As an upgraded product of lithium iron phosphate, LMEP has improved the low-temperature performance of lithium iron phosphate while increasing its energy density, and improved its cost-performance, safety and recycling more efficiently than ternary materials. And is expected to gradually replace lithium ferrophosphate and medium-and-low nickel ternary materials in the power battery field in the future. According to estimate based on market research data, the penetration rate of LMFP in new energy vehicle market will reach 5%-10% in 2025 and over 30% in 2030, and that in phosphate field is expected to exceed 50% in 2030. At present, global automakers, battery manufacturers and cathode manufacturers are implementing their LMEP development plans.