Hino and Guangzhou Automobile Group formed a JV (II)
Guangzhou Automobile Group Co Ltd and Japan-based Hino Motors Ltd launched a joint venture yesterday and began work on a plant in the suburb of Conghua to produce and sell commercial vehicles.
Guangqi Hino Motors Ltd is a 50-50 joint venture that will have two manufacturing bases - one in Guangzhou's Conghua and the other in Shenyang, capital of Liaoning Province.
Guangzhou-based Yangcheng Automobile Co Ltd will be reorganized and a massive production facility set up for "Hino" brand heavy-duty trucks in Conghua. Shenfei Hino Automobile Manufacturing Co Ltd in Shenyang will also be restructured.
Involving an investment of 2.4 billion yuan and covering an area of 1.06 million sqm initially, the new Guangzhou base will specialize in the production and sale of heavy-duty and light-duty trucks.
The new Guangzhou base is expected to be ready in the middle of next year and will initially produce 20,000 heavy-duty trucks and 30,000 light-duty trucks.
The Shenyang base will involve an investment of 700 million yuan and will focus on the production and sale of passenger vehicles.
The joint venture plans to double the annual production capacity of the existing Shenyang base to 4,000 passenger vehicles by introducing new models and increasing investment.
"The commercial vehicle project is expected not only to enrich the product varieties of Guangzhou Automobile Group but also to boost China's heavy-duty truck production," said Zhang Fangyou, chairman of the board of Guangzhou Automobile Group.
"The well-developed auto industry chain, advanced auto manufacturing capacity in Guangzhou and huge market demand from the country's developing logistics industry means rosy prospects for the new joint venture," he said.
As Hino is a subsidiary of Toyota, he said, the joint venture would not dismiss the possibility of introducing other commercial Toyota-brand vehicles.
Shoji Kondo, president of Hino Motors Ltd, agrees.
"China is one of the world's largest markets for heavy-duty trucks - five to six times as big as Japan's," he said. "We are confident of the future success of our cooperation."
China currently imports about 2,000 Hino heavy-duty trucks. The nation's annual market for heavy-duty trucks is expected to reach 500,000 by 2010 and for this year 480,000, sources said.
Views:0
- BYD and Hino Sign a Deal with a Focus on Commercial Battery Electric Vehicle 2020-04-24
- Hino and Toyota to Jointly Develop Heavy-Duty Fuel Cell Truck 2020-03-27
- GAC Hino Upgraded Truck with ZF 16-speed Transmission Gearbox to Hit the Market 2019-05-08
- GAC Hino Signs a Deal With Major Customers in Tokyo 2019-04-25
- 100 Units GAC Hino 8×4 Concrete Mixers Delivered to Dongguan for Operation 2019-03-01
- GAC Hino Heavy-duty Truck Sales Grew 140% in 2018 2019-01-16
- Hino Improves Kenyan Customers Experience with the Brand 2018-10-12
- Reverse Camera to Come as Standard on All Hino Trucks Sold in the Aussie Market 2018-09-29
- GAC Hino Sales Jumped by 148% From January to August 2018-09-26
- VW's Traton Announces JV for Electrified Trucks with Hino 2018-09-25
Submit Your Requirements, We Are Always At Your Service.
- BYD Stopped the Production of Fuel Vehicles
- Geely Began Test Runs of Green E-methanol Vehicles in Danmark
- 2022 SANY Global Dealer Summit Was Held Successfully Online
- BYD and Shell Partner on EV Charging across China and Europe
- Daimler Truck Significantly Increase Sales, Revenue and Net Profit in 2021
- Scania Year-end Report January-December 2021
- Hyundai Motor and Iveco Group Sign MOU to Explore Future Collaboration
- GAUSSIN Enters China, the Largest Truck Market in the World
- Over 1,200 Hydrogen-powered Vehicles Deployed for the Beijing Winter Olympics
- Chinese New Year Holiday Closure Notice
- China's Truck Exports Grew by 30% YOY to 63490 Units in January-February
- China's New Energy Heavy Trucks Grew Despite an Overall Slump
- Heavy-duty Truck sales in China Fell by 54% to 54,000 units in February
- SINOTRUK Achieves Sales of 27,725 Vehicles in January, 2022
- China’s Domestic Tractor Sales Exceed 40,000 Units in January
- 2021 JAC International Pickup Export Performance
- JAC Achieved a Great Result in 2021
- China's Truck Export in 2021 Reached a 10-year Peak
- Heavy-duty Truck Sales in China Fall 57 Percent on Year in January
- China Recorded Sales of 645000 Tractors in 2021
