The History of BYD
Founded in 1995, BYD began as a rechargeable-battery factor competing in the Chinese market against Japanese imports. Within ten years, the company grew quickly capturing more than half of the world’s mobile-phone battery market, and became the one of top four manufacturers of all types of rechargeable batteries. BYD has played a pivotal role in various industries including electronics, automobiles, new energy, rail transit, and materials handling equipment. In September 2008, MidAmerican Energy Holdings, a subsidiary of Warren Buffett‘s Berkshire Hathaway Inc., invested in BYD with the acquisition of 225,000,000 of its H-shares at HK$8 per share.
BYD in Innovation
BYD has been world-widely recognized for innovation. In 2010, the company topped the 2010 Bloomberg Businessweek Tech 100 List, a list of large, fast-growing tech companies. In the same year, Fast Company also ranked BYD as the 16th most innovative company in the world. In2016, the company won the Zayed Future Energy Prize, bringing world recognition to Chinese new energy vehicles. In 2017, PV Magazine has awarded BYD the top category of innovation on its newly launched battery storage system that advances progress in three categories: modularity, charging and discharging capacity, and efficiency. In 2019, the company was ranked No.3 in Fortune’s “Top 50 companies that have changed the world for the better in the last 10 years”.
BYD’s Lithium Battery Forklifts
Leading the world in lithium battery technology and supply chain, BYD forklift has spent its past 10 years to become one of the largest lithium MHE manufacturers. As other forklift manufacturers are still focusing on normal Li-Ion batteries, BYD has become one of the world leaders in LiFePO4 Lithium technology and is in the top 10 list of manufacturers of Lithium Iron Phosphate (LiFePO4) batteries. Comparing with other Li-Ion approaches, LiFePo4 batteries have multiple advantages including longer cycle life, constant discharging voltage, higher current or peak-power ratings, a slower rate of capacity loss, improved battery safety and avoidance of cobalt’s cost and environmental concerns.
Nevertheless, as the company owns and controls the complete process from the ground to the vehicle, BYD manufactures their forklifts to meet the highest standard with their own maintenance-free LiFePO4 batteries. They have been manufacturing forklifts for their local market for a long time and commenced exporting to the USA and Europe in 2014 and Australia in 2019.
EForklift can guide you to the right Lithium MHEs
Still, wondering why you should switch to Lithium? eForklift has the answer. Our dedicated professional material handling experts will guide you to the right equipment and explore the benefits of switching to Lithium.