LS Mtron and DY Innovate Sign Business Agreement for Agricultural Electric Cart Collaboration

Expanding Product Portfolio with Agricultural Electric Cart Business

LS Mtron announced on the 3rd that it has signed a business agreement (MOU) for the agricultural electric cart business with DY Innovate, a company specializing in industrial mobility.

Lee Sang-min, Head of LS Mtron Tractor Business Division (sixth from the left), and Lee Seung-chang, CEO of DY Innovate (seventh from the left), along with other officials, are taking a commemorative photo at the 'Agricultural Electric Cart Business Cooperation MOU Signing Ceremony.'
[Photo by LS Mtron]

The signing ceremony was held the previous day at the headquarters of DY Innovate in Iksan-si, Jeollabuk-do. Key officials from both companies, including Lee Sang-min, Head of the Tractor Business Division at LS Mtron, and Lee Seung-chang, CEO of DY Innovate, attended the event.

The two companies will promote the development and sales of agricultural electric carts targeting domestic and North American markets, share market information on agricultural electric carts, and collaborate on technology development and business cooperation in other electric mobility and autonomous driving areas.

Agricultural electric carts are used for moving around farmland and loading and transporting crops and farming tools. Their steering system is similar to that of regular cars, making them easy for anyone to drive. Unlike carts powered by internal combustion engines, electric carts emit no exhaust fumes and produce less noise and heat. They can be conveniently charged using a household 220V charger. Following the trend of mobility electrification, the electric cart market is expected to gradually expand.

LS Mtron began its tractor business in 1977. It was the first in the industry to commercialize autonomous tractors and develops and mass-produces engines and implements in-house. Based on its tractor business expertise, the company plans to launch agricultural electric carts that combine functionality and safety.

Head Lee Sang-min said, "By leveraging LS Mtron’s agricultural machinery business expertise and DY Innovate’s electrification technology, we will provide customers with safe and convenient agricultural electric carts."

This content was produced with the assistance of AI translation services.