Ford will be switching over to Lithium Iron Phosphate battery from the Lithium Ion battery. Here's some pro's and con's

Pros:
Cost much less than lithium ion because they don't use exotic materials. ~10-15% BOM savings for Ford
The iron and phosphate are some of the most abundant materials on the planet
Provides 2-4 longer lifespan compared to lithium ion
Not a fire hazard (Big plus for Ford right now)
No charging rules. You can charge to 100% and drain to 0% with no ill effects

Cons:
As of now the energy density is 50% lower than lithium ion. Could be on par with lithium ion in the future.
Vehicles using iron phosphate batteries are typically heavier due to needing more cells to make up for the lack of battery density

 

I had no idea the tech on this new gen battery would be caught up with lithium energy density so soon. Damn am I glad I'm waiting until 2024. I wonder what the charging rate is on those things. Thus far the only hesitation I've ever had or ever will for an ev is the volatility of lithium batteries. That new battery wipes out that worry.

 

Based on this video I'm assuming the charging rate can be increased. But is that true and how much is speculation on my part.