“By combining their expertise in mining equipment and propulsion systems, the companies will help meet the needs of customers and partners worldwide, with an initial focus on developing solutions to increase customer productivity and safety for underground mines,” Komatsu said.

The venture, Komatsu GE Mining Systems, will be located at a GE Transportation facility in Erie, Pennslyvania and start operating in April.

The JV will also try to further challenge Caterpillar’s dominance of the open cut mining equipment market.

“Komatsu and GE Transportation have been partners for Komatsu electric dump trucks for use in open pit mines, for which GE has supplied electric drive systems,” Komatsu said.

“By further building on the existing partnership, the new company will combine GE's electric power expertise, electric drive systems and battery technologies with Komatsu's vehicle and information and communication technologies for mining equipment to deliver innovative solutions to global mining customers.”