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After one year saw the negotiations, Jianghuai once again achieved new development in the medium and heavy truck market. September 16, JAC and NC2LuxembourgPropertyS.arl. (hereinafter referred to as "NC2") and UCAR Truck Engine Investment Co. (hereinafter referred to as "Navistar") formally signed the "Joint Venture Contract" for the medium and heavy trucks and the "Joint Venture Contract" for the engine with a total investment of 30 100 million yuan and 1.8 billion yuan will reach the production scale of 80,000 Taizhong heavy trucks and 250,000 engines. The analysis pointed out that this is another important move taken by JAC after the success of the sedan market and light truck market. It not only created a precedent for China-U.S. cooperation in China's heavy truck sector, but also changed the inferior position of JAC's heavy trucks.
Total investment will reach 4.8 billion yuan
According to the signed "Joint Venture Contract", Jianghuai will establish a joint venture with two partners respectively. Jianghuai Automobile and NC2 established Huijiang Huai Naka Heavy Duty Truck Co., Ltd., with a registered capital of 1.2 billion yuan. Both sides invested 600 million yuan each, which accounted for 50% of the joint venture company's shares, of which Jianghuai Automobile invested capital and NC2 used cash. Investment, and the total investment will reach 3 billion yuan, and the designed capacity will be 80,000 units. It is principally engaged in the development, design, testing, manufacture and sale of medium trucks and heavy trucks, as well as related parts and components; import and export business related to products and components; after-sales service, technical support and consulting services; research and development and technology transfer.
JAC and Navistar will establish Anhui Jianghuai Navistar Diesel Engine Co., Ltd. with a registered capital of 600 million yuan, each of which will contribute 300 million yuan each, which will account for 50% of the joint venture company's shares, of which Jianghuai Automobile will use assets. The capital contribution was paid in cash, and Navistar paid in cash. The designed capacity is 250,000 engines, including 180,000 light diesel engines and 70,000 medium and heavy diesel engines, with a total investment of 1.8 billion yuan. Mainly engaged in research and development, design, testing, manufacturing, assembly, promotion, sales, distribution and import and export of diesel engines and their parts and components, and provide related after-sales parts and after-sales service.
Both sides need to take the joint venture
NC2 is a joint venture between Navistar and Caterpillar and uses Navistar and Caterpillar's product technology and sales network to develop, produce and sell commercial trucks in a global market outside of North America. A total of 3.0L-12L diesel engines for high-power trucks. Analysts pointed out that Navistar's hand-holding of Jianghuai valued the huge heavy truck market in China.
Last year, under the influence of the financial crisis, global commercial vehicle production fell by 29%. China’s commercial vehicle market has grown by over 22%. In terms of output, it has accounted for 49% of global production. In the first half of this year, the Chinese commercial market has soared by 76%. %. In addition, China’s expressways have developed rapidly. The volume of road freight in the first half of this year has reached 11.454 billion tons, an increase of 15.5%.
Jianghuai Automobile will use the strength of its joint venture partners to increase its domestic heavy truck market share and adjust its product structure to lay the foundation for Jianghuai Automobile to develop overseas markets. Zuo Yanan, chairman of JAC, stated that the joint venture and cooperation project of medium and heavy trucks and engines is the highlight of JAC's '12th Five-Year' structural adjustment and product upgrading, and this cooperation will help to consolidate the core position of JAC's commercial vehicle business. Moreover, the joint venture company established this time will mainly develop "JAC" independent brands.
Heavy truck greets "Golden Nine Silver Ten"
Jianghuai Gefa Sales Promotion
Recently, Jianghuai Automotive announced that in order to maintain the rapid growth from January to August, it will launch a number of value-added incentives during the “Golden September†period, and purchase its full range of H, M, L, etc., covering traction and cargo loading. , dumping and other models will receive discounts.
In the heavy truck market, many tractors often stop working due to glitches. For this reason, JAC Gehrfa continued to launch the “Grunt Action†campaign from September to December 2010, covering all its H, M, L and other series, covering traction, cargo, and dumping models. The purchase of the above models will directly receive a gift box worthy of RMB 1,000. At the same time, for different power configurations, horsepower segments, uses, etc., introduced unique preferential policies, such as 8 × 4 trucks currently have 4000-6000 yuan discount, and some tractors, dump trucks even 5000-10000 yuan promotions policy.
Jianghuai said that not only did it not only maintain its rapid growth from January to August, but it also launched a number of preferential measures during the “Golden September†period, which triggered the first shot of the “Golden 9 Silver 10†heavy truck market.