Manitou and Hangcha set up lithium-ion battery JV
The two companies have entered into an agreement to set up a joint venture specialising in manufacturing lithium-ion batteries in France.
THE VENTURE is subject to approval by the European competition authorities.
The objective of the JV is to bring new solutions to customers that will help them upgrade their lead-acid battery-powered vehicles with lithium-ion batteries to expand their operational lifespan.
The deal also involves new product ranges, including the Manitou ME LIFT forklifts launched at the end of 2024.
This initiative will directly support Manitou Group’s LIFT strategic roadmap to expand its electric offerings and reach 28% of units sold by 2030.
Manitou Group president & CEO Michel Denis, says: “This venture, undertaken with one of our long-standing partners, will allow us to accelerate the deployment of our electric industrial vehicle ranges. Hangcha’s expertise in battery manufacturing significantly increases our battery production capabilities and fully integrates with our low-carbon trajectory.”
Zhao Limin, chairman and general manager of Hangcha Group, adds: “Deepening strategic cooperation with Manitou Group is a milestone in Hangcha’s global industrial layout.”
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