Under a long-term strategic cooperation agreement, the two partners will work on electric vehicle (EV) battery and advanced powertrain solutions for the construction and industrial equipment markets in Europe.

XING Mobility will supply EV battery packs for EST-Floatech to promote, distribute and service among its partners and customers.

XING Mobility CEO Royce Hong believes that, driven by increasingly strict emissions regulations, Europe is the most advanced market for the electrification of land-based industrial equipment.

"We are confident that our battery innovations, combined with EST-Floattech's experience and impressive credentials, will help to accelerate the adoption of electric vehicle technology in the construction, mining and material handling equipment industries," he said.

XING Mobility's Immersio modular battery system is a stackable solution that can be configured for a variety of size, shape and power needs. Accordingly, in the industrial and construction industries, applications can range from excavation and material handling to mining.

EST-Floattech CEO Trond Skaufel said: "The modular, immersion cooling and fire suppression product of XING Mobility will definitively accelerate our position as a solution provider and service support in Europe."

EST-Floattech, which has offices in Norway and the Netherlands, is affiliated with the Pon Group, one of the largest family firms in the Netherlands with more than 12,000 employees worldwide, operating in 32 different countries.