Manitou And Hangcha To Launch Lithium-Ion Battery Joint Venture In France

Manitou Group and China-based Hangcha Group have signed an agreement to form a joint venture focused on manufacturing and distributing lithium-ion batteries. The new entity will be based in Le Mans, France, and is subject to approval by European competition authorities.

The partnership aims to offer battery solutions for retrofitting lead-acid powered vehicles and supporting new electric models, including Manitou’s ME LIFT forklifts set to launch by the end of 2024. The initiative supports Manitou’s goal of having 28% of its units sold be electric by 2030, in line with its "LIFT" strategic roadmap.

The joint venture will operate independently and benefit from Hangcha’s expertise in battery production.