With the development of China's economy and society, the huge heavy truck market has not only made China's heavy-duty truck companies gain a lot, but the foreign heavy-duty truck giants have joint ventures with Chinese companies to expect a share in the world's largest heavy-duty truck market.
Judeka T7H jointly developed by Sinotruk and Man
In July 2009, Sinotruk (Hong Kong) Co., Ltd. signed a series of legal documents including the shareholders’ agreement, the technology licensing agreement, the share purchase agreement, and the convertible bond subscription agreement with the German company Mann. Both parties announced that At the capital level, long-term strategic cooperation.
In August 2009, Foton Motor and Daimler signed a letter of intent for the joint venture. The two parties formed a medium and heavy truck joint venture with 50:50 equity to produce Futian Medium and Heavy trucks and Mercedes-Benz OM457 engines. The products will use the Futian Auman brand.
In a recent interview with media reporters in Beijing, Navistar Group Chairman and CEO Daniel Eustien stated that the joint venture formed by Navistar and Jianghuai will not use the Navistar brand in trucks. Jianghuai brand, but to build the joint venture's own brand.
Compared to the direct export of vehicles by passenger car multinational companies, it is beneficial for heavy truck companies and multinational companies to launch new brands through joint ventures. Without a joint venture brand, there is no consensus reached. After reaching a consensus, the "hybrid" product is positioned between the two, and there will be relatively good market returns. In addition to the joint ventures between Navitas and JAC, Foton and Mercedes-Benz have similar plans. After the joint venture, Fukuda's marketing channels and service network are open to Mercedes-Benz, but Mercedes-Benz's foreign channels are limited to Fukuda. In order to enter the North American and European markets, Foton needs a new brand to open up the situation. Otherwise, relying on the Futian Auman brand is difficult to get approval from high-end market users.
Started in JAC heavy truck business in 2004, the initial introduction of South Korea's modern heavy truck technology, the price is higher than similar models 30,000 to 50,000 yuan, the user does not recognize. Later, Jianghuai independently developed medium- and heavy-duty trucks, and its products lacked advantages compared with competitors in the market. After a joint venture with Navistar, it will gradually realize the self-production of heavy-duty truck engines, which will increase its overall competitiveness. It is reported that the joint venture project does not include the introduction of Navistar's entire vehicle product, which has avoided the shortcomings of the narrow market space for high-end products that emerged from the previous joint venture.
Extended reading
Navistar is a leading manufacturer of commercial vehicles and engines in North America. It is a world-renowned truck and car manufacturer. The company was founded in 1902 in Illinois, USA. Navistar's history can be traced back to 1831, formerly known as McCormick and International Harvester. Today, Navistar is North America's largest manufacturer of medium-sized diesel engines and Class 6-8 commercial trucks and buses. The company manufactures International® branded MaxxForce diesel engines for commercial trucks, IC-brand schools and commercial buses, and Workhorse brand chassis for travel and vans, as well as its own brand design companies and convertible small cargo trucks. Manufacturer of trucks, SUV market. Navistar is also a supplier of parts for trucks and diesel engines. It owns a wholly-owned subsidiary and provides financing services.
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