Global forklift manufacturers Manitou Group and Hangcha Group have signed an agreement to form a joint venture focused on manufacturing and distributing lithium-ion batteries.
The partnership aims to help customers transition from lead-acid to lithium-ion batteries for improved performance and longevity, particularly for vehicles such as Manitou’s ME LIFT forklifts launched in late 2024, according to a July 17 earnings release. The initiative aligns with Manitou’s “IFT roadmap, with a goal of having 28% of units sold powered by electric solutions by 2030.
The joint venture will operate independently and leverage Hangcha’s technological expertise in battery manufacturing to accelerate the electrification of industrial vehicles, according to the release. Manitou expects the collaboration to support its low-carbon goals and enhance its electric product offerings.
The new venture, which will be based in Le Mans, France, is subject to approval by European competition authorities, according to the release. The site in Le Mans, selected with support from local authorities and the Region Pays de la Loire’s economic agency, will employ engineers, operators, sales staff and service technicians.
Check out our exclusive industry data here.
