French telehandler and aerial lift manufacturer Manitou and Chinese forklift and aerial lift producer Hangcha have signed an agreement to create a joint venture to manufacture and distribute lithium-ion batteries in France.
The new venture will get underway as soon as it has been reviewed and approved by the European competition authorities.
The joint venture will operate with complete independence from either company with the plan to address the growing lithium-ion battery market and help customers upgrade their lead acid battery powered vehicles with longer lasting lithium-ion batteries.
New product ranges are also planned, in particular, for the Manitou ME Lift forklifts launched at the end of last year. While supporting Manitou’s ‘Lift’ roadmap to expand its electric product range to the point where 28 percent of all units its sells are electric by 2030.
The two companies have been working with local authorities and the economic development agency of Region Pays de la Loire - Solutions & Co - and have selected an existing site in Le Mans as home to the new business. As soon as approvals are granted it will recruit employees in the region including engineers, operators, sales representatives and after sales service technicians. Le Mans Metropole has agreed to support the recruitment and local integration of the new employees.
The two companies have selected an existing facility in Le Mans as the base for the new Joint Venture
Manitou chief executive Michel Denis said: "This creation, undertaken with one of our long standing partners, will allow us to accelerate the deployment of our electric industrial vehicle ranges, in line with the ambitions announced during the presentation of our new 'Lift' roadmap. Hangcha's expertise in battery manufacturing significantly increases our battery production capabilities and fully integrates with our low-carbon trajectory."
Hangcha group chairman Zhao Limin added: "Deepening strategic cooperation with Manitou and jointly establishing a lithium battery joint venture marks a new phase in the partnership between the two sides, which is a milestone in Hangcha global industrial layout. Leveraging Hangcha's core technological and manufacturing strengths in lithium battery solutions, we will collaboratively enhance solution capability of new energy industrial vehicle power systems. This partnership perfectly aligns with our shared objectives to accelerate electrification transformation and drive sustainable development, while providing robust support to the broader industrial vehicle market."
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