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Although the medium- and heavy-duty truck business has a certain strength, it cannot be denied that its advantages are not obvious, especially in terms of engines, which is a big constraint for the group. Therefore, the Group always hopes to increase the technological advantage of the commercial vehicle business as soon as possible.
In the commercial vehicle industry, many car companies have already begun joint ventures and cooperation projects involving engines. In the face of more mature technology cooperation and products, Anhui Jianghuai Automobile Co., Ltd. (hereinafter referred to as “JACâ€), which started with commercial vehicles, is also facing Tested. In fact, in the face of fierce competitors, Jianghuai Group, which has always insisted on independent research and development, has also established new brand image and corporate status through seeking partners.
It seems that the time has come to sign contracts with the world’s top 500 companies, Navistar, USA and Caterpillar, USA. This year is the starting year for companies to launch the “Twelfth Five-Year Plan†and how to increase the commercial vehicle business in the future. In terms of competitiveness, Jianghuai looks like it has been on the chest.
On September 16th, in the conference room of the Beijing International Trade Building III, Jianghuai signed a joint venture agreement with the US Caterpillar company NC2 Global LLC (hereinafter referred to as “NC2 Companyâ€) in the “Zhongzhongka Joint Venture†joint venture agreement. The United States Navistar Corporation signed the "engine joint venture project."
According to the agreement, JAC will use the advantages of the US company to develop medium-heavy trucks (short for medium trucks and heavy trucks) and engine business. Zui Yanan, chairman of Jianghuai, believes that this will consolidate the business of JAC's commercial vehicles and help Jianghuai become the top three global commercial vehicle companies as soon as possible. However, the fact that the capacity of medium-heavy trucks is not strong has always been a shortcoming that Jianghuai has been unable to conceal. Chairman Zuo Yanan hopes to use foreign cooperation to wipe out the gap with his opponent as soon as possible.
End "no joint venture era"
At the signing of the joint venture agreement, a group of blonde foreign guests was welcomed in the conference room of China World Trade Center. This team of 50 to 60 people sat neatly on the right side of the conference room. It was a high-level representative from the NC2 and Navistar companies in the United States. This is the partner of Jianghuai Automobile.
Recalling the current high-end technology of the entire commercial vehicle industry, a wide range of Japanese and German-based car companies, but it also makes the market's products inevitably appear homogeneous. In this regard, Jiang Yan, chairman of Zuo Yanan chose a new road. In the joint venture and cooperation between the medium and heavy trucks and engines initiated by JAC, the company chose another company to create a precedent for China-U.S. cooperation in the field of medium and heavy trucks in China. The end of JAC's era of no joint ventures.
Although the industry knows little about US companies that cooperate with Jianghuai, in fact, these two companies have come a long way. Navistar is one of the top 500 companies listed in New York. The world-renowned mid-size, heavy-duty truck and school bus manufacturer, which accounts for about 20% of the North American heavy truck market, can meet the most stringent emission standards. The sales of medium-sized diesel engines are among the highest in the world. NC2 is a joint venture company of Navistar Corporation, which has strong capabilities in diesel engine technology and international network resources.
According to the contract, Jianghuai and two U.S. companies set up a joint venture company to produce medium- and heavy-duty trucks and diesel engine products. The percentage of equity of the partners in the two joint ventures is 50%. The total amount of this cooperation is 4.8 billion yuan (3 billion yuan). Heavy truck investment and 1.8 billion yuan in engine investment. After the completion of the investment, the two joint ventures will each form an annual production capacity of 80,000 medium and heavy trucks and 250,000 diesel engines.
“The timing of the selection of the Jianghuai joint venture project is appropriate,†said Xia Shu, a car commentator. “In the next three to five years, the Chinese heavy truck market will face two technological innovations. One is to upgrade emissions to Euro IV and the other to Euro 5. External forces can help Jianghuai more smoothly pass the threshold of emission upgrading.†He believes that JAC will be able to change the medium-heavy-duty card industry in China that is often monopolized by German and Japanese technology if it can make good use of the advanced technologies of US car makers. pattern.
Joint venture products still use Jianghuai brand
Although JAC started with commercial vehicles, the market has a good reputation, but it is indeed an indisputable fact that the heavy truck business is not strong. The JAC heavy-duty truck business started in 2004 was the introduction of South Korea's Hyundai heavy-duty truck chassis technology. Its price is higher than that of similar models, ranging from 30,000 to 50,000 yuan, resulting in sluggish sales. Although JAC and the modern technology parted ways in 2007, the performance is still not satisfactory.
In 2008, JAC heavy truck sales ranked 9th in the industry. In the first half of last year, it fell 26% year-on-year. In the first half of this year, although sales volume of JAC heavy trucks increased by 136% year-on-year, compared with the market size of 600,000 vehicles, the sales of JAC's 13,000 vehicles still ranked lower. Xia Shu believes that the lack of core technology is the reason why Jianghuai Middle and Heavy Trucks has fallen into the third tier.
Perhaps after seeing the failure of too many domestic commercial vehicle projects, Zuo Yanan repeatedly stressed during an interview with the Times Weekly reporter at the conference and privately: “We will not use a technology-for-market joint venture, as it is doomed not to Success.†This also makes Jianghuai’s joint venture project different from the past. The joint venture company’s R&D target is Jianghuai’s medium-heavy truck product and will use the JAC brand.
Zuo Yanan announced at the press conference that Jianghuai will get real advanced technology from foreign partners. "The joint venture company has advanced diesel engine key parts and components technologies, and masters comprehensive engine core resources, will accelerate the vertical integration of JAC commercial vehicles, and can effectively solve the bottleneck of technological upgrading of JAC's light trucks, medium trucks, and heavy truck core components."
Zuo Yanan disclosed to reporters privately that such a cooperation model is a need for the internationalization of enterprises. In fact, he has always had the ambition to create Jianghuai into a world-class brand. From a global point of view, it is also a major trend in the automotive industry that the entire vehicle companies develop their own engines. Toyota, Volkswagen, Daimler and other auto giants have their own engine plants. At present, in the wave of domestic mergers and restructuring of the automotive industry, having core technology is also a foothold for companies to become bigger and stronger.
In addition to being able to obtain business support for products, technologies, and management models in the field of medium- and heavy-duty trucks, Jianghuai chose to cooperate with Navistar for its sales network. Because according to the agreement, JAC can use Navistar and NC2's sales network to expand North American and global markets.
Nissho Securities analyst Liu Bing told reporters that with the cooperation between the two sides and the heavy truck product volume, JAC gradually realizes that the engine of heavy-duty truck products can reduce the company's costs and improve the product's overall competitiveness. It is reported that this joint venture project does not include the introduction of Navistar's entire vehicle products, and has avoided the shortcomings of previous Sino-foreign joint ventures in the commercial vehicle sector.
Blood donor vehicle project
The Chief Minister of the Jianghuai Automobile Market, Cui Yizhang, once publicly stressed that commercial vehicles are still the cornerstone of JAC: “Commercial vehicles are the core business of JAC, and passenger cars are strategic businesses.†But it is undeniable that JAC is realizing that it is from purely commercial vehicles. The company has spent a lot of resources in the transition to comprehensive automobile companies including passenger cars and commercial vehicles. In fact, the JAC sedan project has not yet achieved profitability. The commercial vehicle project has been acting as a cash cow.
“If the 10-year export agreement signed with Brazil can be completed step by step next year, the Jianghuai passenger car project will be a delight to begin with.†But in fact, in the fierce global competition environment, whether the agreement can be completed is full of many Determine the factors.
According to the “Twelfth Five-Year Plan†developed by Jianghuai, after five years, Jianghuai will become a large-scale automobile group with annual production and sales of 1.5 million vehicles, of which the commercial vehicle aims to reach 40% of the annual production and sales, and 60% of passenger vehicles. According to statistics, Jianghuai Automobile sold 320,000 vehicles last year, including 120,000 passenger vehicles. Zuo Yanan’s expectations for passenger vehicle projects are also clear. No one doubts that the passenger car project is a money-burning business, and JAC needs continuous funding to support its development plan.
Zuo Yan'an privately disclosed to the Times Weekly reporter that this is a "retreat advancement" strategy. "Through cooperation with U.S. companies, more funds and resources will be released and passenger car projects will be completed." Zuo Yan'an said.
In fact, Zuo Yan'an said that this process has waited more than two years since he sought cooperation with foreign companies to strengthen commercial vehicle projects. "We have undergone cultural integration and technical communication. From the current perspective, cultural integration is critical."