Hyundai Heavy Industries, a leading construction equipment manufacturer, today announced plans to develop new 21-ton battery-powered excavators.

Under the government sponsored project to develop 21-ton battery-powered excavators, Hyundai Heavy plans to complete the development of the construction equipment by 2016.

The new battery-powered excavators will use 40% less fuel than other types of excavators. The new excavators are also eco-friendly in that they use electric motors to achieve zero gas emissions.

Mr. Koo Ja-jin, senior vice president and head of R&D center of Construction Equipment Division said, “By developing battery-powered excavators Hyundai Heavy will play a role in revitalizing domestic construction equipment parts industry including batteries, electromotors and inverters. Moreover Hyundai Heavy will take the lead in the world’s construction equipment market by continuing to develop hi-tech construction equipment.”

HHI’s Construction Equipment Division aims to become the World No.1 electric excavator manufacturer by 2024 with 20% global market share and USD 5.7 billion in sales.

As a leading excavator manufacturer, Hyundai Heavy has been active in developing new models of excavators and support systems. In 2010, the Company developed the world’s first reel excavators (power is provided through the attached electricity reel). Hyundai Heavy also unveiled 22-ton hybrid excavators that feature an electrical system alongside a traditional diesel engine that captures energy from the braking of slewing movements and movements of the boom earlier this year.