Adjusting business in China South Korea's Hyundai intends to hold Jianghuai Automobile Hyundai Motor will establish a joint venture with Jianghuai Automobile Co., Ltd. This joint venture also means that the joint venture between JAC and Huatai Automobile will end up in the domestic automotive industry after more than two years of high-speed When development entered a period of calm, the Anhui automobile industry was not calm. Hyundai Motor Co. announced on September 8 that it will form a joint venture with China Jianghuai Automobile Co., Ltd. to produce commercial vehicles in China. It is understood that this cooperation, the two companies will hold 50% of the joint venture, respectively, and a total of 780 million US dollars to the joint venture before 2010. The newly formed joint venture will achieve an annual production capacity of 50,000 small commercial vehicle engines, 10,000 buses, and 90,000 trucks by 2010. Jianghuai responded cautiously to the open news of the Hyundai Motor. It seems that Jianghuai Automobile is a little unprepared. The reporter learned from the mouth of Jianghuai relevant person that "this news is not exact at present, it can be said with certainty that JAC AG has not signed a joint venture agreement with Hyundai Motor." However, the person did not deny the intention of JAC and the modern joint venture. Regarding specific progress, JAC’s reply to the reporter is: “Current chairman is still in Korea. When he returns, if there is any exact information, he will promptly release it to the media.†The two sides have cooperated with each other in advance. In fact, Hyundai Motor and JAC have long cooperated. The initial cooperation between the two parties originated in 1998. At that time, the wholly-owned subsidiary of Jianghuai Automobile Co., Ltd., a manufacturer of passenger vehicles in Hefei, signed a contract with Hyundai Motor. It produced modern passenger cars through technology introduction and sold more than 1,000 vehicles in more than three years. . The truly exciting cooperation was three years later when the two signed an agreement again to introduce the H1 compact commercial vehicle. This commercial vehicle named Rui Feng was mass-produced the following year and realized sales revenue of 900 million yuan. In the first five months of last year, 3,060 vehicles have been sold and sales revenue has reached 600 million yuan. The success of this model has greatly enhanced the confidence of modern and further cooperation with JAC. The heavy truck project is also a matter of course. JAC and the modern heavy truck agreement were signed as early as March 2002. According to the agreement, Jianghuai will introduce a total of six models of heavy trucks from Hyundai Motor, which was previously only produced in Korea and has never been exported. JAC invested RMB 300 million for this purpose and set up a production line at the same time as the construction of the production line. The former has a production capacity of 10,000 vehicles and the latter has a designed capacity of 5,000 vehicles. According to a conservative estimate, by 2005 the project will be able to achieve production and sales of 5,000 to 8,000 vehicles. Expert analysis, the introduction of heavy-duty truck projects will enable JAC to form a full range of commercial vehicle product lines. If it can gain market recognition, it will not only gain new profit growth points, but also effectively consolidate and upgrade its second-tier domestic automobile pattern. status. The modern backdoor is now in a difficult situation. The current situation of Hyundai Motor in China is more complicated than ever before. For modern times, this cooperation may be even more important. One fact that does not want to be mentioned by Hyundai Motor is that mid- to high-end heavy trucks have no room for growth in Korea. In the whole year of last year, the sales volume of Hyundai Geerfa series heavy trucks at home and abroad was only 8,000. The relocation of technology or products is undoubtedly the trend of the times, and China is the best choice. Hyundai Motor’s overseas expansion plan has clearly stated that by 2010 Hyundai Motor’s production in China will account for 25%. However, the layout of Hyundai in China is not smooth: After the Guangzhou Peugeot project was defeated, the overall joint venture project with Beijing Automotive was again loved by Dai Ke. According to industry insiders, the biggest problem of Hyundai Motor currently is: Seeking another way out and landing commercial vehicle resources in China as soon as possible. On the other hand, this joint venture also means that the joint venture between South Korea’s Hyundai’s two domestic technology partners, Jianghuai Automobile and Huatai Automobile, will end. Since this is the second joint venture of South Korea’s Hyundai in China, according to the current national industrial policy, the hope of a joint venture between Huatai Automobile and Hyundai has been almost zero. The modern business will be betting on Jianghuai in China, a good show to open.
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