safety characteristics, electrochemical performance, and specific capacity (170 mA·h/g, or 610 C/g) it has gained considerable market acceptance.

[23] [24][25] Another approach by Yet Ming Chiang's group at MIT consisted of doping[19] LFP with cations of materials such as aluminium, niobium, and zirconium.

Negative electrodes (anode, on discharge) made of petroleum coke were used in early lithium-ion batteries; later types used natural or synthetic graphite.

[43] One important advantage over other lithium-ion chemistries is thermal and chemical stability, which improves battery safety.

[44][35][better source needed] LiFePO4 is an intrinsically safer cathode material than LiCoO2 and manganese dioxide spinels through omission of the cobalt, whose negative temperature coefficient of resistance can encourage thermal runaway.

[47] Though lower energy density compared to other lithium chemistries adds mass and volume, both may be more tolerable in a static application.

Tesla Motors continued to use NMC batteries in its home energy storage products until the release of the Power Wall 3 in 2023.

[48] According to EnergySage the most frequently quoted home energy storage battery brand in the U.S. is Enphase, which in 2021 surpassed Tesla Motors and LG.

[49] Higher discharge rates needed for acceleration, lower weight and longer life makes this battery type ideal for forklifts, bicycles and electric cars.

[54] In February 2023, Ford announced that it will be investing $3.5 billion to build a factory in Michigan that will produce low-cost batteries for some of its electric vehicles.

[56] As AA-sized LFP cells have a capacity of only 600 mAh (while the lamp's bright LED may draw 60 mA), the units shine for at most 10 hours.

However, if triggering is only occasional, such units may be satisfactory even charging in low sunlight, as lamp electronics ensure after-dark "idle" currents of under 1 mA.