Climate change, emissions, congestion, and safety constitute major issues today. Reducing the impact of greenhouse gas emissions, energy consumption and exhaust emissions from the transport sector on the global climate and environment has become the consensus of world governments and organizations. Due to the problems of exhaust gas pollution and fossil fuel consumption, traditional fuel vehicle mobility is increasingly subject to legal restrictions and facing great pressure for energy conservation and environmental protection.
Electrification will play an important role in the transformation of the mobility industry and presents major opportunities in all vehicle segments. Regulation, consumer behavior, and technology are three main drivers in this transformation. Governments and cities have introduced regulations and incentives to accelerate the shift to sustainable mobility. Regulators worldwide are defining more stringent emissions targets. Most governments are also offering EV subsidies. Cities are working to reduce private vehicle use and congestion by offering greater support for alternative mobility modes like bicycles. Many urban areas have already created access regulations for low emissions and pollution emergencies. Consumer behavior and awareness are changing as more people accept alternative and sustainable mobility modes. Inner city trips with shared bicycles and e-scooters have beening rising year-over-year. In addition, consumers are becoming more open to shared mobility options. This can help reduce vehicle miles traveled and emissions. Industry players are accelerating the speed of automotive technology innovation developing new concepts of electric, connected, autonomous, and shared mobility. Such technology innovations will help reduce EV costs and make electric shared mobility a real alternative to owning a car.
Lithium ion batteries have become the dominant choice for powering EVs due to a range of advantages over other battery technologies. One of the most significant benefits of lithium ion batteries is their high energy density, which allows the vehicle to travel longer distances on a single charge. Not only that, but lithium ion batteries have a relatively low self-discharge rate and a long lifespan, ensuring that the stored energy remains available for an extended period, even when the vehicle is not in use. Driven largely by the imperative to reduce climate change through electrification of mobility and the broader energy transition market demand for lithium ion batteries for EVs is increasing. Global demand for Lithium ion batteries is expected to soar over the next decade. Batteries for mobility applications, such as electric vehicles, will account for the vast bulk of demand. This is an unsurprising trend seeing that mobility is growing rapidly.
Lithium batteries are widely used in vehicles, sightseeing and leisure, logistics, express deliveries, sanitation, medical equipments and other light traffic or power fields. Electric vehicles use lithium ion batteries as an energy source and convert electrical energy into mechanical energy through components such as controllers and motors to control the speed of the electric current. It is in line with the trend of national energy conservation and environmental protection, and gradually replaces traditional fuel engines and lead acid battery powered cars, playing an important role in the national economy.
We are committed to providing safe and reliable power solutions for the marine industry. Compared with traditional lead acid batteries, lithium ion battery solutions have significant advantages such as lightweight, compact size, high power, long life, safety and environment friendly. With years of industry experience and unique battery technology, we can provide lithium-based propulsion power, UPS and emergency backup solutions for offshore commercial projects such as commercial vessels, water taxis, tugboats and ferries.
Electric aircraft uses electric propulsion systems. Aviation equipment batteries must be able to withstand climate and other environmental changes and have long travel distances, but be lightweight and compact in size. We are committed to developing lithium battery solutions with high energy density and convenient maintenance for the aviation industry.
The batteries can operate in a variety of temperatures, humidity and pressure, can be used as backup power for aircrafts, and can also be used as emergency power in the event of power system failure. It has a light weight, energy saving and more compact design. It is easy to maintain, minimizes noise and vibration, and reduces exhaust emissions. If integrated with solar energy, it can also store solar energy during the day and release stored energy at night, reducing fuel consumption and saving costs.