Seoul, South Korea – March 25, 2025 – LG Energy Solution, a global leader in advanced battery technology, and Doosan Bobcat, a renowned manufacturer of construction and agricultural equipment, today announced a strategic memorandum of understanding (MoU) to jointly develop standardized battery pack solutions. This collaboration aims to revolutionize power solutions for a wide range of equipment, from compact construction machines to agricultural and landscaping vehicles, and ultimately extend into emerging mobility sectors.
The partnership leverages the strengths of both companies. LG Energy Solution will provide its high-quality lithium-ion battery cells and modules, recognized for their exceptional performance and stability. Doosan Bobcat will contribute its expertise in equipment integration, adding sophisticated battery management systems (BMS) and packaging the batteries into standardized battery packs specifically optimized for compact construction equipment. This integrated approach promises to streamline production, enhance performance, and reduce costs for both companies and their customers.
“We are incredibly excited to partner with Doosan Bobcat in this groundbreaking initiative,” said a spokesperson for LG Energy Solution. “This collaboration aligns perfectly with our commitment to expanding our reach beyond the automotive sector and establishing a sustainable battery ecosystem across new mobility industries. Doosan Bobcat’s deep understanding of equipment integration and their established market presence make them an ideal partner.”
The initial focus of the collaboration will be on developing battery packs for compact construction equipment, including skid steer loaders and excavators. Once the first prototypes are completed and validated, the companies plan to explore expanding the battery pack solutions to encompass a broader range of equipment, including tractors, agricultural machinery, and landscaping vehicles.
Hyunchul (Charlie) Park, CSO and Executive Vice President of Doosan Bobcat, expressed his enthusiasm for the partnership, stating, “We are pleased to develop battery packs for compact construction equipment on the back of excellent quality and stability of LG Energy Solution’s cells. We will standardize battery packs for compact construction equipment and provide solutions to major markets such as North America.” He further emphasized Doosan Bobcat’s commitment to innovation, adding, “We plan to develop optimal battery packs by collaborating with leading global companies and apply them to various types of compact equipment.” Park also indicated that Doosan Bobcat is actively seeking further partnerships in the battery technology space to accelerate its electrification strategy.
This collaboration builds upon existing experience. Doosan Bobcat has already established a successful partnership with Chinese lithium-ion battery company CosMX, developing battery packs with enhanced stability and performance. These advanced battery packs have been incorporated into electric forklifts, which have been available for sale since last year. The two companies recently solidified their collaboration with a Technical Assistance Agreement, signaling a long-term commitment to joint development.
Recognizing the growing importance of battery technology, Doosan Bobcat has significantly invested in its own research and development capabilities. In January, the company established a dedicated battery research team to drive innovation and explore new battery technologies. Furthermore, Doosan Bobcat has announced plans to establish a state-of-the-art R&D center in Pyeongchon, Anyang City, Gyeonggi Province, South Korea. The center, slated for completion in the second half of 2025, will focus on technical validation for battery pack manufacturing and contribute to the development of next-generation battery solutions.
LG Energy Solution’s press release highlights the company’s broader strategy of expanding into “non-EV areas of pursuit.” While the initial focus is on construction equipment, the battery packs will also be applicable to electric vehicles, demonstrating the versatility of LG’s technology. Looking ahead, LG Energy Solution is actively exploring opportunities in emerging mobility industries, including Urban Air Mobility (UAM) and electric vessels, positioning itself as a key player in the future of transportation.
This partnership between LG Energy Solution and Doosan Bobcat represents a significant step towards a more sustainable and electrified future for the construction, agricultural, and mobility sectors. By combining their expertise and resources, the two companies are poised to drive innovation, reduce environmental impact, and create new opportunities for growth. The standardized battery pack solutions are expected to improve equipment performance, reduce operating costs, and accelerate the adoption of electric power across a wide range of applications.
