Yesterday, Dongfeng Motor Group Co., Ltd. and the newly formed Dongfeng Commercial Vehicle Co., Ltd. of Volvo Group were formally established in Shiyan.
It is understood that Dongfeng Commercial Vehicle Co., Ltd. has a registered capital of 9.2 billion yuan, Dongfeng Motor Group holds 55% equity, and Volvo Group holds 45% of the equity. According to the strategic cooperation agreement, Dongfeng Commercial Vehicle Co., Ltd. will develop, produce, and sell "Dongfeng" brand vehicles covering medium-heavy trucks, passenger cars, special vehicles and chassis, engines, transmissions, etc.
According to related parties of Dongfeng Group, the new joint venture company will build a manufacturing base in Shiyan and will build a research and development institution in Wuhan. In addition to constructing the four major traditional technology blocks for assembly, welding, painting, and stamping, Shiyan's manufacturing base will also build an engine plant.
Last year, the Ministry of Industry and Information Technology explicitly requested that, starting from January 1, this year, the diesel IV standard should be implemented, and State III must not sell any more. Therefore, one of the cores of this cooperation is that Volvo will technically support Dongfeng, on the one hand, it will upgrade technology, and on the other hand it will form a complete product plan. "The alliance between the two sides is all required. Volvo needs to use the east wind to upgrade the Chinese market. Dongfeng needs technology to stabilize the domestic market and go overseas." Huang Gang, general manager of Dongfeng Commercial Vehicle Co., Ltd., said. The new company will use the technology and expertise of both parties to continuously upgrade and upgrade the product platform of medium- and heavy-duty commercial vehicles, comprehensively upgrade the product planning and R&D capabilities of Dongfeng commercial vehicles, and build a world-class advanced technology center and commodity planning system for commercial vehicles. To build overseas manufacturing systems and overseas sales systems that meet the needs of strategic development.
It is understood that since January 26, 2013, Dongfeng Motor Group and Volvo Group have signed a strategic alliance framework agreement in Beijing, and the two sides have carried out a series of process approval, contract negotiations, business promotion and other project work in accordance with relevant laws and regulations. After two years of preparation, the Chinese government and the EU have all completed the approval process.
In 2014, the Dongfeng Motor Group's “Dongfeng†brand heavy truck market share was 21%, and the medium truck market share was 26%, ranking first in the industry. Among them, Dongfeng Commercial Vehicle Co., Ltd.’s medium and heavy truck market share. 16%. Although Dongfeng Commercial Vehicles has taken a leading position in the Chinese market, Dongfeng Commercial Vehicles are hard to keep up with because of the overall downturn in the domestic commercial vehicle market in recent years. In 2014, the sales volume of Dongfeng commercial vehicles and heavy trucks was 156,000, a year-on-year decline of 6%.
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