LiMn_xFe_1-xPO4 (x=0.4) (LMFP) solid solution system of olivine transition metal phosphates are considered to be very attractive cathode materials owing to their high redox couple and high theoretical capacity of 170mAh/g .With inherent low cost, stability at high temperatures, high energy density and non-toxic nature these materials are highly suitable for plug-in hybrid vehicles. Nevertheless, due to the low electrical conductivity and low Li ion diffusion kinetics makes these materials unsuitable for practical applications. In this research, carbon coated LMFP was synthesized by a modified solid state and a surfactant based sol-gel technique. The cathode materials obtained were characterized and performance was compared and evaluated. The materials obtained by both the processes showed similar morphologies and excellent cycle stability. The cathode materials prepared by sol-gel process delivered the best electrochemical performance when compared to solid state process.