Last summer, Hongjin, a company committed to popularizing lithium-iron phosphate battery electric forklifts, signed a KLIFT purchase and delivery contract with NongHyup Agribusiness Group (CEO Sungtae Woo). The group is a leading agricultural product brand that supplies safe and excellent domestic agricultural products from farmers to consumers. “They only deal with domestic produce, and it’s very rewarding to be able to establish a strict food safety surveillance system and be responsible for the safety of the field to supply reliable produce,” Hongjin said.

▲ Hongjin / CEO Jinki Hong

2023 Keyword: Secondary Batteries

A small but strong company that is growing presence in e-forklift

Secondary batteries are one of the hottest buzzwords for 2023, and they are used semi-permanently by recharging. While primary batteries cannot be reused after a single use, secondary batteries can be recharged and used continuously. That’s why they’re used in IT devices, electric vehicles, energy storage, and more. A secondary battery consists of an anode and a cathode, an electrolyte, and a separator so that it can be charged and discharged repeatedly. When lithium ions are used as a rechargeable material, electricity is generated by the electrical flow of lithium ions through the electrolyte between the anode and cathode. Lead-acid batteries are heavy and have the disadvantage of decreased lifespan and performance if left discharged for long periods of time. As an alternative, LFP batteries are eco-friendly and economical due to their long lifespan, fast recharge time, and the fact that they can be used without replacement. This is one of the reasons that the LFP battery forklifts that Hongjin has been popularizing for several years are making a name for themselves. The company has built strong collaborations with global brands, selling and leasing lithium iron phosphate electric forklifts, manufacturing lithium iron phosphate batteries, and providing industrial tires alongside demonstrating the efficiency and safety of logistics with the e-KLIFT powered by CATL lithium iron phosphate batteries. Secondary battery forklifts have also seen a steep increase in demand as ESG management in the industry is spreading rapidly in line with the government’s green initiative. Hongjin supplies lithium iron phosphate logistics equipment from EP, known as the world leader in logistics equipment, as well as KLIFT-based BYD, HANGCHA, and EP. Available online and offline, e-KLIFTs range from 1.5 tons to 10 tons.

From agriculture to construction to industrial sites

Workplace safety and driver safety are two areas that are often overlooked. And let’s not forget the efficiency and safety of forklifts. The LFP electric forklifts supplied by Hongjin are equipped with overload prevention and brake assist systems, and have been recognized for their efficiency and safety. In particular, the e-KLIFT for agriculture and livestock was highly praised for its high ground clearance with a diesel body and convenient charging method. The large steering wheel, ergonomic seat, and charging port cover maximize operator comfort, improving maneuverability and ease of maintenance, making it ideal for agricultural, livestock, and off-road applications. The company first introduced the KLIFT lithium-iron phosphate electric forklift for agriculture at the Korea International Exhibition of Machinery Material Science & Technology for Agriculture last year, where it scored high marks for safety.

A company representative said, “We believe this agreement will help further popularize lithium iron phosphate battery electric forklifts. We will do our best to provide a wider range of secondary battery electric forklifts through continuous R&D.” Hongjin continues to grow as a lithium battery company and is pursuing an IPO with DB Financial Investment as the lead arranger. This is a lithium battery that uses Fe instead of cobalt, a rare metal, so the cost of raw materials is relatively low, and the Olivine structure is safer than the layered structure of general lithium-ion batteries, so the company is attracting a lot of attention. As the annual replacement of aging diesel forklifts is expected to be about 20,000 units, the focus on secondary batteries is expected to be further amplified, and Hongjin’s move as a ‘specialized lithium iron phosphate battery brand’ will be closely watched.