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battery selection. The cathode chemistry is often the most critical design parameter to
optimize both energy density and durability (Boukhalfa & Ravichandran, 2020).
Lithium Nickel Manganese Cobalt Oxide (NMC)
NMC is the most common cathode chemistry, accounting for over 28% of global EV sales
and projected to rise to 63% by 2027 (Boukhalfa & Ravichandran, 2020). It typically has an
energy density of 250 Wh/kg, which could increase to 300 Wh/kg in the coming years.
Nickel-rich variants like NMC-532, NMC-622, and NMC-811 provide higher energy density
and reduced reliance on cobalt but may negatively affect cycle life. NMC batteries also show
strong cycle life performance, exceeding 2,000 cycles with 80% capacity retention (Jost Auf
der Stroth & Sellgren, 2024). Despite the high cost of cobalt, NMC batteries cost around 70–
90 $/kWh (Wentker et al., 2019), and the pack-to-cell cost ratio is between 2.4 and 2.6
(Wentker et al., 2019). Major manufacturers like Daimler, MAN, and Volvo use NMC in
their heavy-duty electric vehicles.
Lithium Nickel Cobalt Aluminium Oxide (NCA)
NCA offers similar energy densities as NMC, typically above 200 Wh/kg, with expectations
to reach 300 Wh/kg. However, NCA is slightly costlier than NMC, with costs ranging from
70–80 $/kWh (Wentker et al., 2019). Tesla is the only major manufacturer using NCA cells,
although it has not confirmed whether it will continue using NCA for its upcoming Tesla
Semi or switch to NMC cells (Tesla, 2020).
Lithium Iron Phosphate (LFP)
LFP batteries offer lower energy densities compared to NMC and NCA but excel in cycle
life, exceeding 2,500 cycles, and have higher charge/discharge rates (30% better than NMC
and NCA). LFP batteries are cost-effective, as they do not contain cobalt, leading to lower
costs around 60 $/kWh at the cell level (Manthey, 2020). The gravimetric cell-to-pack ratio
(GCTPR) for LFP is 80–90%, significantly higher than the 55–65% ratio for NMC and NCA
While LFP batteries are not as energy-dense as their nickel-based counterparts, recent
developments from companies like CATL and Guoxuan have achieved energy densities up
to 260 Wh/kg (Manthey, 2020). LFP technology is increasingly adopted in European heavy-
duty vehicles by manufacturers such as VDL and DAF (Kane, 2020; DAF, 2021).