en.Wedoany.com Reported - Hyundai Material Handling is advancing its product electrification and dealer network expansion strategy in the European market. Since January 2026, Dongjoon ‘DJ’ Lee has taken over as head of the company's European operations, underscoring the strategic importance of the European market.
As an intermediate holding company, HD Hyundai XiteSolution integrates entities such as HD Hyundai Construction Equipment and HD Hyundai Infracore (formerly Doosan Infracore), aiming to strengthen synergies in development, production, and distribution within the group. With over 25 years of international management experience at Hyundai, DJ Lee stated that through the establishment of HD Hyundai XiteSolution, the industrial vehicle division has undergone a strategic restructuring, with the goal of positioning Hyundai Material Handling as a highly vertically integrated, premium supplier with extremely short delivery times in Europe.
The European growth strategy revolves around several key measures, including developing the dealer and distribution network in Central Europe, expanding the electric forklift product line, planning to launch 10- to 18-ton heavy-duty high-voltage electric forklifts in the third quarter of 2026, increasing the spare parts supply rate to 97%, developing financing solutions for dealers and end customers, and strengthening the service and support structure in Europe.
In terms of electrification, following the successful launch of the high-voltage B-X series in the 4- to 9-ton range, Hyundai plans to introduce 10- to 18-ton heavy-duty electric forklifts in September 2026. Additionally, starting in November 2026, the company will launch a new series of three-wheel electric forklifts in the 1.5- to 2-ton entry-level segment. By 2028, the entire electric series in the 1.5- to 5-ton range will be fully upgraded and expanded.
Meanwhile, Hyundai is systematically expanding its European sales organization. In the first quarter of 2026 alone, nine new dealer contracts were signed in France, Italy, and the Baltic region, with an additional 20 commercial partners expected to join the network by the end of the year, particularly concentrated in Germany, Spain, and the United Kingdom. DJ Lee noted that capable, financially stable commercial partners are key to success. Customers can receive vehicles approximately 3.5 to 5 months after placing an order; meanwhile, European warehouses stock a wide range of models for rapid delivery.
Vertical integration is another major competitive advantage. By integrating component technology from HD Hyundai Infracore, Hyundai possesses proprietary technology in engines, transmissions, and hydraulic systems, enhancing production stability amid global supply chain risks. The main production base remains in Ulsan, South Korea, with an annual capacity of approximately 25,000 material handling vehicles. In terms of warranty, Korean-made models come standard with a three-year or 4,000 operating hour spare parts warranty, a five-year or 10,000 operating hour warranty for traction batteries, and a guaranteed 85% remaining battery capacity after five years.
With a broad product portfolio, high supply reliability, a continuously expanding dealer network, and a consistent electrification strategy, Hyundai Material Handling has set a target to achieve a 4% to 5% market share in the European counterbalance forklift market within the next five years.
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