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The ups and downs of the domestic heavy truck market have recently made news.
On January 23, China International Marine Containers (Group) Co., Ltd. ("CIMC") announced that it had agreed to its subsidiary companies CIMC Vehicles (Group) Co., Ltd. and Wuhu Tairui Investment Co., Ltd., Shenzhen City. SI Investment Co., Ltd. co-sponsored the establishment of Jirui Union Truck Co., Ltd. The project will invest 2 billion yuan in the first phase and will have all the production technology for heavy trucks. It plans to start production in 2011. CIMC hopes that the joint truck company will become China's future major truck supplier.
Manager Li Ping of Shenzhen CIMC Vehicles (Group) Co., Ltd. (abbreviated as CIMC Vehicles) Planning Department told this reporter that at the beginning of the new year, he frequently traveled between Shenzhen and Wuhu in Anhui. Although he was a bit tired after traveling the past few days, he was greatly gratified to think that he had a contract that might affect the domestic heavy truck market.
According to the above-mentioned announcement issued by CIMC, CIMC vehicles will invest 540 million yuan in the joint truck company, which accounts for 45% of the registered capital; Terui Investment Co., Ltd. will invest 540 million yuan, accounting for 45% of the registered capital; investment from Jiusi Investment Company 120 million yuan, holding 120 million shares, accounting for 10% of the total shares.
This announcement caused a lot of shock in the industry. According to media reports, the legal representative of CIMC's partner, Wuhu Tairui Investment Co., Ltd., is Yin Tongyue, chairman of Chery Automobile. As a result, some people in the industry began to speculate: Has Chery, who has always played a role in the field of passenger cars, have to do something in the heavy truck market?
Chery also wants to make heavy cards
An insider who declined to be named told this reporter: “The directors of Wuhu Tairui Investment Co., Ltd. are Chery's people. The company and Chery are inextricably linked. Therefore, this time, The cooperation between Jiji Group and Wuhu Terry is actually a cooperation with Chery."
Although Chery’s sources said that they were ignorant of this incident, the reporter then got exact answers from the responsible population of the Wuhu City Development and Reform Commission. Chery really had to cooperate with the CIMC to engage in a heavy truck project. The current related work is ongoing. in. The Li Ping manager of CIMC Vehicle Planning Department mentioned earlier told reporters: “In this project, our partner is Chery.â€
Chery's desire to enter the heavy truck market is not a flash rise. Informed sources disclosed to reporters that as early as two years ago, Chery began planning heavy truck production, and obtained truck qualification by reorganizing the FAW Yangko bus. It was exactly two years ago that CIMC began to contact Chery to discuss how to cooperate in heavy trucks.
CIMC selected Chery
CIMC is the largest container manufacturing enterprise in the world, and road transport vehicles are the key development businesses of the company. Since 2002, CIMC has used its own advantages to integrate industry resources through mergers and acquisitions and investment construction. It has established 15 production bases covering the Northeast, North China, East China, South China, and Northwest China as well as Western Europe and North America. A more reasonable layout and an annual production capacity of 120,000 special vehicles. As a subsidiary of CIMC, CIMC Vehicles has become a top-ranked manufacturer of special-purpose vehicles in China and even in the world through restructuring and acquisition of special-purpose vehicles at home and abroad in recent years. CIMC vehicles such as Jinan CIMC Kagel, Yangzhou CIMC Tonghua and Zhumadian CIMC Huajun are all well-known companies in the special-purpose vehicle industry.
CIMC has strong financial strength and has a good foundation in the field of commercial vehicles. Why does Chery, who specializes in passenger vehicles, become its partner in developing the heavy truck market?
Some media speculated that CIMC was looking at Chery’s truck production qualifications and wanted to follow the example of Hualing and Xugong’s “backdoor to market,†but Li Ping denied this claim. “CIMC has many years of experience in the production of special-purpose vehicles, and has strong financial strength. Plus, the country is currently implementing policies to adjust and revitalize the auto industry and encourage mergers and acquisitions among auto companies. Therefore, CIMC and Chery’s strength are applying for truck production. Qualification is not a problem."
“We look at Chery's geographical location and the support policies of the local government.†Li Ping told reporters: “First of all, Anhui Province is located in the middle of China’s eastern region, with convenient transportation from north to south, and convenient logistics and transportation; followed by Anhui. There are heavy-duty truck companies such as Jianghuai and Hualing. The industry supporting environment related to heavy trucks is better. Third, the Anhui provincial government has always attached importance to the development of the automobile industry. In particular, the Wuhu municipal government has a correlation with taxation, capital, and technology development for automobile companies. The support policy, plus we have already had cooperation with Chery in other fields, and have a better understanding of Chery's corporate culture and style of conduct. In consideration of various factors, we think that Chery is the most appropriate partner for CIMC in heavy truck projects. ."
Don't care when entering the heavy truck market
"Since July 1, last year, China's implementation of the National III emission standards, domestic heavy truck sales have been declining all the way, an unexpected international financial crisis is even worse. In addition, the domestic heavy truck market has formed a pattern dominated by seven or eight large companies. It seems unwise for Chery and CIMC to enter the heavy truck field in this context.†Chen Yusong, deputy general manager of research services at Xinhuaxin Automotive Markets, commented on the cooperation between the two parties.
Li Ping responded by saying that CIMC does not care about the timing of entering the heavy truck market. "The heavy truck project of CIMC and Chery Investment is in line with the company's long-term development strategy, which will help improve the competitiveness and operational efficiency of the company in land transportation. The joint venture between CIMC and Chery Investment can make full use of the advantages of both parties in R&D and supply. Chain and after-sales service, etc. will play a synergistic role to achieve the proper status of the medium and heavy truck market."
At present, the joint venture project preparation team has conducted detailed argumentation on the core assembly--engine, transmission, axle and other supply systems of the joint venture heavy truck project, confirmed the main suppliers, and initialed relevant technical agreements and business agreements.