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It is reported that Dongfeng Motor Group Co., Ltd. and Sweden ABVolvo (Volvo Group) joint venture projects have made new progress. Yesterday, the reporter learned from the Dongfeng Group that the project has been approved by the European Union and successfully "defeated" Germany's Daimler to become the world's largest truck manufacturing company.
“This is not unexpected!†Regarding this, the related person in charge of Dongfeng Group said that this project is not the same as Geely’s acquisition of Volvo cars. It is a cooperation between the two parties. According to the regulations, it does not require the approval of the European Union, but this time Dongfeng actively seeks “batchâ€, mainly Prepare for export. "The EU has completed the anti-monopoly review. After the approval, the product will not encounter anti-monopoly issues."
In fact, Dongfeng’s recent series of actions is not difficult to understand the big fee. Cooperating with Volvo in the production of "Dongfeng" brand products, breaking the image of the Chinese "factory foundry" in previous joint ventures, and the joint venture is facing the domestic market. The intention of "borrowing to sea" is obvious. In addition, Dongfeng Group also acquired a 70% stake in automotive engineering company TEngineering AB and inserted the first overseas R&D base in Sweden.
In January of this year, shares of Dongfeng Group and Volvo Group signed an agreement in Beijing. The latter invested 45.6 billion yuan in cash to obtain a 45% stake in the new company. The shares of Volvo Group and Dongfeng Group are the third and second truck manufacturers in the world, which means that the joint ventures of both parties will "beat" Germany Daimler and become the world's number one truck manufacturer.
Huang Gang, general manager of Dongfeng Commercial Vehicle Company, disclosed that the joint venture company is expected to be established and officially launched in the second half of the year.