Manitou Group and Hangcha Group, have announced an agreement to form a joint venture focused on manufacturing and distributing lithium-ion batteries. The new venture will be based in Le Mans, Sarthe, France, pending approval from European competition authorities.
The partnership aims to address the growing demand for lithium-ion battery solutions, particularly for upgrading lead-acid battery-powered vehicles and supporting new product lines. This initiative aligns with Manitou Group‘s “LIFT” strategic roadmap, targeting 28 per cent electric unit sales by 2030.
Michel Denis, President & CEO of Manitou Group, highlighted the significance of the collaboration: “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: “Deepening strategic cooperation with Manitou Group and jointly establishing a lithium battery joint 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.”
The joint venture will be housed within an existing site in Le Mans, chosen with support from local authorities and Solutions & Co, the economic development agency of Region Pays de la Loire. Recruitment efforts will focus on hiring engineers, operators, sales representatives, and after-sales service technicians, with Le Mans Metropole assisting with local integration.
This move marks a significant step forward in both companies’ efforts to drive sustainable development and expand their presence in the rapidly evolving electric industrial vehicle sector.