"Volvo will not abandon Huawo." On June 3, in the Volvo Group's China office in Sanlitun, Beijing, Volvo China's Vice President Chiang Kai-shek gave a positive reply. In response to the current concerns of the outside world and Dongfeng cooperation, Jiang Hao also disclosed that cooperation was due to the acquisition of Nissan Diesel. This is the first time that Volvo China executives have responded positively to the cooperation between CNHTC and Dongfeng.
With heavy trucks: continue to support Huawo
"Volvo will not open a company with a hot head, a hot head and a company." Jiang Yan firmly told reporters.
Jiang Hao is Vice President of Volvo China Investment Corporation. At present, she has been busy with the integration of Volvo's business in China. From the beginning of 2007 to the present, Volvo completed three acquisitions in Asia, acquiring the Asian operations of Nissan Diesel, Shandong Lingong and Ingersoll Rand respectively.
In China, the Volvo Group currently owns Huawo, Shenwo, Xiwo and Shandong Lingong. Huawo is its heavy truck joint venture, and Shenwo and Xiwo are bus joint ventures. Since the joint venture in 2003, Huawo has been in poor sales. As the situation is not good, the contradictions between the two sides have gradually emerged. From the beginning of last year to the present, Volvo’s withdrawal from Waldorf has not stopped.
"Volvo will not withdraw." Jiang Hao compared Wahworth to Volvo's child. "What we are doing now is to discuss with Sinotruck. How to make Huawo even stronger." "Although it is difficult, it is not impossible Many people who are smarter than me are working hard."
Jiang Hao said that at present, many solutions are still being discussed. The reasons for the failure of Huawo Development to achieve the desired results are comprehensive, including industrial policy restrictions, market changes, and vehicle type selection restrictions. She even called on the government to relax restrictions on commercial vehicles so that technology introduction can be realized faster.
At present, Volvo is the world's second largest commercial vehicle giant. Europe, North America, and Asia are its top three markets. Last year, the growth rate of Volvo in these three major markets reached 15% to 20%. In China, Volvo’s growth last year was more than 200%, but this was mainly due to construction machinery, and in terms of trucks, Huawo's sales were less than a quarter of the expected.
With Dongfeng: Due to Dongfeng Nissan Chai
Since Dongfeng and Volvo have not yet signed a formal cooperation agreement, Jiang Hao is particularly cautious in answering this industry's attention.
“Because Volvo acquired Nissan Diesel and indirectly held shares in Dongfeng Nissan Diesel, there was a cooperation between Volvo and Dongfeng. Even Volvo's cooperation with Dongfeng, Nissan and Renault may be possible.†Slightly vague information. From this information, some clues have emerged.
"It can be said that without Dongfeng Nissan Diesel, there is no possibility of negotiating cooperation so quickly." Chiang Kai-shek refused to elaborate on the ground that "the negotiations are still going on." However, the reporter learned that Dongfeng and Volvo may discuss the greatest possible cooperation on the basis of Dongfeng Nissan Diesel. Both sides increase capital and expand investment to achieve direct cooperation between Dongfeng and Volvo. This “directly†means that Volvo will Renault truck was introduced.
Previously, Volvo has held a total of 96% of Nissan Diesel's shares through multiple holdings. In other words, Volvo is already an indirect foreign shareholder of Dongfeng Nissan Diesel. Dongfeng Nissan Diesel is a joint venture between Dongfeng and Nissan Diesel that invested 600 million yuan in Hangzhou. At present, Dongfeng Nissan Diesel has been included under Dongfeng Limited's commercial vehicle company.
Since Volvo has previously used two joint ventures in the commercial vehicle sector (a total of four commercial vehicle joint ventures are established before the industrial policy, it counts only two), and there is no plan to withdraw from Huawo, so Volvo can only Use the existing Dongfeng Nissan Chai this quota.
One and a half months after the signing of the framework agreement with Dongfeng on January 22 last year, Volvo, which already holds 13% of Nissan Diesel, announced that it will bid for 87% of the other shares. Obviously, the plan to cooperate with Dongfeng by means of Dongfeng Nissan Diesel has long been premeditated.
The reporter learned from Dongfeng's internal knowledge that Volvo, Dongfeng and Nissan discussed in the framework that Dongfeng is investing in the assets of a commercial vehicle company into Dongfeng Nissan Diesel and the new joint venture company's production base is still in Shiyan.
Jiang Hao said that at present, the three parties have not yet reached the level of submitting examination and approval procedures to relevant departments, and the negotiation did not set a timetable.
View related topics: Dongfeng, Volvo wants to cooperate with commercial vehicle business
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