Manitou and Hangcha form a lithium battery joint venture in France to support electrification of industrial vehicles and sustainable growth.
Manitou Group, a globally recognized leader in material handling, aerial work platforms, and earthmoving equipment, has announced a strategic partnership with Hangcha Group, an internationally known manufacturer of industrial vehicles. The two companies have signed an agreement to establish a joint venture focused on the production and distribution of lithium-ion batteries. The facility will be located in Le Mans, France, and its official launch is subject to the approval of European competition authorities.
This joint venture aims to operate independently, leveraging the combined strengths of both Manitou and Hangcha to enter the rapidly evolving lithium-ion battery market. Its primary mission is to offer customers more advanced energy solutions, particularly by helping transition from conventional lead-acid batteries to more efficient and longer-lasting lithium-ion alternatives. These batteries are intended to extend the life and improve the performance of existing battery-powered industrial vehicles.
The joint venture will also support the electrification of new product lines, including the recently launched Manitou ME LIFT forklift range, introduced in late 2024. This initiative aligns with Manitou Group’s broader "LIFT" strategic roadmap, which targets expanding the company’s electric-powered vehicle portfolio. By 2030, Manitou aims for electric models to represent 28% of its total units sold.
Michel Denis, President and CEO of Manitou Group, emphasized the significance of the new venture, stating, “This initiative, carried out with one of our long-time partners, will fast-track the expansion of our electric industrial vehicle offerings. It aligns directly with the goals set in our LIFT roadmap. Hangcha’s proven expertise in lithium battery manufacturing enhances our production capacities and reinforces our commitment to a low-carbon future.”
Zhao Limin, Chairman and General Manager of Hangcha Group, also commented on the agreement: “This joint effort with Manitou Group marks a new chapter in our strategic collaboration. It’s a key step in the global expansion of Hangcha’s industrial footprint. By leveraging Hangcha’s technological strengths and production capabilities in lithium battery systems, we aim to jointly develop innovative energy solutions for the industrial vehicle sector. This partnership supports our shared ambition to accelerate electrification and contribute to sustainable development while reinforcing the energy transformation of the global industrial vehicle market.”
The decision to locate the joint venture in Le Mans, within an existing facility, was made in coordination with local stakeholders and the regional economic development agency, Solutions & Co. The project will create numerous employment opportunities in the area, including roles for engineers, production operators, sales professionals, and after-sales service technicians. Le Mans Métropole will provide assistance with recruitment and help integrate the new employees into the community.
