JLG Industries and parent company Oshkosh have announced a planned investement in Microvast, a global provider of next-generation battery technologies for commercial and specialty electric vehicles.
This new partnership, in combination with the company's existing electrification supply chain partners, will continue to strengthen and advance the development of electrified solutions across the JLG product line, including boom lifts, scissor lifts, low-level access lifts, vertical access lifts, stock and order picker lifts, towable lifts and telehandlers. Recent electric product introductions also include the industry's first all-electric scissor lift — the AE 1932 DaVinci model.
"Our strategic investment in Microvast is an excellent addition to Oshkosh's electrification focus and established partnerships," said John C. Pfeifer, Oshkosh Corporation President and Chief Operating Officer. "These partnerships, combined with Oshkosh's highly-capable product development team, support our expanding leadership with technology-enabled products across the markets we serve."
Oshkosh agreed to make a $25 million private investment in public equity in Microvast, who announced a merger with Tuscan Holdings Corp. on February 1, 2021. Oshkosh and Microvast also entered into a joint development agreement highlighting future battery collaboration and integration.
