LG Energy Solution Ltd., the world’s third-largest battery maker, and Doosan Bobcat Inc., a global construction machinery producer, said on Wednesday that they have joined hands to develop battery pack solutions for compact construction equipment.
LG Energy and Doosan Bobcat plan to cooperate on standardized battery pack solutions that can be applied to various construction equipment products, such as skid-steer loaders and excavators.
The two companies also aim to explore new opportunities to extend this cooperation to the electrification of other applications, including grounds maintenance equipment like tractors.
“We will standardize battery packs for compact construction equipment and provide solutions to major markets such as
North America,” said Doosan Bobcat Chief Strategy Officer and Executive Park Hyunchul in a statement.
DIVERSIFICATION AMID PROLONGED EV INDUSTRY WEAKNESSThe two partners plan to LG Energy’s cylindrical batteries to Doosan Bobcat’s flagship construction equipment models.
LG Energy, South Korea’s top battery maker, has been actively diversifying
product portfolios as
the global electric vehicle industry remained sluggish.
The company aims to establish a sustainable battery ecosystem in emerging sectors, particularly new mobility industries such as urban air mobility (UAM) and vessels.
“We remain deeply committed to leading the challenge of electrifying various industries,” said LG Energy Senior Vice President and Head of Mobility & IT Battery Division Oh Yooseong.
DOOSAN HAS ITS OWN BATTERY PACKSDoosan Bobcat has been developing its own battery packs, which are directly connected to the performance of electrified equipment.
The company owned by South Korea’s plant and machinery powerhouse Doosan Group teamed up with China's CosMX, a global lithium-ion battery company, in 2023 to develop battery packs with enhanced stability and performance. Dosan Bobcat has been selling electric forklifts with the battery packs since the second half of last year.
Doosan Bobcat, which established a dedicated team for the battery pack business in January, is building a research center in South Korea with a target of completion in the second half of 2025.
The center aims to design battery packs for various products and secure original technology for manufacturing.
Write to Jin-Won Kim at
jin1@hankyung.com Jongwoo Cheon edited this article.
