As we all know, quality issues, safety issues and reliability issues in battery products are all problems that people are facing while enjoying the convenience brought by lithium batteries. Based on such pain points, the founding team members of Lead-Win came together. The core team has worked for CATL, Gotion, Dongfeng Motor Group., Chilwee, Tmall, JD and other famous manufacturing companies or Internet head companies, the team has the advantage of rich industrial resources and the spirit of innovation to keep pace with the times. In August 2018, Anhui Lead-Win New Energy Technology Co. was found.
Lead-Win has been on a five-year journey since its founding in 2018. At the beginning of our establishment, we built and put into operation the first fully automated power battery assembly line. In the following years, 2019 and 2020, we have entered into strategic partnerships with Dongfeng Motor (85 of World Top 500 2021 Ranking Global auto companies ranked 10th) and Tianneng Group (160 of China Top 500 2022 Ranking Global new energy companies ranked 29th). The year 2020 is an extremely important year for the field, after two years of rapid development, we have achieved excellent results and become the strategic partner of many top intelligent driverless companies in China, while accumulating a number of top quality suppliers in the industry such as Gotion, Lishen, Svolt, Udantech, Energyborn. We have established a complete supply chain for the whole lithium battery industry.
Lead-Win has established a business model that focuses on custom design, manufacturing, domestic and international trade and technical import/export services for new energy lithium batteries. In addition to the very mature business of providing OEM services for brand owners, we are also actively building our own brand "LYBATT" in the field of power batteries. By December 2022, LYBATT will have shipped more than 800MWh of batteries. We also have over 500 projects with full chain experience.
In the early days of the company, we were determined to build a brand image and a bigger market with a technology-based approach. With the vision of "becoming a trusted platform for the new energy industry", we have been pushing ourselves over the past five years to move closer to the top of the industry. In 2019, we completed the ISO9001 and IATF16949 quality management system certification. Relying on our professional production technology and quality management system, all of LYBATT battery products have reliable performance and stable quality. The battery products produced by LYBATT have zero safety incidents and an average hardware failure rate of less than 1‰.
In response to diverse market demands, we have set up four manufacturing centres and a research and development team of over 30 people. The average experience of our R&D team is 5-10 years. We invest more than 10% of our sales in R&D each year and were awarded the title of National High-Tech Enterprise in 2022. Meanwhile, we have established an overseas warehouse in Europe as our energy storage business segment continues to expand. In order to better serve the needs of our customers, Lead-Win has set up a professional after-sales service team that can not only provide professional after-sales technical guidance, but can also assess product failures during use and provide solutions to problems within 24 hours.
In the future, LYBATT will continue to invest in production hardware facilities and expand production capacity, while improving the management mechanism to enhance the quality level and delivery capacity on the existing basis to better meet customer needs. We will continue to expand our market with the mission of "making new energy industry a hard business". We expect to open two to three additional manufacturing centres by 2025 and increase our investment in research and development to respond to customer and market demand. On top of this, we will continue to improve the professionalism of our sales team and strive for the best customer service.