A production facility for the joint venture will be built at BMZ's headquarters

KION Group will join forces with BMZ Holding GmbH to form a joint venture under the name of KION Battery Systems GmbH. This joint venture will manufacture lithium-ion batteries for industrial trucks in the EMEA region.

The two companies have signed an agreement, with each holding a 50% stake in the joint venture.

The production facility for the joint venture will be built by BMZ at its headquarters in Karlstein am Main, and by 2023, the workforce of the JV is expected to grow to around 80 employees, working in mainly research, development and production functions.

Both KION and BMZ have world-leading know-how in the field of lithium-ion technology.

Initially, the new JV will focus on the production of 48 v and 80 v batteries for counterbalance trucks. The offering will later be expanded to 24 v batteries for smaller warehouse trucks.

This joint venture represents a far-reaching strategic partnership between Europe's biggest manufacturer of industrial trucks and the leading European provider of lithium-ion battery solutions. "This alliance will boost our role in the lithium-ion battery segment and will put the KION Group - and, by extension, all of the KION brand companies - in an even stronger competitive position," explains KION CEO Gordon Riske.

Last year, rival Jungheinrich announced a similar joint venture with Triathlon Holding to form JT ENERGY Systems, which is based in Glauchau, Saxony and is also focused on the production and recycling of lithium-ion battery systems.