Hyundai Material Handling is ramping up its European ambitions with a new growth strategy, a bigger dealer network and a major push into electric forklifts.
The company said it is intensifying its focus on the European market through the systematic electrification of its product portfolio and a significant expansion of its sales operations.
Dongjoon “DJ” Lee has led Hyundai Material Handling’s European operations as head of division since January 2026.
His appointment follows the creation of HD Hyundai XiteSolution in 2023, which has made forklift and warehouse technology one of HD Hyundai Group’s key strategic pillars.
HD Hyundai XiteSolution acts as an intermediate holding company, bringing together HD Hyundai Construction Equipment and HD Hyundai Infracore, formerly Doosan Infracore.
The structure is designed to strengthen group-wide synergies in development, production and sales.
Mr Lee, who was previously head of global sales at the company’s headquarters, has more than 25 years of international leadership experience within the Hyundai Group.
His appointment underlines the importance Hyundai is placing on Europe as a growth market.
Mr Lee said: “With the establishment of HD Hyundai XiteSolution, the Industrial Vehicles division has been strategically repositioned to operate more independently and competitively on a global scale.”
He said the company’s aim was to establish Hyundai Material Handling in Europe as “a premium supplier with a high degree of vertical integration and particularly short delivery times”.
Hyundai’s European growth strategy includes expanding its dealer and sales network, particularly in Central Europe, and increasing its range of electric forklift trucks.
The company also plans to introduce new high-voltage electric forklifts in the heavy-duty segment, with load capacities from 10 to 18 tonnes, by the third quarter of 2026.
Hyundai said it is also targeting spare parts availability of 97%, while expanding financing programmes for dealers and customers.
Service and support structures across Europe will also be strengthened as part of the strategy.
Electrification is a major focus for the company.
Following the launch of its high-voltage B-X series in the 4 to 9-tonne range, Hyundai plans to unveil new electric heavy-duty forklifts from 10 to 18 tonnes in September 2026.
From November 2026, the company will also introduce a new range of three-wheeled electric forklifts in the entry-level segment, covering 1.5 to 2 tonnes.
By 2028, Hyundai aims to modernise and expand its full electric range in the 1.5 to 5-tonne category.
The company is also investing in its European sales organisation.
In the first quarter of 2026, Hyundai signed nine new dealer agreements in France, Italy and the Baltic region.
A further 20 sales partners are expected to join the network by the end of the year.
The expansion will focus particularly on Germany, Spain and the UK.
Mr Lee said: “Competent and financially stable sales partners are a key factor for success.”
He added that customers would also benefit from competitive delivery times.
“Once an order is received, we deliver vehicles to Europe within approximately 3.5 to 5 months,” he said.
“In addition, we keep a wide range of models in stock, directly at our European warehouse, ensuring that selected vehicles are available at short notice.”
Hyundai said one of its key competitive advantages is the group’s high level of vertical integration.
Through HD Hyundai Infracore, the company has in-house expertise in engines, transmissions and hydraulic systems.
The company said this would help strengthen production stability at a time of global supply chain risks and volatile raw material markets.
Its main production site remains in Ulsan, South Korea, with annual capacity of around 25,000 industrial trucks.
Hyundai is also highlighting its warranty offer for European customers.
Models manufactured in Korea come with a standard warranty of three years or 4,000 operating hours on spare parts.
Drive batteries are covered for five years or 10,000 operating hours, with Hyundai guaranteeing 85% of remaining battery capacity after five years.
The company said its combination of a broader product portfolio, delivery reliability, a growing dealer network and electrification strategy would support ambitious growth plans in Europe.
Over the next five years, Hyundai Material Handling is aiming for a 4% to 5% share of the European counterbalanced forklift market.