Chinese Equipment Maker LGMG Eyes Global Mining Market With Electric Trucks, Hong Kong IPO

According to International Mining, Linyi Lingong Machinery Group is aggressively expanding its mining equipment business through two subsidiaries, LGMG and SDLG, with battery electric and hybrid trucks, autonomous haulage systems, and a planned Hong Kong IPO later in 2026.

Market Impact

LGMG reported that sales of its new energy mining transportation equipment surged 197.5% in the first half of 2025 compared to the same period in 2024. The company generated RMB 1 billion in revenue from its electric and hybrid mining truck lineup, which includes the battery electric RTH100 hybrid and RTE136 models in the 91-ton class, plus the 70-ton MTE106H battery truck. The company says it ranked first among Chinese enterprises in the global new energy mining transportation equipment market in 2024.

As of June 30, 2025, LGMG had shipped roughly 1,600 units of new energy mining transport equipment and nearly 600 mining excavators. The company has also deployed close to 1,000 units equipped with intelligent drive-by-wire chassis for autonomous haulage, partnering with AHS technology firms EACON and CiDi across multiple mine sites worldwide. Sister company SDLG, based in Linyi, adds wheel loaders and dozing equipment to the Lingong portfolio.

What It Means for Subcontractors

• New competition on equipment bids. Lingong’s aggressive pricing and growing dealer network could put pressure on equipment rental and purchase costs, which may benefit field service companies shopping for iron but could squeeze margins for equipment suppliers.
• Prepare for unfamiliar iron on site. If mining and civil contractors start running LGMG or SDLG machines, field service technicians and mechanics will need familiarity with new platforms. Training gaps could create service delays or liability exposure.
• Autonomous haulage is expanding fast. LGMG’s deployment of nearly 1,000 AHS-equipped units signals that autonomous trucks are moving beyond pilot programs. Subcontractors working on haul roads, berms, or proximity to haulage corridors should review site safety protocols and confirm their crews understand AHS operating zones.
• Watch the IPO for market signals. LGMG’s planned Hong Kong IPO will force public disclosure of financials and production forecasts. That data could give subcontractors a clearer read on supply chain reliability and parts availability before committing to a fleet relationship.
• Canadian mining relevance. Alberta and British Columbia mine operators have shown openness to Chinese OEM equipment at lower price points. US-based subcontractors crossing the border for work should verify that any unfamiliar equipment meets applicable safety and emissions standards at the provincial level.