Lithium‑ion battery breakthroughs fuel research and forklift market shift

Researchers at Caltech have demonstrated a new 3‑dimensional architected cathode made from lithium iron phosphate (LFP) and a carbon matrix, eliminating cobalt and improving mechanical resilience. The additive‑manufactured electrode reduces ion travel distance, boosting power density and safety, and is seen as a step toward fully solid‑state batteries for high‑performance transport.

Meanwhile, forklift manufacturers such as Hyster‑Yale, Big Joe and The Raymond Corp. are rapidly expanding in‑house lithium‑ion power solutions. Industry analysts project that Li‑ion forklifts will represent more than 70% of the global full‑electric forklift market by 2034, up from about 32% in 2024. Integrated offerings—combining trucks, batteries, chargers and service—are designed to lower adoption barriers and cut costs for warehouse operators.