LiFePo/LFP batteries were around for a long time. They are cheaper, have more charge cycles (up to 10k if you only use 40 to 60% of their rated capacity) and are safer. But they are less energy dense and charge slower. They are ideal for grid storage. But for cars it means they will increase weight. Hyundai went the other route. They intend to add a lot of range so that you need to charge less often (and save up the "charge cycles").
At least that is the theory behind this new development. 500 cycles might be enough for the "lifetime" of the vehicle (for the manufacturer that is until the warranty expires).
As always the most important spec of the new battery will be if it explodes in any unfavorable conditions.

BYD's Lithium Iron Phosphate Batteries are already doing 3000 recharges.........With nearly Everyone charging overnite at Home...This is the way to go for at least 2----5 Years........Paul