According to a cooperation agreement signed between China National Heavy Duty Truck Group and Chengdu Ace Vehicle Group Co., Ltd. on the 23rd, China National Heavy Duty Truck will invest in Chengdu Trump by way of capital increase, and build an annual production base of 400,000 commercial vehicles in Chengdu.
According to an agreement reached between China National Heavy Duty Truck and Chengdu Trump, the two parties will jointly invest in the establishment of "China Heavy Truck Group Chengdu Trump Commercial Vehicle Co., Ltd." in Chengdu to develop a full range of heavy, medium, light and micro commercial vehicles and other automotive products. . Through capital increase and expansion of shares, Sinotruk holds 80% of shares, and Chengdu Trump holds 20%. China National Heavy Duty Truck recently invested 1 billion yuan and its long-term investment was 3 billion yuan.
The joint venture partners will give full play to their respective advantageous resources and build the joint venture into an annual production base of 400,000 commercial vehicles. By 2015, it will strive to achieve the goal of 100,000 Taichung, heavy trucks, and 300,000 light and micro cards. In 2011, it first launched 100,000 Taichung and heavy truck projects.
CNHTC has successfully reorganized Guangxi Liuzhou Yunli Special Purpose Vehicle Factory, Hubei Warwick Special Purpose Vehicle Factory and Datong Automobile Gear Company, and established a joint venture dedicated car company in Mianyang, Sichuan. This is the first time that CNHTC has cooperated with companies outside the Group for full vehicle cooperation. CNHTC will develop from a single heavy-duty vehicle manufacturer to a full range of commercial vehicle manufacturers.
China National Heavy-duty Truck Group Co., Ltd. is the major heavy-duty truck production base in China, and is also the cradle of China's heavy-duty automotive industry. It has developed and manufactured China's first heavy-duty truck, the Yellow River JN150, and successfully introduced the Steyr heavy-duty truck vehicle technology project. It is famous for independent research and development HOWO series heavy trucks. At present, nine series of heavy-duty vehicle products, including HOWO-A7, HOWO, and Gold Prince, which have independent intellectual property rights, have been developed with more than 2,700 models, forming an annual production capacity of 200,000 heavy trucks and 250,000 heavy-duty automobile engines. The main business of Chengdu Trump Automotive Group Co., Ltd. includes the manufacture and sales of parts and components for trucks, special vehicles, low-speed vehicles and cargo compartments, and cabs.
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