Hyundai Material Handling unveils new European growth plan

THE APPOINTMENT of DJ Lee, former head of global sales at headquarters, as head of the European division, underscores the strategic importance of the European market. The experienced manager has more than 25 years of international leadership experience within the Hyundai Group. Dongjoon “DJ” Lee has been in charge of the company’s European operations, as the head of division, since January 2026.

“With the establishment of HD Hyundai XiteSolution, the Industrial Vehicles division has been strategically repositioned to operate more independently and competitively on a global scale,” explains DJ Lee. “Our aim is to establish Hyundai Material Handling in Europe as a premium supplier with a high degree of vertical integration and particularly short delivery times.”

The European growth strategy centres on several key measures:

• Expansion of the dealer and sales network in Europe.
• Expansion of the portfolio of electric forklift trucks.
• Introduction of new high-voltage electric forklifts in the heavy-duty segment from 10 to 18 tonnes by Q3 2026.
• Increasing spare parts availability to 97%.
• Expansion of financing programmes for dealers and end customers.
• Strengthening of service and support structures in Europe.

HD Hyundai XiteSolution

With the establishment of HD Hyundai XiteSolution in 2023, the HD Hyundai Group has made the forklift and warehouse technology business one of its key strategic pillars. As an intermediate holding company, HD Hyundai XiteSolution integrates the companies HD Hyundai Construction Equipment and HD Hyundai Infracore (formerly Doosan Infracore) and promotes group-wide synergies in the areas of development, production and sales.

Hyundai is placing particular emphasis on the electrification of its product range. Following the successful launch of the high-voltage B-X series in the 4 to 9-tonne range, the company plans to unveil new electric heavy-duty forklifts with load capacities of 10 to 18-tonnes in September 2026.

In addition, from November 2026, Hyundai will introduce a new range of three-wheeled electric forklifts in the entry-level segment, from 1.5 to 2-tonnes. By 2028, the entire electric range in the 1.5 to 5-tonne category is set to be comprehensively modernised and expanded.

Expansion of the European dealer network

At the same time, Hyundai is investing in the expansion of its European sales organisation. In the first quarter of 2026 alone, nine new dealer agreements were signed in France, Italy and the Baltic region. A further 20 sales partners are set to join by the end of the year. The network expansion is focusing in particular on Germany, Spain and the UK.

“Competent and financially stable sales partners are a key factor for success,” emphasises Lee. “Furthermore, our customers benefit from extremely competitive delivery times. Once an order is received, we deliver vehicles to Europe within approximately 3.5 to 5 months. In addition, we keep a wide range of models in stock, directly at our European warehouse, ensuring that selected vehicles are available at short notice.”

High vertical integration as a competitive advantage

A key competitive advantage lies in the high level of vertical integration within the group. By incorporating the component expertise of HD Hyundai Infracore, Hyundai has in-house know-how in the areas of engines, transmissions and hydraulic systems.

Against the backdrop of global supply chain risks and volatile raw material markets, Hyundai is specifically strengthening the stability of its production. The main production site remains Ulsan in South Korea, with an annual capacity of around 25,000 industrial trucks.

Hyundai also focuses on customer-oriented solutions in the area of warranties. Models manufactured in Korea come with a standard warranty of three years or 4,000 operating hours on spare parts. The drive batteries are covered for five years or 10,000 operating hours. In addition, Hyundai guarantees 85% of the battery’s remaining capacity after five years.

Ambitious growth targets in Europe

With a broad product portfolio, high delivery reliability, a growing dealer network and a consistent electrification strategy, Hyundai Material Handling is pursuing ambitious goals: within the next five years, it aims to achieve a market share of 4-5% in the European counterbalanced forklift market.