On January 26, Dongfeng Motor Group Co., Ltd. (Dongfeng Group) and Sweden ABVolvo (Volvo Group) formally signed an agreement in Beijing to establish a strategic alliance with capital as a link and jointly commit themselves to the development of the world's leading “Dongfengâ€. Branded commercial vehicle.
Mr. Zhu Fushou, Executive Director and President of Dongfeng Motor Group Co., Ltd. and Mr. Joachim Rosenberg, Executive Vice President of Truck Sales and Joint Ventures of Volvo Group, signed the basic agreement for cooperation on behalf of the two parties. The two groups formally established the world's largest strategic alliance for commercial vehicles, and will jointly develop the world-leading commercial vehicle business through complementary advantages, resource sharing, and business synergy to develop the “Dongfeng†brand commercial vehicle into a global reputation. The brand and further consolidation of the Volvo Group's global leadership are common goals.
In the earlier period, Dongfeng Group repurchased medium- and heavy-duty commercial vehicle business and assets from Dongfeng Motor Co., Ltd., a joint venture with Nissan Motor Co., Ltd., and most of its business and assets will be transferred to the new Dongfeng Commercial Vehicle Company established by Dongfeng Group and Volvo Group. Dongfeng Group and Volvo Group hold 55% and 45% of the shares respectively. The board of directors of the new Dongfeng Commercial Vehicle Company is composed of 7 members, of which Dongfeng Group appoints four, Volvo Group appoints three, Dongfeng Group appoints a chairman and general manager, and Volvo Group appoints a deputy chairman.
The new Dongfeng Commercial Vehicle Company will develop, produce and sell "Dongfeng" brand vehicles. Products cover medium and heavy trucks, passenger cars, special vehicles and chassis, engines, gearboxes, etc. The new Dongfeng Commercial Vehicle Company will use the technology and expertise of both parties to continuously upgrade and upgrade the product platforms of medium- and heavy-duty commercial vehicles, comprehensively upgrade the commercial planning and R&D capabilities of Dongfeng Commercial Vehicles, and build a world-class advanced commercial vehicle technology center. And the product planning system to build overseas manufacturing systems and overseas sales bases that meet the needs of overseas strategies.
With the development of global economic and technological integration, it has become a new trend for the rapid and healthy development of the global automotive industry to strengthen cooperation among global auto companies, build alliances, and increase resource utilization. Dongfeng Group and Volvo Group have a long history of commercial vehicle development, rich manufacturing experience, and well-known brand trademarks. The alliance between the two groups is a strong alliance between the strong and the strong.
Dongfeng Commercial Vehicle Co., Ltd. is the foundation of Dongfeng's development. After more than 40 years of development, Dongfeng Commercial Vehicle has become one of the largest and most comprehensive commercial vehicle companies in China. Dongfeng's medium- and heavy-duty commercial vehicle business has maintained its leading position in the industry. Dongfeng strives to strengthen and expand the Dongfeng brand commercial vehicle business and regards “China’s east wind and the world’s east wind†as its development vision. In the Chinese market, sales of medium and heavy-duty commercial vehicles of the “Dongfeng†brand have ranked first in the domestic industry for nine consecutive years, and they are in a leading position in the world.
Dongfeng Group regards building a “sustained development for centuries as its east wind, facing the world's internationalization and developing itself in an open manner†as its corporate vision, and proposes to promote independent development in opening up and cooperation, and adhere to open cooperation in independent development. Further utilize global resources, gather wisdom from all parties, and accelerate the development of the company's internationalization.
At the signing ceremony, Mr. Xu Ping, chairman of Dongfeng Motor Group Co., Ltd., said that through the establishment of a strategic alliance for commercial vehicles, the two parties will achieve a win-win situation. More importantly, they must speed up the commercialization of Dongfeng brand commercial vehicles to the international level and comprehensively enhance Dongfeng commercial vehicle business core competitiveness.
Mr. Olof Persson, President and CEO of Volvo Group, said that Dongfeng Group is a cooperative partner we have known for many years and we greatly appreciate their management team and product line. Through cooperation, the advantages and synergies of both parties will be brought into play to further enhance the international competitiveness of the Volvo Group.
Under the current situation of “micro-growth†in the Chinese auto market, the strategic alliance established between Dongfeng Group and the Volvo Group has broken the traditional mode of simple joint ventures and accelerated the pace of Dongfeng’s independent development and internationalization. In Dongfeng Group's “Dry†D300 plan issued by Dongfeng Group in 2011, the Dongfeng Group Dongfeng brand commercial vehicle will achieve an annual sales volume of 1 million units in 2016, and the strategic alliance will contribute to the implementation of this strategic plan. At the same time, Dongfeng Group needs to achieve its international development strategy and needs the most advantageous mid- and heavy-duty commercial vehicle business to go out first. Dongfeng Commercial Vehicle pursues not only its leading position in sales, but also its leading position in brand value. It is also the continuous leading of the Dongfeng brand commercial vehicle to the international market.
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