Recently, the reporter learned from Jianghuai Automotive that the company will spin off its heavy commercial vehicle business from a commercial vehicle company and establish a heavy-duty commercial vehicle company. The original commercial vehicle company was renamed as a light commercial vehicle company. Jianghuai said the move is "to meet the company's strategic development needs, further strengthen the professional operation of heavy commercial vehicle business capabilities, and promote the realization of strategic objectives."
Given that the joint venture between Jianghuai and Navistar has not been approved by the Development and Reform Commission, the reporter believes that the establishment of a special heavy-duty commercial vehicle company at this time is likely to be a joint venture project.
At the beginning of last year, the joint venture between Jianghuai and Navistar was reported to the NDRC, but it has not been approved. However, both parties have achieved results in the joint venture of the engine project. In September last year, Navistar signed a joint venture agreement with JAC to develop, manufacture and sell advanced diesel commercial engines and advanced commercial vehicles. In order to promote the development of the project, Navistar appointed the experienced and fluent Chinese-language RUDI VON MEISTER to lead Navistar's business development in China.
However, until the end of last year, joint venture projects have not been approved by the Development and Reform Commission. However, the enthusiasm for cooperation between the two sides has not diminished. During this year's Beijing Auto Show, Navistar signed a non-binding letter of intent with JAC Motors, announcing that it will expand the scope of cooperation. Both parties will carry out new cooperation in the commercial vehicle sector, design, develop, manufacture and distribute school buses for the Chinese market, and export JAC light trucks to Brazil via Navistar dealers. At the same time, the new cooperation also includes the export of Chinese commercial trucks to Brazil.
The current downturn in the heavy-duty truck industry and concerns over overcapacity in the heavy-duty truck industry are the major obstacles to the JAC and Navistar's joint venture project being unable to obtain approval from the NDRC. In spite of this, the two sides have already cooperated in the engine areas that are not subject to policy restrictions, and the establishment of a heavy-duty commercial vehicle company this time is likely to open up another passage for the joint venture project.
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