Doosan Bobcat is accelerating the internalization and vertical integration of core components by securing proprietary technologies for battery packs used in compact construction equipment and forklifts.
Doosan Bobcat and LG Energy Solution announced on March 19th that they have signed a Memorandum of Understanding (MOU) for the development of ‘battery pack solutions for compact construction equipment.’
Through this MOU, the two companies will collaborate for standardized lithium battery packs and solutions for compact construction equipment and supply them to key markets including North America. Specifically, LG Energy Solution will provide lithium-ion battery cells or modules, while Doosan Bobcat will add battery management systems and package them to standard battery packs optimized for compact construction equipment. The companies will also discuss expanding the battery packs and solutions from construction equipment such as loaders and excavators to agricultural and landscaping equipment like tractors.
Hyunchul (Charlie) Park, CSO and Executive Vice President of Doosan Bobcat, stated, “We are pleased to develop battery packs for compact construction equipment on the back of excellent quality and stability of LG Energy Solution’s cells,” explaining the significance of the MOU. He added “We will standardize battery packs for compact construction equipment and provide solutions to major markets such as North America.”
“We are excited to collaborate with Doosan Bobcat, a global leader in construction equipment, to develop electrification technologies and expand our business in this vitally important sector,” said Yooseong Oh, Senior Vice President and Head of LG Energy Solution’s Mobility & IT Battery Division. “We remain deeply committed to leading the challenge of electrifying various industries.”
Doosan Bobcat has been consistently working on the internalization of battery packs, which are directly connected to the performance of electrified equipment. Since 2023, the company has been collaborating with China’s global lithium-ion battery company ‘CosMX.’ They have developed battery packs with enhanced stability and performance, and have been incorporating these into electric forklifts for sale since last year.