BAK Battery Supply TTI

Recently, BAK’s high-rate discharge batteries have passed the verification and confirmation of the global power tool leader TTI, and have begun to supply batches for many of its brands, with application products covering multiple product lines such as power tools and garden tools. BAK Battery said that it has signed a long-term cooperation agreement with TTI and will carry out comprehensive cooperation in the field of power tools. After entering the power tool market with high-rate batteries in 2020, BAK batteries have begun to supply TTI's multiple product lines in batches in May. It is understood that BAK’s current products supplied to TTI are cylindrical high-rate discharge batteries, which can adapt to 9C15C high-rate charge and discharge, have excellent cycle performance, and have good high and low temperature adaptability and comprehensive safety performance guarantees. BAK's high-rate series batteries are the leader in power tools. TTI owns more than ten well-known brands such as MILWAUKEE, AEG and RYOBI, and has a market share of over 50% in the consumer/DIY power tool field. This time BAK Battery won the TTI supply 'passData predicts that the penetration rate of cordless power tools has exceeded 50%. Based on this, relying on the accumulation of technology and relevant experience, BAK Battery stated that it will continue to improve product competitiveness and expand more cylindrical battery cordless terminal application scenarios. In 2020, TTI's power tool business sales totaled US$8.7 billion, a year-on-year increase of 28.5%. With the expansion of the global power tool market and the penetration of cordless power tools, TTI's demand for high-performance lithium-ion batteries will continue to increase. In order to guarantee the annual delivery plan for TTI, BAK Battery stated that it has opened two production lines for TTI and plans to add more lines as the cooperation between the two parties deepens. Gaogong Li Battery noted that, based on the accelerated progress of domestic cell factories in the field of high-rate cylindrical cells, and with the comprehensive advantages of performance, scale, and cost, the power tool giant's choice of cell supply chain has clearly turned to my country. In addition to BAK batteries, current domestic lithium battery companies including Tianpeng Energy, Haisida, Yiwei Lithium Energy, and Penghui Energy have all entered the supply chain of international power tool giants. GGII data shows that in 2020, domestic lithium-ion battery shipments for power tools will be 5.6GWh, a year-on-year increase of 124%. The shipments are mainly concentrated in several cylindrical lithium-ion battery companies such as Yiwei Lithium Energy, Tianpeng Power, and Haistar. Since 2021, in order to cope with the continued short supply situation, companies including Yiwei Lithium Energy and Tianpeng Power have announced expansions. GGII predicts that by 2025, my country's power tool shipments will reach 15GWh, with a compound annual growth rate of more than 22%. The industry consensus is that the sharp rise in domestic power tool batteries is not a short-term behavior under the epidemic, but will be the normal state and general trend that follows.