© BMZ Electronics Production | July 11, 2019
BMZ and KION Group to launch JV for lithium-ion batteries
The European manufacturer of lithium ion battery systems will join forces with KION Group AG, a global provider of intralogistics solutions to form a joint venture under the name of KION Battery Systems GmbH.
This joint venture will manufacture lithium-ion batteries for industrial trucks in the EMEA region. The two companies now signed an agreement to this effect. The companies will each hold a 50% stake in the joint venture. The objective of the JV is to broaden the lithium-ion product offering and to increase production capacity to best serve the rapidly growing demand for lithium-ion battery systems in the intralogistics market. The production facility for the joint venture is built by BMZ Holding GmbH in Karlstein am Main, the headquarters of the BMZ Group. By 2023, the workforce of the JV is expected to grow to around 80 employees working in mainly research, development and production functions. Initially, the new JV will focus on the production of 48-volt and 80-volt batteries for counterbalance trucks. Soon, the offering will be expanded to 24-volt batteries for smaller warehouse trucks. The transaction still needs to be approved by the competent antitrust regulator.