Why The Slate Truck Will Use LFP Batteries After All

Slate announced on March 18, 2024, that its upcoming electric truck will utilize Lithium Iron Phosphate (LFP) batteries, reversing an earlier decision to use Nickel Manganese Cobalt (NMC) cells. The company initially opted for NMC batteries, citing their higher energy density and performance characteristics, which were deemed suitable for the truck's intended market. However, after further evaluation and considering the evolving battery landscape, Slate determined that LFP batteries offer a more compelling balance of cost, safety, and longevity for its "bare-bones, affordable EV" strategy. This shift reflects a broader industry trend where LFP batteries are gaining traction due to their lower cost and absence of cobalt, a material often associated with ethical sourcing concerns and price volatility. Slate's decision aims to make its electric truck more accessible to a wider consumer base by reducing manufacturing costs associated with the battery pack, which is a significant component of an electric vehicle's overall price. The company expects the LFP battery chemistry to align with its commitment to delivering a durable and cost-effective electric vehicle solution.