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“Dongfeng and Volvo have established a joint venture company and our vision is to become the most competitive commercial vehicle alliance in the world.†Zhu Fushou, executive director and president of Dongfeng Co., Ltd. expressed great expectations for the "marriage" between Dongfeng and Volvo. He hopes. Dongfeng Volvo has become a frightening company in the global commercial vehicle sector.
On January 26, Dongfeng Motor and the Volvo Group formally signed an agreement to establish a strategic alliance based on capital and jointly produce medium and heavy trucks. Unlike previous joint equity companies established in China, the joint venture between Dongfeng Volvo and the two parties respectively holds 55% and 45% of the equity interest in the new company. The new joint venture company will produce Dongfeng brand commercial vehicles with the Shuangfeiyan logo.
Zhu Fushou stated: “Dongfeng Group has played a big game for its own brand, and the important piece is the Dongfeng Volvo project. Dongfeng wants to achieve an international development strategy and needs the most advantageous medium- and heavy-duty commercial vehicle business to go out first. â€
Origin
Dongfeng has always been in a strong position in the domestic commercial vehicle market, and it can be regarded as a pity with Volvo. The interpretation of the Dongfeng Deputy General Manager Tong Dongcheng means that both parties value each other very much. The reason is that Volvo is located in northern Europe, with a remote location and poor geographical environment, but it can create a world-renowned commercial vehicle brand; China is also a region with poor environmental conditions. It seems that this may be the underlying cause of cooperation.
Reviewing the joint venture between Dongfeng and Volvo can be traced back to 7 years ago, when the two parties entered a business negotiation period for the joint venture. In the past seven years, Dongfeng Commercial Vehicle has developed into a commercial vehicle company with the largest domestic sales volume and market share. According to the latest financial report, in 2012, Dongfeng Commercial Vehicle Co., Ltd. achieved sales of nearly 180,000 heavy trucks, and continued to maintain a market share of 20% of domestic heavy trucks. In contrast, Volvo’s joint venture with China National Heavy Duty Truck failed and entered the Chinese market twice. It also hopes to reduce costs and increase competitiveness through localization.
According to Xu Ping, chairman of Dongfeng Motor, Dongfeng has a production and supporting system and Volvo has technology and global resources. The Dongfeng Group, which started with commercial vehicles, has a natural advantage and has also become the basis for cooperation between the two sides.
It is worth noting that among the newly established 7-member board of directors of the joint venture company, Dongfeng Group holds four important positions such as chairman and general manager, and has absolute power of voice and dominance.
To this end, Zhu Fushou told reporters that through the joint efforts of both parties, a strong strategic alliance based on capital bonds was established. In the future, the new company will focus on the development of the Dongfeng brand medium- and heavy-duty commercial vehicle-related business. The brand is licensed by Dongfeng Motor to the new company.
Speed ​​up
As early as 2011, Dongfeng Motor released Dongfeng's own brand "Dry" D300 plan, which plans to realize the annual sales volume of 1 million vehicles for the Middle East Wind brand commercial vehicle in 2016, and the establishment of a strategic alliance will undoubtedly contribute to the smooth implementation of this plan.
Judging from the development plan, Dongfeng Commercial Vehicles will use both technologies and expertise to continuously upgrade and upgrade the product platforms of medium- and heavy-duty commercial vehicles, develop new models, build a modular and standardized product platform, and comprehensively upgrade Dongfeng Commercial Vehicles. Commodity planning and R&D capabilities, building a world-class advanced commercial vehicle technology center and commodity planning system.
“Dongfeng has never closed its doors to independence.†Zhu Fushou frankly stated that Dongfeng always insists on promoting independent development in opening up and cooperation, and insists on open cooperation in independent development. In the future, Dongfeng and Volvo Group will conduct research and development synergy and put Dongfeng Commercial Vehicle into consideration. The Technology Center has become a world-class advanced R&D center and has set up R&D centers in Europe.
Overseas breakthrough
Strong and strong, the purpose of Dongfeng is very obvious in order to reach the global market. Xu Ping said that the Dongfeng brand commercial vehicles must go international, not only need the support of products and brands, but also need to build the basis of technology and channels. "The alliance will share product platforms, manufacturing resources, supplier resources and international sales channels, expand the Dongfeng medium and heavy commercial vehicle business overseas market, enhance the Dongfeng brand value and status, and develop the Dongfeng brand into the world's top three commercial vehicle brands. â€
According to the Dongfeng Overseas Medium-term Business Plan “DH310 Planâ€, the number of Dongfeng overseas exported automobiles will reach 300,000 in 2016, of which overseas exports will account for 10% of the total sales volume of own brands. However, the current figure is that the total export of Dongfeng Motor in 2012 was only 80,000 vehicles, which means that the export of Dongfeng Motor must be achieved by leaps and bounds in the next three years.
Although Dongfeng Commercial Vehicles leads the sales volume in the domestic market, its performance and achievements in overseas markets are not ideal. To achieve breakthroughs, we must rely on external forces. "With Volvo's global resources, Dongfeng Commercial Vehicles will form a strong support for entering the overseas market," said Zhu Fushou.
It is understood that the objective of Dongfeng Commercial Vehicles in 2013 is to “contrary to the trend†while falling in the large market, while Libao’s sales and market share of heavy-duty trucks is not lower than that of 2012, which is no less than 180,000 vehicles and 20% respectively, and will continue to be maintained. The industry first.
It is undeniable that according to the current market prospects, Dongfeng Commercial Vehicles has a long way to go to break the predicament of domestic and foreign markets. After all, the alliance of Dongfeng Volvo has only just begun, combining the resources of both sides to create and form new ones. The competitive advantage is enough to allow Dongfeng commercial vehicles to sprint overseas capital.