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- LFP Batteries: Lithium iron phosphate (LFP) batteries are a type of lithium-ion battery known for their lower cost, safety, and long cycle life, though they have lower energy density compared to alternatives like NMC batteries.
- EV Adoption: The process of expanding consumer and market uptake of electric vehicles, driven by factors such as affordability, charging infrastructure, and battery technology improvements.
- Lithium-Ion Battery: A rechargeable battery technology widely used in electric vehicles, laptops, and smartphones, valued for its high energy density and efficiency.