# Hefei Haiyuan and KION Group form joint venture for industrial vehicle components

Hefei Haiyuan Machinery Co., Ltd. and Germany's KION Group signed an agreement to establish a joint venture, with Hefei Haiyuan as the majority owner, to supply axle assemblies, hydraulic cylinder assemblies and related parts for KION's industrial trucks and warehouse equipment. Phase 1 is under construction and expected to be completed by June 2022.

- Type: Partnership
- Announced: 2021-10-27
- Where: Feidong Economic Development Zone, Hefei, Anhui, China
- Jobs: 400
- Status: under construction
- Capacity: 100,000 units per year, 1 billion yuan annual output value
- Products: industrial vehicle axle assemblies, hydraulic cylinder assemblies
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [KION Group](https://endata.com/companies/16287.md) (partner)
- [Hefei Haiyuan Machinery](https://endata.com/companies/58771.md) (partner)

## Sources

- [ah.chinanews.com.cn](https://www.ah.chinanews.com.cn/news/2021/1028/291158.shtml), 2021-10-28: "通过此次合作，我们将充分利用凯傲集团的强大优势，推动‘海源品牌’加速走向国际市场，助力公司发展成为全国乃至世界的桥箱和油缸基地。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.