Average Cost of Lithium-ion Batteries Down 89% Since 2010

Source: Visual Capitalist

Electric forklifts aren’t new like electric cars are. In fact the Pennsylvania Railroad began using battery powered platform trucks to lift luggage as far back as 1906! But lithium-ion adoption for lift trucks is a newer trend. And as prices drop for new lithium-ion batteries, more customers will buy them instead of lead-acid batteries. The lithium-ion battery is superior to the lead-acid battery but adoption isn’t widespread yet because of price.

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