Soaring battery metal costs are leading to a renewed interest in ithium iron phosphate (LFP) batteries. Manufacturers are looking to cut cobalt use as they are looking to cut costs and improve their ESG profile. Tesla is making the switch to LFP mandatory in all its markets after a positive reception in the U.S. In the vast majority of cases, technological innovation leads to newer, cheaper, and more efficient designs than their predecessors. But every once in a while, technological progress goes into reverse gear when progress turns out to be turbocharged regress. ... During an investor presentation last year,...