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China National Heavy Duty Truck will build a southwest commercial vehicle base in Chengdu. On August 23, Sinotruk (Hong Kong) Co., Ltd. signed a cooperation agreement with Chengdu Trumpchi Group Co., Ltd. According to the agreement, both parties will jointly invest in Chengdu to establish "China Heavy Truck Group Chengdu Ace Commercial Vehicle Co., Ltd." to develop heavy, medium, light and micro full range of commercial vehicles and other automotive products business. China National Heavy Duty Truck will invest in Chengdu Trump with capital increase. Among which, Sinotruk holds 80% of shares and Chengdu Trump holds 20%. China National Heavy Duty Truck recently invested 1 billion yuan and its long-term investment was 3 billion yuan.
The joint venture partners will give full play to their respective advantageous resources and build the joint venture company into a domestically important commercial vehicle base with an annual output of 400,000 commercial vehicles. The two sides will introduce advanced heavy and medium card products and technologies from China National Heavy Duty Truck and upgrade the existing mature products of Chengdu Trump. At the same time, they will establish high, medium and low-end product lines and industrial chains. In 2011, it first launched 100,000 Taichung and heavy truck projects; by 2015, it will strive to achieve the goal of 100,000 heavy trucks and 300,000 light and micro-cards.
The leading products of Chengdu Trump are light, medium and heavy-duty vehicles, special-purpose vehicles and low-speed trucks, with an annual production capacity of 80,000 vehicles. "Trump" car has become a brand-name product in Sichuan, with sales outlets in 29 provinces and autonomous regions nationwide, and more than 400 dealers and more than 300 maintenance service outlets.
Prior to this, China National Heavy Duty Truck Group had successfully reorganized Guangxi Liuzhou Yunli Special Purpose Vehicle Factory, Hubei Huawei Special Purpose Vehicle Factory and Datong Automobile Gear Company, and established a joint venture dedicated car company in Mianyang, Sichuan Province. Through acquisition and integration, CNHTC will develop from a single heavy-duty vehicle manufacturer to a full range of commercial vehicle manufacturers.