CHINA REPORT
On Jan. 20, 2024, Lingong Heavy Machinery Co., Ltd. and CATAL New Energy Technology Co., Ltd. signed a strategic cooperation agreement to jointly develop electric construction machinery.
Lingong Heavy Machinery is a leader in the global wide body mining truck and high-altitude operation platform industry and is also an active advocate and strong promoter of green, intelligent, international, and low-carbon environmental protection development in the engineering machinery industry.
CATAL is a leading global new energy innovation technology company, committed to providing first-class solutions and services for global new energy applications, and has a wide range of vehicle factory partners around the world.
As leading companies in their respective industries, Lingong and CATAL now have the opportunity to leverage their respective strengths, support each other, share resources, and collaborate in the development of energy electrification in the construction machinery segment.
They also will be able to promote the development of battery technology in construction machinery, and ultimately promote the comprehensive electrification, intelligence, and integration of the construction machinery industry.
The main features of this strategic agreement include comprehensive cooperation in the research and development of new energy mining vehicle electrification products, technological innovation, formulation of new energy engineering machinery industry standards, market promotion, and one-stop after-sales service.
At the same time, both parties will jointly focus on the development and market promotion of overseas and large tonnage new energy mining products, providing technological leadership for global engineering machinery industry customers.
Success in the very competitive electrified products field requires that both parties lay a solid foundation for the common development of the new energy industry, and jointly promote and lead the high-quality development of the industry.
Source: Construction Today Read The Article
PSR Analysis: This cooperation accelerates the electrification process of the construction machinery industry, focusing on comprehensive cooperation in the supply of power batteries, hybrid mining trucks, research and development of new energy technologies and products, domestic and foreign market promotion, formulation of new energy construction machinery industry standards, and battery recycling.
It also focuses on the research and promotion of large tonnage new energy mining products. In the increasingly fierce competition for power batteries, CATL’s business is gradually diversifying, from passenger cars to commercial vehicles, and gradually extending to off- road fields such as construction machinery. PSR
Jack Hao is Senior Research Manager-China for Power Systems Research
