KION GROUP AG, Germany, joined forces with BMZ Holding GmbH, Germany, 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 production facility for the joint venture is built by BMZ Holding GmbH. By 2023, the workforce of the JV is expected to grow to around 80 employees working in mainly research, development and production functions.

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

"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," says Gordon Riske, chief executive officer of KION GROUP AG. "The cooperation with BMZ Group will enable us to effectively meet the steadily growing demand for advanced lithium-ion batteries and to ensure highest reliability of supply for our customers."

"KION has been a highly valued partner and customer of ours for a long time. Our two companies have been fostering a strategic and operational business relationship for many years. The technology of BMZ Group and its 25 years of industry experience form a great basis on which the joint venture can build its future success and deliver benefits for both founding companies," adds Sven Bauer, founder and CEO of BMZ Holding.

Direct access to proprietary test labs and development teams as well as strategic, cost-optimized product developments will be key to the success of the joint venture.

Carsten Harnisch, vice president of new energy systems for KION, and Christian Hasenstab from BMZ will be appointed as managing directors of KION Battery Systems GmbH.