Material handling and aerial platform producer Manitou Group and industrial vehicle OEM Hangcha Group have announced a joint venture in France to manufacture and distribute lithium-ion batteries.
The aim of the partnership is to help customers upgrade their lead-acid battery-powered vehicles with longer lasting lithium-ion batteries thus expanding their operational lifespan. It will also directly support Manitou Group’s Lift strategic roadmap to expand its electric offerings to reach 28% of units sold by 2030.
New product ranges will be part of the upgrade too, in particular, Manitou’s ME LIFT forklifts launched at the end of 2024.
The new joint venture will be set up at an existing site at Le Mans in Sarthe, France, through a collaboration with local authorities and Solutions & Co, the economic development agency of the Pays de la Loire region. It will become effective following approval by European competition bodies.
A range of engineers, operators, sales representatives and after-sales service technicians will be employed at the site, with local authority Le Mans Metropole supporting their recruitment and integration into the local area.
Michel Denis, President & CEO of Manitou Group, 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.”
Zhao Limin, Chairman and General Manager of Hangcha Group, added that the venture marked a new phase in the partnership between the two companies and would leverage Hangcha’s capabilities in lithium-ion to enhance new energy vehicle solutions.
“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.”
The acquisition is intended to accelerate the development of new products and services