JLG and Oshkosh accomplice with Microvast to strengthen electrification capabilitiesadmin
JLG Industries and father or mother firm Oshkosh have introduced a deliberate investement in Microvast, a worldwide supplier of next-generation battery applied sciences for industrial and specialty electrical automobiles.
This new partnership, together with the corporate’s present electrification provide chain companions, will proceed to strengthen and advance the event of electrified options throughout the JLG product line, together with increase lifts, scissor lifts, low-level entry lifts, vertical entry lifts, inventory and order picker lifts, towable lifts and telehandlers. Latest electrical product introductions additionally embrace the trade’s first all-electric scissor elevate — the AE 1932 DaVinci mannequin.
“Our strategic funding in Microvast is a superb addition to Oshkosh’s electrification focus and established partnerships,” mentioned John C. Pfeifer, Oshkosh Company President and Chief Working Officer. “These partnerships, mixed with Oshkosh’s highly-capable product growth staff, assist our increasing management with technology-enabled merchandise throughout the markets we serve.”
Oshkosh agreed to make a $25 million non-public funding in public fairness in Microvast, who introduced a merger with Tuscan Holdings Corp. on February 1, 2021. Oshkosh and Microvast additionally entered right into a joint growth settlement highlighting future battery collaboration and integration.