At the end of 2008, a joint announcement issued by China National Heavy Duty Truck (Hong Kong) Co., Ltd. drew the appetite of the media. According to the announcement, "The company is in discussions with an independent third party about possible long-term strategic cooperation. Both parties are discussing the scope and form of possible cooperation."
During this time, it was reported that Germany will be the cooperation partner of SINOCHEM, but it has not received a positive reply from CNHTC. Recently, the reporter learned from informed sources that this cooperation partner may be Volvo.
Which company will win the favor of CNHTC? Which is more likely to cooperate with heavy-duty trucks and Volvo, heavy truck and German Mann?
Volvo Says Cooperation Continues
Recently, the reporter heard rumors that Volvo will restart the cooperation plan with Sinotruk.
The reporter learned from the confirmation of Jiang Wei, vice president of Volvo (China) Investment Co., Ltd., that Volvo did not agree with this speculation. Chiang Kai-shek told reporters that the cooperation between Volvo and China National Heavy Duty Truck Group did not exist. Volvo has been discussing with SINOCHEM how to further cooperation. She said that in view of Volvo Group's development plan in China, in recent years, heavy trucks are not Volvo's main business in China, and Construction Machinery is the focus of future development.
Jiang Hao said that the proportion of Volvo Construction Machinery in China's business reached 60% to 70%, and this proportion will increase in 2009; followed by passenger car projects, including the two joint ventures of Xiwo and Shenwo, which accounted for the entire business. The proportion reached 20%. “The last is the truck project, which is less than 10% of the total,†Jiang said.
On the one hand, the 30-year joint venture agreement signed by Volvo and CNHTC had not arrived yet; on the other hand, the possibility of Volvo's failure to take ownership of the East Wind is greater. From these two perspectives, deep cooperation between Volvo and CNHTC is not impossible.
Waldorf Trucks, a joint venture between Volvo Trucks and China National Heavy Duty Truck Group, has been dying, but according to the original joint venture contract, Volvo could not easily withdraw from Huawo. In addition, with the rapid development of China National Heavy Duty Truck in recent years, in three years, the scale of production and sales has been increased from 40,000 to 100,000. The scale of production and sales of heavy trucks is already on top of the east wind, so Volvo and its fellow Dongfeng have made difficult progress. Negotiations are not as easy as restarting the Huawo project.
In addition, "Volvo's Dongfeng Incident" has died down after it was once stirred up. It is understood that as early as January 2007, Volvo signed a non-binding framework agreement document with Dongfeng Group, Nissan Motors, and Dongfeng Motor Co., Ltd., stating that Volvo Group will invest in Dongfeng's medium and heavy commercial vehicle and engine business. At that time, it was speculated that if the cooperation is successful, Volvo will have the strength to compete with Daimler, the world leader in heavy trucks, and it will likely change the competitive landscape of the world's heavy trucks. However, in the media's catching up with the ambiguous responses of the parties, the joint venture has not been seen below.
Man will hold heavy gas?
The outside world once targeted the heavy-duty trucks' cooperation in the cross-border heavy truck giants. Judging from the current situation, Daimler has signed a cooperation agreement with Beiqi Foton to develop cooperation with the Chinese market and overseas markets. Iveco has also found partners in the heavy truck industry in China, SAIC and Hongyan. With respect to heavy-duty trucks, the only possible remaining partner is Germany's Mann.
German Man denies this statement. On March 26, Sun D, ​​who was in charge of propaganda work for Germany, told reporters that the news was not true.
However, the reporter learned from a person close to CNHTC that the cooperation between MAN and Sinotruk has basically been finalized. It is only waiting for the final announcement. According to this person's analysis, the cooperation between Germany and China Heavy Gas will take the form of capital cooperation. It is understood that there are two cooperation methods that CNHTC intends to adopt: one is the production of foreign products with a license; the other is that the other party can participate in shares in China National Heavy Duty Truck, and the form of share participation may include the distribution of new shares by Sinotruk to the other party. Or transfer the shares issued by Sinotruk to the other party.
The source told reporters that capital-level cooperation may be more able to allow both partners to sit on the same boat than purely technical cooperation. Germany is just a condition for capital cooperation. It is understood that Germany has recently retreated from Yutong’s joint venture, lionbus.
Guo Huanan, director of the Propaganda Department of Sinotruk Group, told reporters that although there was no news of the cooperation between the group and German Man, it is certain that Sinotruk is very cautious in terms of cooperation, and in selecting partners, they value whether the two parties have the same development goals. Sex, whether the other party has a certain technical reserves, and this technology is exactly what heavy gas needs. With the acquisition of Big Gear, CNHTC has enriched the weak links in the transmission industry chain. In the same way, the next step for the selected partner of CNHTC is that its technological advantage must be a weak place in the CNHTC industrial chain.
In the past two years, Germany's M & A in the international mergers and acquisitions is not as smooth as imagined. Since 2006, Germany has begun to buy Scania, but the result is a third-party profit for the public. Although German Man successfully acquired the Volkswagen Group's commercial vehicle production base in Brazil in 2009, Volkswagen, as the majority shareholder of German Mann and Scania, Germany, Mann received its Brazilian commercial vehicle production base, and it did not lose much for the public. It is nothing more than a hand-wringing from the left to the right.
In addition, in 2008, German Man CEO stated that at this stage, the group will focus on exploring new markets, and emerging markets include China. Therefore, looking for a strong partner in the Chinese market to cooperate, Germany’s move Of course.
Based on the above analysis, the “independent third party†mentioned by CNHTC in the announcement seems to be more likely to be German Mann.
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