Hangcha, Manitou form lithium battery JV in France

Hangcha Group, a China-based industrial vehicle manufacturer, and Manitou Group, a French company specializing in the design, manufacturing and distribution of material handling, lifting and earthmoving equipment, have announced the signing of an agreement to create a joint venture in Le Mans, France. The new company will focus on manufacturing and distributing lithium-ion batteries for industrial vehicles, according to a media release.

This joint venture marks a new chapter in the strategic collaboration between Hangcha and Manitou. 

Headquartered in France, the new company is committed to helping customers worldwide transition from lead-acid battery vehicles to high-performance lithium solutions. 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 media release said.

The venture is an important step in Hangcha’s new energy strategy to accelerate its global expansion while directly supporting Manitou’s “LIFT” strategic roadmap for expanding its electric product portfolio.

“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,” Zhao Limin, Chairman and General Manager of Hangcha Group, said. “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.”

“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,” Michel Denis, President & CEO of Manitou Group, said. “Hangcha’s expertise in battery manufacturing significantly increases our battery production capabilities and fully integrates with our low-carbon trajectory.”