Doosan Bobcat and joint venture to develop hydrogen forklift

Doosan Bobcat's forklift truck that runs on hydrogen [DOOSAN BOBCAT]

Doosan Bobcat will develop a hydrogen forklift with a yet-unnamed joint venture between Korea's SK E&S and U.S. Plug.

A memorandum of understanding was signed between the two on Tuesday.

Under the latest partnership, Doosan Bobcat, a heavy equipment manufacturer, will supply the forklift truck and market data while the joint venture will develop a fuel cell system and set up hydrogen charging stations.

When transitioning to eco-friendly powertrain, a fuel cell system is considered more suitable for commercial vehicles such as forklift trucks and buses than lithium-ion batteries because it is lighter and charges faster.

More than 52,000 hydrogen-powered forklift trucks are already operating for major retailers in the United States including Amazon and Walmart.

"We are glad to collaborate with SK E&S and Plug in our first step in developing fuel cell system," said an official from Doosan Bobcat Tuesday.

"We expect to see good cooperation from Doosan Bobcat's No. 1 position in Korea's forklift truck market and the industry-leading fuel cell system technology from SK E&S and Plug."

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]