Hangcha & Manitou Form Lithium Battery JV In France
July 17, 2025 — Hangcha Group, a world-renowned industrial vehicle manufacturer, and Manitou Group, a worldwide reference in the material handling, aerial work platforms, and earth moving sectors, announce the signature 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.
Lithium Battery Joint Venture
This joint venture marks a new chapter in the strategic collaboration between Hangcha and Manitou, uniting their strengths to pioneer the premium industrial vehicle market. Headquartered in France with a global vision, the 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. Integrated smart management systems boost equipment utilization and lower operating costs. The eco-friendly solution produces zero emissions, contains no toxic materials, and ensures safer operations. The venture is a pivotal 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.
Zhao Limin, Chairman and General Manager of Hangcha Group, states: “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. 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.”
Hangcha Group
Michel Denis, President & CEO of Manitou Group, states: “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. Hangcha’s expertise in battery manufacturing significantly increases our battery production capabilities and fully integrates with our low-carbon trajectory.”
Manitou Group
The joint venture for lithium batteries embodies both companies’ shared vision for the future of new energy industrial vehicles. Through complementary strengths and relentless innovation, Hangcha and Manitou are confident that the new company will successfully empower customer transformation and drive meaningful progress toward a cleaner, more efficient material handling industry.
About Hangcha Group:
Founded in 1956, Hangcha Group stands as an industrial vehicle manufacturer with a nearly 70-year legacy and five decades of accumulated R&D expertise. Dedicated to delivering comprehensive material handling solutions worldwide, the company is recognized as one of China’s largest industrial vehicle enterprises, boasting the most complete industrial chain, strongest comprehensive capabilities, and top economic performance. Leveraging its independently developed key technologies for new energy forklifts—including lithium batteries, hydrogen energy, and hybrid power—Hangcha has proactively driven the strategic transition to new energy products.
For consecutive years, its revenue has ranked 8th globally among forklift manufacturers[Source: Modern Materials Handling, MMH, USA]. In 2024, Hangcha achieved record-breaking sales of 280,000 forklifts and revenue of $2.29 billion. Hangcha operates in over 180 countries and regions, with nearly 20 overseas subsidiaries ensuring comprehensive global service.
About Manitou Group:
As a world reference in the handling, aerial work platform, and earth moving sectors, Manitou Group’s mission is to improve working conditions, safety, and performance around the world, while protecting people and their environment. Through its flagship brands – Manitou and Gehl – the group designs, produces, distributes and services equipment for construction, agriculture and industry. By placing innovation at the heart of its development, Manitou Group constantly seeks to bring value to all its stakeholders. Through the expertise of its network of 800 dealers, the group works more closely with its customers every day. Staying true to its roots, with its headquarters located in France, Manitou Group turned over €2.7 billion in 2024. It unites 6,000 talents worldwide with passion as their common driver.