Motive battery manufacturer Leoch records sharp sales jump

News Story
- 26 Sep 2024 ( #1198 ) - Singapore
1 min read
Motive power battery maker records sharp jump in sales
Motive power battery maker records sharp jump in sales

Singaporean battery and energy storage solutions provider Leoch Battery has recorded a 10.5% increase in its motive power business for the six months to 30 June 2024, according to the company’s Interim Report.

Leoch’s motive power battery business accounted for 9.1% of the group’s total sales for the six months to 30 June 2024 with sales amounting to USD97.4 million.

Leoch Battery’s total sales for the period were USD444.6 million, a y-o-y jump of 9.9%.

“In industrial settings, our motive power batteries (including both our lead-acid and lithium types), are widely used in forklifts, material handling equipment and other heavy machineries, due to their durability and cost-effectiveness,” Leoch says in its report. 

“The group’s growth in this segment has accelerated, particularly as industries continue to automate and expand their operations. The versatility of lead-acid and lithium batteries in powering a range of industrial equipment ensures a sustained demand from the market.”

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