Dongfeng and Volvo set up a joint venture for commercial vehicles
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Recently, Dongfeng Commercial Vehicle Co., Ltd., a joint venture between Dongfeng Motor Group and Volvo Group, was officially launched. It is reported that the new registered capital of Dongfeng Commercial Vehicle is 9.2 billion yuan, that of Dongfeng Motor Group is 55%, and that of Volvo Group is 45%. This is also the largest joint venture project in the field of commercial vehicles in China. In the future, Volvo will introduce the latest technology. The two sides jointly develop new medium and heavy truck products, and based on the Chinese market, fully develop the global commercial vehicle market.
The future will be divided into three steps
As early as January 2013, Dongfeng Motor Group and Volvo Group formally signed a strategic cooperation agreement to establish a strategic alliance with capital as a link. Subsequently, in order to facilitate the conclusion of joint ventures between the two parties, Dongfeng Motor Group made a price of 11.7 billion yuan, repurchasing mid- and heavy-duty commercial vehicle business and assets from Dongfeng Co., Ltd., completely ridding the cooperation between medium and heavy trucks and Nissan, and then transferring 45% of the stock rights to Volvo. The Group formed a new Dongfeng Commercial Vehicle Co., Ltd.
It is understood that after the completion of the new integration of Dongfeng Commercial Vehicle, registered capital of 9.2 billion, Dongfeng Group holds 55%, and Volvo Group holds 45%. In terms of management structure, the board of directors of the new company is composed of seven directors, of whom four are appointed by Dongfeng, three are appointed by Volvo and the chairman is appointed by Dongfeng. The first chairman was Zhu Fushou, general manager of Dongfeng Motor Group. The first general manager was Huang Gang and the vice chairman was appointed by Volvo Group.
According to Dongfeng Commercial Vehicle's strategic vision of “achieving the east wind from China to the worldâ€, Volvo will be divided into three major steps. Among them, we must first maintain China's leading truck brand status; the second step is to take root in overseas growth markets; the third step is to enter the mature market and become a globally recognized and respected brand.
Will be the first to achieve gearbox domestic
It is understood that Dongfeng Commercial Vehicle Co., Ltd. has an independent R&D and production base with an annual production capacity of 200,000 vehicles. The products cover the key of heavy-duty trucks, buses and chassis as well as engines, cabs, frames, axles, gearboxes, etc. Assembly. Its products are long-distance transportation, regional distribution, intercity transportation, construction engineering and mining services. After the completion of the joint venture with Volvo, the new company will focus on mid- and heavy-duty trucks, medium- and large-size passenger cars and special vehicle parts, vehicle development and technical consulting services.
Last year, Dongfeng Motor Group's "Dongfeng" brand heavy truck market share of 21%, medium truck market share of 26%. Dongfeng Commercial Vehicle Co., Ltd. has a medium and heavy truck market share of 16% and sales of 150,000 vehicles.
For the Volvo Group, it will help Dongfeng Group to further consolidate the status of global commercial vehicles. Prior to this, Volvo once had a joint venture with Sinotruk, but due to various reasons, the two sides broke up and ended the original 30-year cooperation plan in advance in 2009. However, the huge market demand in China made this Europe's largest truck manufacturer once again target its cooperation to Dongfeng Group.
After the joint venture between the two parties, Volvo will introduce related technologies to upgrade and upgrade the product platform of medium- and heavy-duty commercial vehicles, develop new models, and build a modular and standardized product platform. And jointly develop the Dongfeng brand heavy-duty engine that meets the national six emission standards and later higher standards.
More importantly, the export of future products of Dongfeng Commercial Vehicles will not be limited, and the products will enter the core market of Europe Volvo, and set up a European branch center.