Hangcha held a groundbreaking ceremony at the site on May 20Chinese forklift maker Hangcha has broken ground on a new factory that will produce 10,000 units of automation equipment a year.
The Hangcha Technology Park Phase IV Intelligent Production Base is expected to be operational by the end of 2025.
This new project by Zhejiang Hangcha Intelligent Technology Company involves a CNY1.02 billion (USD140 million) investment to construct a 133,000 sqm plant.
Hangcha says the facility will produce 10,000 automated guided vehicles (AGVs), 1,000 stacker cranes and 100,000 m of conveyer lines a year.
The facility is projected to generate an annual revenue of CNY1.03 billion (USD142 million).
In other Hangcha news, the company says it has secured an order for 78 XH Series 3 T high-voltage lithium forklifts from Ningbo Zhoushan Port, one of the world’s busiest ports.
Deliveries of the new forklifts will begin in June.
Hangcha says the company delivered 135 units to the port last year.