Shanghai (ZXZC)- On February 27th, Lonking Holdings Limited, a leading Chinese construction and logistic machinery manufacturer, and the power battery giant CATL inked a strategic cooperation agreement in Ningde city, Fujian province.

The agreement designates CATL as the preferred partner for Lonking's construction machinery power batteries. This collaboration extends into areas such as the development and production of construction machinery, as well as the development of power batteries used in construction machinery. Both parties will engage in joint R&D of compatible products, and collaboratively promote them in the market. The shared goal is to pioneer the new energy construction machinery market, delivering technologically advanced electrified products to global clients in the construction machinery industry.

Following the signing ceremony, Lonking unveiled its latest electric loader, adorned with the emblem "宁德时代 inside" (meaning "powered by CATL"). This machine is equipped with a new-generation power battery developed by CATL specifically for the construction machinery sector. Lonking said the new product amalgamates its years of expertise in traditional loaders with advancements in electrification and intelligence. Further joint market promotion efforts for this product are anticipated by both collaborators.

As a leading construction machinery manufacturer in Fujian Province, Lonking went public on the Main Board of the Hong Kong Stock Exchange in 2005. Their product range spans various categories, including loaders, excavators, forklifts, skid steer loaders, and road rollers, along with a diverse array of core components.