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On the morning of January 8, the commencement ceremony for the relocation project of Jinan Commercial Vehicle Company, a subsidiary of CNHTC Group, was held in Zhangqiu. It is expected to be completed in July and August, and the company will produce 30,000 heavy vehicles annually in the next year. At this point, China's heavy truck Zhangqiu base has brought together the three major branches of Jinan Power Company, Fuqiang Power Company and commercial vehicle company.
As one of the main units of the CNHTC Group, Jinan Commercial Vehicle Co., Ltd. is mainly responsible for the production of medium-heavy trucks and a full range of complete vehicle parts. It has 8 factories, including assembly plants and transmission shaft plants, and has an annual output of 12,000 vehicles. Its production capacity ranks 7th in the national heavy truck production and sales. In recent years, the company’s main economic indicators have grown at a rate of more than 60% each year, and last year achieved the best results in the production and sales of 8,000 vehicles.
It is reported that the new base will occupy an area of ​​100,000 square meters and a total investment of 800 million yuan. A complete vehicle assembly line with a total length of 450 meters will be completed. The assembly frequency will be increased from the original 15 minutes/vehicle to 5 minutes/vehicle. The production is planned for 2010. Ability to reach 50,000 vehicles.
According to the reporter’s understanding, during the visit of the Deputy Secretary of Shandong Provincial Party Committee and Governor Han Yuqun to CNHTC Group on January 1st, CNHTC Senior Executives once again mentioned the overall listing of Hong Kong and requested the Shandong Provincial Government to coordinate and accelerate the relevant approval process. After listing part of the asset curve through the acquisition of Xiaoya Electrical Appliances, CNHTC has been planning to push the group as a whole to other financing markets outside the Mainland, targeting Hong Kong specifically for more than two years. Recent signs indicate that this matter will not be delayed in 2007.
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