Advantages of lithium iron phosphate battery: high safety, low cost and long life. The power battery is the core component of the new energy vehicle, which directly affects the key indicators such as the cruising range, charging performance and safety of the new energy vehicle. Lithium iron phosphate batteries are undoubtedly safe, environmentally friendly, and have a high number of cycles. Lithium iron phosphate batteries are considered to have higher safety than ternary lithium ion batteries with higher energy density.