China National Heavy Duty Truck, which already has a lesson from before, has learned lessons from this cooperation with Man. It can be seen that the cooperation between China National Heavy Duty Truck and Mann has provided a new idea for the Sino-foreign joint venture and cooperation of commercial vehicles.
Even though Sinotruk and Weichai have separated their homes for more than three years, the bitterness between them has evaporated, but the news about them has often been compared with people intentionally or unintentionally.
On June 18 of this year, Shandong Heavy Industry Group, with Weichai as its core, was established in Jinan. This was actually seen as the reorganization of Weichai in Shandong Province. At the same time, people have also turned their attention to China National Heavy Duty Truck, the Chinese commercial vehicle giant that has been designated as one of the “four small†by the “Detailed Regulations for the Revitalization of the Automobile Industryâ€.
Before this, China National Heavy Duty Truck has successfully reorganized Datong Gears. After becoming “four small,†the rumor about Sinotruk’s “restructuring†has always been there, but it has ended up in rumors. After the chairman of Weichai Tan Xuguang became the chairman of Shandong Heavy Industry, people felt that China National Heavy Duty Truck seems to have something happening. Sure enough, what happened a month later was amazing enough.
A worthwhile business
On July 16, China National Heavy Duty Truck (Hong Kong) Co., Ltd. announced that the German company Manco spent 560 million euros (about 6.048 billion Hong Kong dollars) to take a stake in China National Heavy Duty Truck about 25%+1 shares. This means that China National Heavy Duty Truck achieved a joint venture with German Mann through the share sale of listed companies.
According to reports, this negotiation began last year. During this period, there was hardly any leakage. Even at the beginning of July when China National Heavy Duty Truck Chairman Ma Chunji accepted the “Car Watch†interview, he still did not mention it. This shows the confidentiality of both parties. How to do it in place.
In fact, after the separation from Weichai, although China National Heavy Duty Truck has solved the engine's national III emission technology problems, the follow-up technology to meet the National IV and National V emission standards is its weakness.
The current marriage with Man, it really is the technical cooperation between the two parties: Sinotruk will enter into a seven-year technology licensing agreement with Mann, Mann grants China National Heavy Duty Truck a complete TGA truck, in line with The exclusive and non-transferable rights licensing technology and technical know-how in China, and the relevant distribution, after-sales maintenance, and service licensing technology of the D08, D20 and D26 engines and related components of the Euro III, Euro IV and Euro V emission standards. Expertise rights.
Just as Ma Chunji said after signing the contract with Man, "After signing a shareholder agreement, a technology licensing agreement, a share purchase agreement, and a convertible bond subscription agreement with Man, it will solve China National Heavy Duty Truck Group's environmental protection in the next three generations. The problem of truck production technology."
And all this, China National Heavy Duty Truck only needs to pay a total of less than 900 million yuan. Therefore, no matter from what point of view, for Ma Chunji, this is a very cost-effective transaction. He knew that such a "fixed tone" would enable China National Heavy Duty Truck to put its other domestic competitors far behind, and its heavy truck leader will be more stable.
Of course, Man does not suffer. The international heavy truck giants have been seeking to expand their market share in China, but they have always been stumbled. German Man Truck has been in China for 25 years. It once cooperated with China in the form of "technology transfer". However, the desire to seek a joint venture to establish a factory in China and seek business expansion has not been realized for many years.
As we all know, China has become the largest market for heavy trucks, and the heavy truck market is growing fastest in the automotive segment. China National Heavy Duty Truck is now not the "green young man" who purchased Steve from Man, and has developed into a leader in heavy trucks in China. The cooperation between the two parties, on the one hand, Mann can share the abundant profits brought to China National Heavy Duty Trucks through the holding of one-quarter of China National Heavy Duty Trucks Corporation, and it will greatly benefit the production and localization of MAN products in China. There are benefits, can fast
Speed ​​up its market share.
Mann was even conceiving that in the future it will use China as the basis to use China's labor cost and market advantages to vigorously counter the old rivals Volvo and Mercedes.
Commercial vehicle joint venture new ideas
Just after China National Heavy Duty Truck announced its cooperation with Man, another news that appeared was worth pondering. Some media quoted informed sources that China National Heavy Duty Truck Group and Volvo have reached an agreement on the handling of the Huawo project in the near future: Based on mutual consultations, Volvo agreed to withdraw from the joint venture company.
The Huawo project is actually a joint venture between Volvo Trucks of China and Sinotruk in 2003, Jinan Huawo Truck Co., Ltd., which was the first approved heavy-duty vehicle joint venture project in China and was once a commercial vehicle at that time. Joint venture of beauty talks.
However, with the changes of the world, this project has now become a negative textbook for unsuccessful joint ventures. The reason for its unsuccessfulness is also well known. High-end Volvo trucks with prices over 600,000 yuan have almost no market in China. The 50:50 joint venture ratio between the two sides has also become a difficult problem in decision-making and management because local companies currently account for the domestic heavy truck market. With a share of more than 90%, local companies have an absolute say, but foreign companies will never give in to technological advantages.
This led to the basic operation of Hua Wolian has become a problem, until today's ending.
Undoubtedly, China National Heavy Duty Truck, which already has a lesson from before, has learned its previous lessons in this cooperation with Man. It can be seen that the cooperation between China National Heavy Duty Truck and Mann has provided a new idea for the Sino-foreign joint venture and cooperation of commercial vehicles.
Mann is entering into China's commercial vehicle market through the purchase of shares of CNHTC, but only has a 25% stake. CNHTC is still a major shareholder of the company and has absolute control. The benefits of the Chinese party's holdings can fully exert its advantages of being familiar with and mastering the domestic market, and it can also have more decision-making powers in the future technical cooperation, and the imported technology is more suitable for China's national conditions.
In fact, China's Sinotruk and Volvo's joint venture project has made the country's major commercial vehicle companies deaf, and they have learned this lesson in varying degrees in foreign cooperation. In addition, a new model was created. For example, SAIC Iveco Hongyan adopted a Sino-Chinese-foreign joint venture model and intended to achieve accurate market recognition and decision-making initiative through two Chinese shareholders.
At the same time, foreign commercial vehicle giants, which have been unable to open the situation in China, are gradually laying down their positions. They are no longer stubbornly insisting on using their own brands and introducing and promoting their own “high quality and high price†products. They no longer emphasize their own words. leading. Before the joint venture between Foton and Daimler, the latter only took technology and did not take products and brands.
Mann had previously held joint ventures with Shaanxi Auto. However, due to differences in brand use, the two sides could not come together. This time, Mann changed his previous "tough" attitude and did not require Sinotruk to import the "Man" brand, but instead authorized China National Heavy Duty Truck to use integration and engine technology. Mann's current practice also means that he "thought it out", and his ideas when working with Daimler-Benz and Fukuda are exactly the same.
However, although people in the industry are optimistic about the new model of such a commercial vehicle joint venture, but because it is still in its infancy, it is still worried about the future development, for example, how the imported technology will be digested in the future to ensure the original gene of its technology. Will it not increase the cost substantially and get out of market demand? In the future, will Man not increase its shares through the operation of the stock market, and even achieve the purpose of holding heavy gas? Does China National Heavy Duty Truck become a subsidiary of Mann?
If this is the case, there will still be a battle of capital in the future.
View related topics: Joint venture hot car
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