Jungheinrich & Triathlon form JV for battery production
German forklift manufacturer and intralogistics specialist Jungheinrich and battery manufacturer Triathlon Holding have founded a joint venture. JT Energy Systems is to produce and recycle lithium-ion battery systems for both companies.
JT Energy Systems will focus on the production and recycling of lithium-ion battery systems and will be based in the state of Saxony, Germany. Jungheinrich will hold a 70 per cent share in the joint venture and Triathlon taking the remaining 30 per cent.
With their joint venture focusing both on production and recycling of batteries, the companies aim to overall expand their production capacities to cover the increasing demand for lithium-ion battery systems in their sector and to develop their technology further. JT ENERGY will supply products to both companies.
Hans-Georg Frey, Chairman of the Board of Management of Jungheinrich AG, said that “the intralogistics sector is making a decisive move toward lithium-ion technology”. It is a trend the company has experienced first hand. In 2017, Jungheinrich reportedly claimed to have won the biggest Li-ion contract in their history as they were asked to deliver over 1,000 industrial trucks equipped with lithium-ion batteries to a range of undisclosed customers in Europe. Today Jungheinrich acts as a “one-stop shop offering everything from our own energy storage devices and power units to battery chargers”, Frey added. Moreover, the Chairman sees “further untapped potential in the market for electric trucks”, which he hopes to unearth together with Triathlon.
In turn, Martin Hartmann, Managing Director of Triathlon is expecting his company to “achieve greater economies of scale and scope” while giving their customers access to a broader range of lithium-ion battery solutions based on the latest technologies.
The battery production and recycling joint venture is subject to the approval of the relevant competition authorities. If all comes to pass, JT Energy Systems should begin operations in August 2019.
Additional reporting by Nora Manthey.
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