KION Group announces joint venture with Weichai Power to build a new factory
Kion Group, a well-known German forklift manufacturer and supply chain solution provider, announced on the 3rd that it will establish a new company with Weichai Power in China and build a new plant in Jinan. The total investment in the new plant in Jinan is about 100 million euros. Construction will start at the end of the year, and production will begin in 2022. It mainly produces counterbalanced forklifts. In addition to production facilities, the company will also build a KION mid-range product technology center at the plant. By 2025, the new plant is expected to create more than 800 jobs in Shandong Province.