Forklifts have long been a reliable workhorse for moving materials from point A to point B. Now electric forklifts — and the lead-acid batteries and lithium batteries that power them — are becoming major players in the economic recovery following the Covid-19 pandemic.

　　Electric forklifts are considered industrial vehicles and are classified as "power equipment". It is amazing that 90% of the demand for power batteries is met by lead-acid batteries and lithium batteries. With the proliferation of new construction, these zero-emission forklifts will carry out heavy-duty transportation, moving basic materials from warehouses to construction sites.

　　East Penn Manufacturing, East Penn Battery Manufacturing Company Power Sales Vice President Jim Rubright said: "As the economy continues to rebound rapidly from the Covid-19 pandemic, the supply chain is facing huge challenges and we need to have clean and sustainable battery energy."

　　All of these will further increase the demand for electric forklifts and promote the global demand for power batteries to maintain an annual growth rate of 8% until 2030. Today, forklifts are a nearly 50 billion U.S. dollar market and are critical to the industrialization of e-commerce, retail, warehousing and logistics, and emerging markets.

　　Lithium-ion battery (LIB) has become the main energy storage solution in modern social life. Among them, lithium iron phosphate batteries are a perfect replacement for lead-acid batteries, and they are the first choice for grid-connected peak shaving, off-grid energy storage, photovoltaic energy storage, UPS, data center and other industries.

　　Compared with lead-acid batteries, lithium batteries have the advantages of long life, environmental protection, light weight, light weight, reliability and stability, and will surely become the standard configuration of electric forklifts in the future.