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In recent times, Volvo Group's activities in Asia have become more frequent. For Volkswagen, China’s largest automotive market, Volvo has become more active: China's financial business has entered China, China’s Traffic Accident Research Center project has been launched, and Dongfeng Motor has negotiated with them.
All business enters China
On August 31 last year, the Volvo Group announced that its wholly-owned auto finance company in China has been officially approved by the China Banking Regulatory Commission (CBRC), which began its formal operations in the third quarter of 2006.
At this point, "all of Volvo Group's operations have entered China, and are ready to make a success in this increasingly important market." said Jorma Verona, vice president and deputy chief executive officer of Volvo Group.
It is worth mentioning that Volvo Car Finance (China) Co., Ltd. is the first branch of Volvo Financial Services in Asia and the first auto finance company in China to provide financial services to commercial vehicles and construction equipment. From this, Volvo’s emphasis on the Chinese market is evident.
It is understood that in the initial stage, the new company will provide product financing services to customers of Volvo Group's business units including Volvo Trucks, Renault Trucks, Volvo Buses, Volvo Construction Equipment and other companies, and will launch inventory financing to Chinese customers at a later stage. Financial services. In order to improve the coverage in China as soon as possible, Volvo Finance plans to arrange regional representation in organizations throughout the country for Volvo Group's business companies. And "We will provide tailor-made financial solutions to Chinese customers" is the promise of new financial companies to Chinese consumers.
Not only is Volvo's automotive finance business, but also its construction equipment business is making great strides in China. Its acquisition of China Shandong Linggong Construction Machinery Co., Ltd. is the best proof. At present, the investment has already passed various approvals from relevant Chinese authorities.
Cooperation with Dongfeng and Nissan
Future development geometry?
In January of this year, Volvo released a message: It is negotiating with China's Dongfeng Motor Group Co., Ltd. and Japan's Nissan Motor Co., Ltd. on the cooperation matters involving the Volvo Group's joint venture with Dongfeng Motor Group and Nissan Motor Co., Ltd. - - Dongfeng Motor Co., Ltd. investment in heavy and medium commercial vehicles.
However, no conclusion has been reached on this negotiation. In order to make a breakthrough in the cooperation negotiation, Dongfeng Motor Group and Nissan Motor Company, Dongfeng Motor Co., Ltd. and Volvo Group respectively signed a non-binding framework agreement. The agreement agreed that the Volvo Group will invest in heavy and medium-duty commercial vehicles, engine business and future engine business, while Nissan Motor will continue to cooperate with Dongfeng Motor Group for a long time and commit itself to the business of passenger cars and light commercial vehicles.
Just two months later, on March 25th, the Volvo Group completed the acquisition of Japanese truck manufacturer Nissan Diesel. As a result, Dongfeng Nissan Diesel, a joint venture between Nissan Diesel and Dongfeng Motor Group in Hangzhou, will inevitably be inextricably linked with Volvo.
"From a legal perspective, Volvo and Dongfeng Nissan Diesel have already had a cooperative relationship," said Yoma Halone, vice president and deputy chief executive officer of the Volvo Group, in an interview with a reporter from the China Economic Times.
What will be the result of the cooperation between Volvo and Dongfeng? Yoma stated that it is still too early to make a conclusion. "The details of the cooperation with Dongfeng should be internally digested. However, it is certain that the business focus of Volvo's commercial vehicles in China will still be in line with the global strategy, mainly in the medium and heavy trucks as well as medium and heavy passenger vehicles."
When a reporter asked whether Volvo had any other intentions of cooperation in China in the future, Jorma joked to reporters: "In order to complete the acquisition of Nissan Diesel, Rigaku, and Ingersoll Rand, we have already completed it within three weeks. It took 23 billion Swedish kronor to spend, and if it was a lady buying things, it would be very enjoyable to spend money unfettered. For the Volvo Group, we are very satisfied with the continuous acquisition. "However, Yoma is still very serious Said, "If there are suitable projects, such as trucks, construction equipment or engines, our cooperation is still open at any time."
A Rational View of the Chinese Automobile Market
In Joma’s eyes, the development of the Chinese automobile market is very similar to that of Brazil. "Initially everyone was very enthusiastic and wanted to do the best, but the final result was that production exceeded demand." Yoma did not blindly applaud the Chinese auto market. He said, "I support the Chinese government very much. The decision was made by internal adjustment and integration in terms of production capacity."
Yoma believes that in the future, China’s automotive products will not only have a large market in China, but also have an international stage. Of course, the current technical requirements of the market for automotive products are getting higher and higher. If China's automotive products want to go global, then product technologies must first meet international standards.
When it comes to technical requirements, Yoma emphasized environmental technologies. How to reduce energy consumption and how to reduce pollution emissions are all challenges that automobile manufacturers must face.
It is understood that in 2008, the Chinese government will implement Euro IV emission standards in some cities. This shows that the government is paying more and more attention to the environmental pollution caused by automobiles. However, in Joma's view, the attention of governments of various countries to the environmental protection issues in the automotive industry is still not enough. He called on all governments to put environmental protection technology on the agenda as soon as possible and enter the executable level.
For the Volvo Group, the "environmental protection concept" has been through its 80 years of growth. Volvo was the first company in the world to launch a hybrid solution for heavy-duty vehicles such as trucks and buses. According to reports, this hybrid solution can save energy by 35%. Its key part is called I-SAM, and it is a combination. Start the motor, drive the engine and generator. The I-SAM works with an automatic transfer mechanical gearbox. This device was independently developed by the Volvo Group. It has an electronic control unit, an ordinary diesel engine and a battery, and the battery is charged by the brake energy. Hybrid power is used in parallel with the diesel engine through an electric motor to drive the vehicle. The use of this method can increase the hybrid driving force. The I-SAM can also provide enough power to start and accelerate heavy vehicles to a certain speed without reducing the noise of the vehicle without using a diesel engine.
Jorma believes that from the current situation, the Chinese government has begun to realize the importance of environmental technologies in the automotive sector, and Volvo has the ability to bring these core technologies to China.
Finally, Yoma talked about China's car exports. "In China, there are two ways to export automobiles: one is that international manufacturers produce in the domestic market, that is, international brands are manufactured domestically, and then exported; the other is that local companies manufacture products and then export. However, the export of local companies will encounter To two challenges, one is how to establish a brand image; the other is how to establish a sales network overseas. In order to gain a firm foothold in the international community, we must first solve these two problems." He said, "Anyway, I believe that China The automobile products will one day go to the world, just like the automobile companies in Japan and France. Although it takes a few years to brewing in the middle, it will eventually make a difference in the global automobile market."