Compared with ternary batteries, lithium iron phosphate battery only has one drawback: lack of energy density. So byd, ningde era represented by the companies trying to take advantage of the lithium iron phosphate to compensate for this shortcoming, has made some achievements. ( 3) Technological progress fast: use the safety of the lithium iron phosphate redundancy to make up for a lack of energy density, such as the era of ningde CTP technology, solar energy equipment, namely Cell to PACK, reduce the production of parts and components, battery energy density can reach 200 wh/Kg. As byd's blade battery technology volume density can be increased by 50%, the two technologies is the 2019 battery enterprise at the system level & other Beautiful & throughout; Innovation, to increase the vehicle range, the promotion of new energy vehicles, such as security, decrease the cost of batteries is of great significance. But both costs are falling space in the future. EVA back then what are the advantages and disadvantages for lithium iron phosphate power battery, will have a significant impact for cobalt metal? What are the underlying worth the investment? Energy analyst at guotai junan securities mainly have the following conclusion: the second: electric vehicles. the cobalt metal proportion is not high, solar energy, at the same time, we believe that the key development direction of lithium iron phosphate is low-end models, not with the ternary cell formation to face competition, first: about 90% of the cobalt metal used in the high temperature alloy, carbide and mobile phone battery, 5 g handset replacement of 2020, China solar energy network, will inevitably drive demand for cobalt metal. ( 1) Low cost: lithium iron phosphate lithium iron phosphate is at zero cost. RMB 65 / wh, is far less than three yuan 0 battery. RMB 85 / W, lithium iron phosphate has better safety performance at the same time, the low cost models with stronger competitiveness. ( 1) Low cost: because do not need cobalt metal, so the lithium iron phosphate battery costs low, photovoltaic (pv) with the current price is 0. 65 yuan/wh, solar panels, battery is far lower than the three yuan 0. RMB 85 / w. Wind power in the reason is that a few years back to the excess make full use of the safety of the lithium iron phosphate, to do the battery, wind power, a few years back was supposed to make up for a lack of energy density. ( 2) Batteries are rapidly increasing the energy density: the blade with CTP can be a single cell/battery pack volume by 45% to 60% or more, a sharp narrow space, increase the vehicle range. So overall we think that will not cause disturbance to the cobalt. The difference between the substrate and wafer media tesla will use ningde era production of cobalt free battery triggered heated debate, the new energy analyst at guotai junan securities, said simply cobalt free batteries is the lithium iron phosphate power battery. We think this also need not worry, cobalt belong to typical cycle, solar energy, supply and demand together determine the price of the product, thus affecting the corresponding enterprise profits, cobalt on the supply side glencore shut down 2. 40000 tons, everybody is concerned about the demand side, but we don't think impact: the third: under the background of the rapid increase in the electric permeability, the cake is bigger and bigger, the ternary the anode, and lithium iron phosphate anode demand is growing, not only the demand for cobalt pressure, on the contrary, will promote the increase of the demand of cobalt. ( 4) Commercial fast fall to the ground: ningde era and baic reached CTP application of strategic cooperation, EVA back pv with byd's blade batteries also applies in March 2020, the first han this car.