Hangcha Group Plans a Manufacturing Base in Thailand

Hangcha Group is planning to establish a subsidiary in Thailand, provisionally named Hangcha Group Thailand Manufacturing Co., Ltd., with a registered capital of $20 million. This wholly-owned subsidiary will focus on manufacturing and selling forklifts and aerial work platforms, as well as assembling and distributing lithium batteries.

Additionally, it will invest in production workshops and office buildings, with an initial planned annual production capacity of 10,000 units, including counterbalance forklifts, scissor lifts, and boom lifts.

As a leading forklift manufacturer in China, Hangcha’s export revenue has steadily increased, consistently ranking among the top in the industry for over a decade in terms of both export volume and revenue. In 2023, the export revenue reached 6.54 billion yuan (about $928 million), a year-on-year growth of 29.72%. The share of export revenue rose from 34% the previous year to 40% in 2023.

Currently, Hangcha has 10 subsidiaries and a sales network spanning Europe, North America, South America, Australia, and Southeast Asia.

Thailand is a key economy, offering a favorable location and investment environment for manufacturing growth. Hangcha’s manufacturing base in Thailand will reduce costs, improve supply chain efficiency, and enable faster responses to Southeast Asian market demands.

For more information, please visit: https://www.hangchaeurope.com/news/list