Godrej & Boyce targets mkt share boost with battery-powered forklift truck

Godrej & Boyce, a part of the Godrej Enterprises Group, which launched India's first lithium-ion battery-powered forklift truck featuring a fully indigenously developed Battery Management System (BMS), is aiming to increase its market share to 30 per cent from the current 26 per cent in the materials handling segment. With this launch, the company also aims to increase its revenue from Rs 1,000 crore to Rs 1,500 crore over the next two years.

The BMS was developed in collaboration with Log9 Materials and currently boasts 30 per cent localisation. The company aims to achieve 100 per cent localisation of lithium-ion cells by the end of next year. The company will roll out deliveries from next month. Godrej & Boyce has been making forklifts for 60 years.

The capacity for the forklift is 1.5 to 3 tonnes. The new forklifts, to be manufactured at Khalapur, Maharashtra, are set to benefit industries including automotive, FMCG, consumer durables, retail, pharmaceuticals, and e-commerce, aligning with the growing demand for advanced logistics solutions amid India's rapid infrastructure development. The company is increasing its capacity from the current 4,000 units annually to 15,000 forklifts annually, with operations expected to commence by the end of 2024.