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This article analyses the Lithium Iron Phosphate Battery and the ternary lithium battery. With the development of new energy vehicles, people are discussing more and more about the batteries of electric vehicles. Nowadays, electric vehicles mainly use the lithium iron phosphate battery and the ternary lithium battery as energy sources. Existing research and articles have given the current performance of the two batteries but have not systematically compared the two batteries with more details. This article introduces the basic principles, cathode structure, and standard preparation methods of the two batteries by summarizing and discussing existing data and research. The article discusses the two types of batteries and concludes the advantages and disadvantages of the two batteries at the present stage. This article aims to help readers have a more comprehensive understanding of the basic information of the two batteries at this stage and provide theoretical guidance for future research on batteries for electric vehicles.