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Another major player in the market is Contemporary Amperex Technology (China). The company opts for contracts & agreements as its inorganic business strategy for increasing its clientele base globally. For instance, in May 2019, the company was awarded a contract by Eugene Enerfarm for its energy storage system project. Under the contract, the company supplied lithium iron phosphate batteries that support energy storage systems and provide better safety and longevity.
Recent Developments
This research report categorizes the lithium iron phosphate batteries market by power capacity, industry, application, and region.
In February 2019, BYD introduced a next-generation lithium iron phosphate battery technology for its forklifts and warehouse equipment. The advanced lithium iron phosphate batteries are cost-effective and maintenance-free.
In January 2019, RELiON launched a next-generation series of lithium iron phosphate batteries named the Insight Series. The batteries are designed for deep-cycle applications such as marine, renewable energy systems, floor machines, and recreational vehicles.
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Shenzhen Zhifu New Energy Co., Ltd. , https://www.sunbeambattery.com