A composite material having utility as a cathode material for a lithium ion battery includes a first component which is a metal phosphate and a second component which is a metal nitride, a metal oxynitride, or a mixture of the two. The second component is coated on, or dispersed through the bulk of, the first component. The metal phosphate may be a lithiated metal phosphate and may be based upon one or more transition metals. Also disclosed is a method for preparing the material as well as electrodes fabricated from the material and lithium ion cells which include such electrodes.