Battery price is only a small part of the TCO
“When people talk about battery affordability, they often start and end with the purchase price,” says Clint Bemont, CEO and founder of maxwell+spark. “However, in reality, battery price is only a small part of the story.”
The obvious first step, when evaluating total cost of ownership (TCO), is to establish what type of batteries you are talking about. As Bemont points out, the cost profiles of lead-acid and lithium-ion (Li-ion) batteries are fundamentally different.
Beyond purchase price, those considering the lead-acid option should also consider factors like charging infrastructure, possible electrical upgrades, battery rooms, ventilation, extraction systems, acid handling, plug wear, and end-of-life handling into their calculations.
In addition, they need to be aware of the labour involved in battery changeovers, watering, routine maintenance, battery storage, and so on.
In the case of Li-ion batteries, while upfront costs are higher, tasks like watering, battery changing and acid handling are simply not required. Nor are battery rooms or routine maintenance regimes.
Motive.li from maxwell+spark is a lithium-ion battery solution for forklifts and other materials handling equipment
“In practice, once you have bought the battery, your ongoing costs are close to zero,” says Bemont.
In this context, maxwell+spark approaches affordability through the intersection of cost and reliability.
“We do not chase the cheapest component,” says Bemont. “We design for reliability first, because reliability is what delivers return on investment.”
In addition, the company’s batteries are designed as part of a system, not as isolated components.
“We engineer the battery and charger together and align charge strategies to real operational behaviour,” says Bemont. “We focus heavily on thermal management, vibration protection and internal architecture, because these are the things that determine long-term life.”
Full lifecycle management
Asked for his take on battery affordability, Aron Ye, product manager at Roypow sings the praises of one particular type of battery.
Roypow offers chargers specifically designed for lithium batteries
“Lithium iron phosphate (LiFePO4) batteries consistently achieve a lower TCO than lead-acid by transforming batteries from a frequent expense into a long-term asset,” says Ye.
LiFePO4 forklift batteries operate in a shallow charge/discharge state of charge (SOC) range of 25 - 80%, delivering the optimal cost efficiency and a longer service life.
In a typical scenario with one charge-discharge cycle per day and 300 days of operation per year, the 25 - 80% shallow charge/discharge strategy extends battery service life from five to 10 years, doubles the total energy output over its full lifecycle, and reduces the unit energy cost by 50%.
Considering this, according to Ye, cost minimisation should involve a two-pronged approach that includes selecting the right LiFePO4 battery technology and pairing it with intelligent, full lifecycle management.
“At Roypow, we maximise life and minimise cost through an integrated hardware and cloud ecosystem,” says Ye.
“Our smart battery management system (BMS) and chargers optimise every charge-discharge cycle at the device level, while our 4G cloud platform provides predictive insights and remote updates. This closed-loop system shifts maintenance from being reactive to predictive, preventing costly downtime before it happens.”
Cost variations
At this point, considering all these variables, the obvious question is: does TCO vary much?
The UgoWork forklift battery ecosystem
“In our experience, TCO can vary by a factor of two or more between similar operations,” says JF Marchand, marketing director at UgoWork. “We see this firsthand because we help fleets reduce battery waste through data-driven battery management and operational best practices.”
According to Marchand, apart from battery chemistry, costs also vary according to the application and factors like duty cycle (single shift versus multi-shift, opportunity charging versus deep cycling, etc.), whether best practice is employed, operator training, battery management visibility, and ambient temperature.
In addition, two warehouses running the same forklifts can incur significantly different costs simply because one operation overcharges batteries, charges during peak hours, allows batteries to sit partially charged, or replaces batteries reactively instead of strategically.
“Cost reduction is not about squeezing suppliers. It's about controlling how batteries are used, charged, and managed,” says Marchand.
The key levers for those looking to minimise TCO are battery selection, charging strategy, maintenance discipline, usage patterns, staff training, the use of data, and the ability to accurately predict battery life.
As Marchand puts it: “Most battery cost problems are not technology problem…they’re process and behaviour problems”.
For UgoWork, in other words, battery affordability is not about cheaper batteries, but about reducing waste around batteries. It is about treating forklift batteries not as standalone components, but as part of a system.
Battery life and replacement
According to Dean Portney, vice president of sales and marketing at HAWKER, understanding battery life and knowing when and how to replace batteries are both invaluable in this context.
HAWKER's product range includes forklift batteries, chargers, and battery monitoring devices
“Learning the signs of when to replace a battery can keep an operation from spending additional funds on extra labour, replacement parts, potential damage to their truck fleet, and potential downtime,” says Portney.
HAWKER offers a range of products, including forklift batteries, chargers, and battery monitoring devices. All designed to function in unison, these can also be relied upon to promote longevity and minimise TCO.
These include the HAWKER Battery Boss Wireless Control – a wireless device that provides real-time diagnostics back to the charger to optimise charging, ensure battery health, and even instruct the charger on the appropriate chemistry and operational profile. It also includes the HAWKER Advanced Battery Interface (ABI) – a device that features a lift truck-mounted remote monitor and provides drivers with a live view of battery operating conditions.
In essence, the company’s approach is based on the idea that every solution should be data-based and tailored to each customer’s application.
“By conducting thorough power studies and analysing a customer’s current operation, we can properly forecast and suggest the best motive power tools to meet their demand at the most efficient cost,” says Portney.
Data-driven insights
According to Erika Roney, marketing coordinator at MYCA: Material Handling Solutions, it’s important to recognise the key role that data and analytics can play in understanding TCO.
MYCA's FleetClarity data analytics platform benchmarks performance across forklift fleets
“Without monitoring battery health, usage patterns, and performance trends, fleets may miss opportunities to extend battery life, reduce costs, and avoid unnecessary replacements,” says Roney.
“At MYCA, we help businesses collect and analyse this data, providing the insights needed to make informed, proactive decisions that optimise fleet performance and control long-term expenses.”
The company’s approach combines data-driven insights, site-specific assessments, and AI-powered analytics to optimise battery usage, charging practices, and replacement timing.
MYCA’s data analytics platforms, such as FleetClarity and EquipInsight, are designed to validate battery-related costs, identify inefficiencies, uncover equipment abuse, and benchmark performance across fleets.
“By proactively monitoring battery health and usage patterns, businesses can make informed, timely replacement decisions that improve reliability, extend equipment life, and reduce overall operating costs,” says Dan Roberts, chief operating officer at MYCA.
In saying this, Roberts notes that battery management should be viewed as only one piece of a larger fleet management strategy.
“At MYCA, we evaluate the full lifecycle of material handling equipment – from battery selection, charging practices, and maintenance, to usage patterns, abuse trends, and overall equipment utilisation,” he says.
Battery control and refurbishment
Darin Kiefer, senior product manager at Green Cubes Technology says that, beyond TCO benefits, Li-ion batteries are more environmentally friendly.
SAFEFlex material handling batteries from Green Cubes Technology
“Their cycle life is much longer than lead-acid and typically one battery will serve the entire life of a truck,” says Kiefer.
Green Cubes’ batteries come with a Battery Control Module (BCM) that centralises serviceable parts, simplifies maintenance process, and further extends the lifetime of batteries.
“We offer a flexible and comprehensive product line that exactly matches our customers’ needs in terms of performance and functionality,” says Kiefer. “With a consultative sales process, we ensure that our batteries are optimised for each usage case.”
According to Kiefer, whether a customer requires the enhanced features of Green Cubes’ UL certified Lithium SAFEFlex PLUS products or the optimisation of the company’s Lithium SAFEFlex MHE batteries, every solution is tailored for operational efficiency.
In addition, the company offers a Re-Life program that refurbishes batteries in the field and is intended to extend battery life span beyond the initial warranty.
“We upgrade and refresh aging Lithium SAFEFlex batteries, keeping them performing efficiently beyond the standard warranty period by maximising their available capacity,” says Kiefer.
Power studies
Chad Christ, director marketing – industrial division at East Penn Manufacturing Co., recommends conducting a power study as the best way for businesses to ensure they are using right batteries.
Deka batteries are manufactured using a high percentage of recycled materials
“East Penn provides this as a complimentary service and a way to get a data-based evaluation of what your fleet’s true power needs are,” says Christ.
Noting that “data may be king”, Christ adds that businesses also need someone with the time and expertise to understand and manage it.
“The key is collaborating with a partner that can guide you through your application power needs, the usage of your fleet, and help pick the best battery for your application,” he says.
As a manufacturer that has been making batteries for over 80 years, East Penn is well placed to offer advice on these matters.
“We are not the cheapest by design. But what we can promise you is a high-quality, high-performance product with the lowest overall TCO, providing the performance and exceptionally long life you need,” says Christ.
“In addition, Deka batteries are produced in a very sustainable manner using a high percentage of recycled materials and manufactured on the largest most vertically integrated lead battery manufacturing campus on the planet.”
Regeneration of deep cycle batteries in use
While battery lifespan is clearly important when discussing TCO, it is not the whole story.
“Knowing exactly when to choose a righth regeneration over replacement is the most essential factor in managing TCO,” says Young-Joon YU, founder and CEO-president at Repowertek Inc. in South Korea. “Our PRIME regenerators dramatically reduce battery costs through a regeneration-focused maintenance approach."
“The primary culprit driving the aging of lead-acid batteries is ‘sulphate crystals’ that harden on the plates and obstruct the flow of charge. PRIME's unique High-Frequency Pulse technology precisely targets and dissolves these crystals, returning them to the electrolyte.
The most effective way to maximise forklift battery lifespan and reduce total cost of ownership is to regularly regenerate the battery with a regenerator before its total usage cycle reaches 80% State of Health (SoH).
YU adds he PRIME RPT-S600 Regenerator from Repowertek is suitable for all types of lead-acid batteries up to 96V.
Designed to restore lead-acid batteries without generating internal heat or damage, the PRIME RPT-S600 Regenerator can extend battery life by 300% compared to standard use cycles. According to the company, it is a safer, more cost-effective alternative to lithium-based energy storage.
The RPT-S600 Regenerator from Repowertek is suitable for all types of lead-acid batteries
YU says the tendency to focus on battery replacement leads to high-cost volatility and unpredictability.
“Conversely, utilising the PRIME Regenerator stabilises battery performance, reducing cost volatility and establishing a predictable cost structure over the long term,” YU continues.
“In this way, it provides a differentiated effect. Rather than merely reducing costs, it stabilises cost structure and ensures predictability.”
YU says that, for lead-acid forklift fleets, maximising asset value through a PRIME Regeneration Service Contract is a fiscally sound strategy, which allows operators to bypass the high entry barriers and catastrophic replacement risks associated with Li-ion.
Effective chargers
As batteries become more expensive and more critical operational assets, the charger plays an increasingly important role in protecting battery health and preserving usable life.
According to James Boyd, product manager for industrial battery chargers at Delta Electronics, chargers with Ethernet connectivity allow charging power to be managed centrally, so that available site power is used efficiently without exceeding grid limits.
Available from Delta Electronics, the MOOVbase series modular charging systems are designed for forklifts and other materials handling equipment
“The same connectivity allows chargers to respond to dynamic electricity pricing, reducing power draw when tariffs spike and helping to control operating costs,” says Boyd.
Charger design also matters at a very practical level.
“Our chargers use a modular power architecture, built from multiple parallel power modules,” says Boyd.
This approach delivers several advantages, including improved reliability, parallel operation and the ability to be easily swapped.
“Modular operation also allows the charger to match output more closely to the battery’s needs, improving efficiency across a wide operating range,” adds Boyd.
In addition, Delta Electronics’ chargers support advanced, multi-stage lithium charging profiles, which can be tailored to battery chemistry, temperature, state of charge, state of health, and battery age.
“This allows the battery management system to calibrate correctly at full charge and reduces unnecessary electrical and thermal stress on the cells,” says Boyd.
Overall, Boyd points to a growing shift away from focusing purely on upfront purchase price and toward TCO.
Reflecting the views of those quoted above, he concludes: “Battery affordability is not a component-level decision; it is a system problem, and the largest gains come when that system is designed to work as a whole”.
Find out more about the forklift battery options offered by our contributors by visiting our Virtual Expo.
For this report we interviewed the following industry specialists:
JF Marchand
Marketing Director
UgoWork