Counterbalanced truck
Kion builds new plant in China
Kion is continuing to expand its business in China and has started construction of an additional plant for counterbalanced trucks in Jinan (Shandong province). The expected investment volume for the project is around 100 million euros.
Kion plans to create more than 800 new jobs at the new East China site by 2025. "China has recovered quickly during the coronavirus crisis, remains one of the fastest growing markets in the world and plays a key role in our strategy," said Gordon Riske, CEO of Kion, who took part in the ceremony to mark the start of construction in Jinan via video conference. According to the "World Industrial Truck Statistic" (WITS), the Chinese economy already accounts for around 30 percent of the global market for industrial trucks, he emphasized. And according to the Group's estimates, the trend is rising.
With the new plant, the Group also wants to expand its product portfolio in order to take advantage of growth opportunities in the value segment and benefit more from the ongoing electrification of industrial trucks in China. Kion has founded a new company for this purpose. It holds a 95 percent stake in the company, while Weichai Power, the Kion Group's anchor investor, holds a 5 percent stake. With the participation of Weichai Power, which also has its headquarters in Shandong Province and manufactures drive machines, commercial vehicles and automotive electronics, the Group wants to ensure a strong local presence in the region.
The new plant is scheduled to start operations in 2022. On an area of almost 223,000 square meters - the equivalent of more than 31 soccer pitches - the Group is building a research and development center, a training center and an administrative area in addition to a modern production plant where industrial trucks from the Linde Material Handling and Baoli brands will be manufactured. as
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