10 years ago, lithium batteries were about 10x as expensive as they are now, and there’s a lot of bureaucratic inertia that slows down adoption. First your engineers have to either predict low Li-Ion prices and convince their company to fund a new product development, or you only start developing it after the prices drop.
A UPS is also going to go through a lot of compliance testing, for EMI, electrical safety, and fire safety. You’re also going to need to find new factories to manufacture your batteries, or re-tool your existing ones.
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