Before this, Jiangling Motors disclosed the purchase of Taiyuan Heavy Duty Truck and entered the heavy truck market. Recently, Ford Motor officially announced that its Jiangling Motors Co., Ltd., which holds 30% of its shares, has acquired Taiyuan Heavy Duty Truck. This confirms Ford’s speculation on the launch of China’s heavy truck strategy through Jiangling.
In May last year, China Chang'an Group confirmed that it will build a joint venture with Ford for heavy trucks. The two parties will establish a new joint venture company based on Changan Holdings’ Taiyuan Zhongqi and expand the Chinese heavy truck market. However, this plan was eventually repaired as a way to get through Jiangling and start the two sides' heavy truck strategy.
For Changan and Ford, the heavy truck is a project where both parties need to make up classes. Among the four major automobile groups, heavy trucks are a weakness of Chang'an. In the past two years, Ford has implemented aggressive expansion plans for passenger cars in China, relying mainly on the Changan Ford joint venture carrier. Jiangling Motors has been positioned by Ford as a carrier for light commercial vehicles. However, as the world’s largest heavy truck market, China’s Ford, who pursues a radical Chinese expansion strategy, apparently does not want to remain a bystander.
Ford doesn't want to stand by in China's heavy truck market. "The investment in heavy trucks is huge. Changan's investment pressure is too great. It is good to transfer it to Jiangling," said automobile analyst Cui Dongshu.
According to a person from China Chang'an, Jiangling is a carrier of cooperation between Changan and Ford. It also has a heavy-duty basis for Qingling, so it eventually used Jiangling to develop heavy trucks.
But this is Chang'an's latest internal integration work. After Chang'an acquired Taiyuan Zhongqi, the operation did not show much improvement and it failed to complete the original three-year development target. According to statistics, the total assets of Taiyuan Zhongqi as of the first quarter of this year were 790 million yuan, while the net assets were only 250 million yuan. The loss in 2011 was 140 million yuan. The loss in the first quarter of this year was 73.09 million yuan, and the final transfer price was 269 million yuan. .
After Jiangling Motors purchased Taiyuan CNHTC, it will be able to quickly enter the heavy truck market and expand its development space. From the perspective of Changan and Ford, it is also possible to better integrate the cooperative relationship. The heavy truck project that is based on Jiangling Motors with better foundation will not only be able to revitalize the resources of Taiyuan CNHTC, but also facilitate Ford's smooth development of the heavy truck business, which is beneficial to the development of all parties.
According to reports, Taiyuan Heavy Duty Truck will introduce Ford's technology and products in the future. According to Chang'an sources, of the 15 new products introduced to China before 2015, Ford plans to include commercial vehicle products.
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