The cost of lithium-ion batteries (LIBs) has undergone a remarkable reduction, decreasing by approximately an order of magnitude over the past 15 years, from around $1000/kWh to approximately $130/kWh today, following an exponential curve. However, achieving further cost reductions to around $20/kWh within the next 10-15 years is extremely challenging. Despite significant efforts over the past decade or so to decrease the use of expensive Co in LIBs, such as transitioning from NMC111 to NMC811 or NMC9055, semi-expensive Ni is still heavily used, and the manufacturing cost associated with the high-temperature synthesis of layered oxides remains largely unchanged. The manufacturing expense is also a factor in the high cost of LiFePO4, which only comprises abundant elements but requires expensive carbothermal synthesis and carbon coating.There appears to be a long quiet period in the discovery of new intercalation-type cathodes following the successful development of LiCoO2 (1979), LiMn2O4 (1984), LiFePO4 (1997), and the NMC family (1990s). To date, no cathode material for rechargeable LIBs beyond those listed above has been commercialized on a large scale. Here we present the recent discovery of a novel, low-cost intercalation cathode that demonstrates very good performances in an all-solid-state configuration and shows significant potential for commercialization. When paired with a competitive solid electrolyte, this cathode material displays two flat voltage plateaus averaging at 3.65 V, an impressive initial capacity of 159 mAh/g, a high energy density of 580 Wh/kg, and stable cycling. Characterizations via neutron diffraction and X-ray absorption spectroscopy reveal that the Li+ storage mechanism is associated with a topotactic intercalation-deintercalation reaction associated to a Fe2+/Fe3+ redox couple during cycling. Most importantly, this cathode material costs only 2% of LiFePO4 and 1% of LiCoO2, holding tremendous promise for commercial applications, particularly in large-scale energy storage such as grid storage.
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