EU Approves France-based Manitou's Lithium Battery JV with China's Hangcha Group

06:49 AM EST, 12/15/2025 (MT Newswires) -- The European Commission cleared the creation of a joint venture between China-based Hangcha Group and France's Manitou Group (MTU.PA). The watchdog said Monday that the transaction would not raise competition concerns due to the parties' negligible activities and limited combined market position in the European Economic Area. The proposed joint venture will manufacture and distribute lithium-ion battery packs for industrial vehicles, such as forklifts.