Early this month there are rumors that Xpeng P7 with lithium iron phosphate batteries will be released on March 3, with a range of 480km. In this regard, Chinastarmarket.cn quoted Xpeng insiders as saying that the news is true.

The new model will be officially announced on March 3, the report said.

The Xpeng P7 is an all-electric mid-size coupe that includes four range options and a subsidized price range of RMB 229,900-349,900 yuan.

Lithium iron phosphate batteries have the advantages of high operating voltage, high energy density, long cycle life, good safety performance, low self-discharge rate, and no memory effect.

Lithium iron phosphate battery is gradually replaced by ternary lithium batteries around 2015 because of the low energy density, coupled with China's policy reasons.

However, in recent years, the lithium iron phosphate battery technology has progressed, the safety of the battery stability and lower cost and other characteristics, it is also increasingly used by more and more car companies.

China-made Tesla Model 3 entry model is currently using CATL's lithium iron phosphate battery with a price tag of RMB 249,900 yuan.

With the increase in the cost of ternary lithium batteries and frequent safety issues, the choice of two technical routes not only for car companies to ease the cost pressure, but also an important step in the battery strategy reserve.

BYD has long been a fan of lithium iron phosphate batteries, has always insisted on choosing the lithium iron phosphate route. SAIC Group is in some starting versions as well as the plug-in hybrid version using lithium iron phosphate batteries.