Caterpillar ( NYSE: CAT ) this month will display prototypes for four electric machines that don't emit greenhouse gasses at a trade show in Europe, the company announced on Tuesday.
The prototypes include the 301.9 mini excavator, 320 medium excavator, 950 GC medium wheel loader and 906 compact wheel loader. Battery prototypes power the machines and have an onboard AC charger. The company also plans to offer an offboard DC fast-charging feature.
"Caterpillar is well positioned to help customers reach their sustainability goals, including lowering emissions on the jobsite," Tony Fasino, president of the Caterpillar's construction industries group, said in the statement.
The lithium ion batteries will also be available to power other industrial applications, and can be recycled at the end of their product life.
The company said it expects the 301.9 and 906 to be the first commercially available models. Caterpillar will showcase the prototypes at the Bauma 2022 trade show in Munich, Germany, on Oct. 24-30.
Caterpillar on Tuesday rose 2.8% to $176.07 a share at 9:37 a.m. ET. The stock has fallend 15% this year, compared with a 22% decline for the S&P 500 Stock Index ( SP500 ).
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Caterpillar to showcase electric machinery prototypes at trade show