# Hangcha Group and Inbol establish motor joint venture

Hangcha Group Co., Ltd. and Zhuhai Inbol Electric Co., Ltd. jointly established Zhejiang Huahang Electric Drive Co., Ltd. in Hangzhou Fork Group's Hengfan Science Park. Hangcha contributed 27.5 million RMB (55% stake), Inbol contributed 17.5 million RMB (35% stake), and the management team contributed 5 million RMB (10% stake).

- Type: Acquisition
- Announced: 2024-07-15
- Where: Hengfan Science Park, Hangzhou, China
- Value: $6.90M (50.0M CNY)
- Status: completed
- Products: electric drive systems for new energy forklifts
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md), [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Hangcha Group](https://endata.com/companies/18470.md)
- [Zhuhai Enpower Electric](https://endata.com/companies/72628.md) (partner)
- [Zhuhai Inbol Electric Co., Ltd.](https://endata.com/companies/78599.md) (partner)

## Sources

- [news.global-ce.com](https://news.global-ce.com/n/202407/15/134736.html), 2024-07-15: "Hangzhou Fork Group and Inbol respectively contributed 2,7.5 million yuan, 1,7.5 million yuan and 5 million yuan of joint investment by the management team 5, Zhejiang Huahang Electric Drive Co., Ltd. was established."
- [cehome.com](https://www.cehome.com/news/20240717/313763.shtml), 2024-07-17: "此次携手成立合资公司，旨在整合双方的优势资源，实现技术互补，共同研发具有更高效率、更强动力、更低能耗的新能源叉车电气驱动产品。"

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