The two industrial truck manufacturers Hangcha from China and Manitou from France are planning to establish a joint venture for lithium-ion batteries. The new company is to be based in France and specialise in batteries for industrial vehicles.
According to the partners, the as yet unnamed joint venture will focus on both the production and sale of lithium-ion batteries and will be based in Le Mans. However, the formation still has to be approved by the European competition authorities. Both partners know each other well and are already working together. The new joint company, which is to move into an existing site, is now intended to take the collaboration between Hangcha and Manitou to a new level. The aim is to ‘pioneer the market for premium industrial vehicles’, as the two forklift truck manufacturers publicise.
The new company will operate largely independently of its parent companies and support customers worldwide in switching from lead-acid batteries to lithium-ion batteries. “Its lithium batteries deliver 50%+ higher energy density, 1-2 hour fast charging, 3-5x longer lifespan, and lighter weight while being maintenance-free with opportunity charging capability,” the initiators wrote. In addition to the third-party customer business, there are also plans to equip the company’s own industrial vehicles with the batteries from Le Mans. For example, the Manitou ME LIFT, which will be launched at the end of 2024. In this context, the French company mentions that the joint venture should help them to cover 28 per cent of their sales with electric vehicles by 2030. For Hangcha, meanwhile, the project is primarily a further expansion step.
Mr Zhao Limin, Chairman and General Manager of Hangcha Group, commented: “Deepening strategic cooperation with Manitou Group 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’s 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 system.”
Michel Denis, President and CEO of Manitou Group, added: “This creation, undertaken with one of our long-standing partners, will allow us to accelerate the deployment of our electric industrial vehicles 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.”
Founded in 1956, the Hangcha Group is one of the largest industrial vehicle manufacturers in China. Its product portfolio with alternative drives includes forklift trucks with lithium batteries, hydrogen drives and hybrid drives. In 2024, Hangcha reported record sales of 280,000 forklift trucks and a turnover of 2.29 billion US dollars.
hcforklift.com, manitou-group.com
