In order to be able to sell the production version of the all-electric Renault 5 Prototype planned for 2023 at a profit, Renault is analyzing the LFP batteries. The price range of the Renault 5 should be between 20,000 and 30,000 euros.
The LFP batteries (lithium iron phosphate batteries) have a more reasonable price and together with the new CMF-B EV platform for compact electric vehicles, could ensure that this goal is easily achieved.
LFP batteries are more stable and more resistant to damages in the event of an accident. LFP batteries don't contain cobalt, which is still one of the most expensive metals in battery manufacturing. This is one of the reasons why they are cheaper than lithium-ion batteries with NMC (nickel, manganese and cobalt) cathodes. But, the energy density of LFP batteries is lower than that of NMC batteries. Also, LFP batteries can only offer reduced performance in cold weather.
However, it is unclear whether the electric Renault 5 will be offered exclusively with LFP batteries.
LFP batteries are not new technology. They are currently mainly used in China. For example, Tesla is now delivering its Model 3 SR + with LFP battery cells from CATL.