Commercial vehicle companies link up to go deeper

In May 2023, Weichai Power and BYD signed a strategic cooperation agreement, the two sides intend to take advantage of their respective advantages in the field of new energy to establish a more comprehensive strategic partnership. Five months later, Weichai Fudi Battery Co., Ltd. was established, and the new company's business scope includes battery manufacturing, battery sales, technical services, technical development, technical consulting, technical exchanges, technology transfer, technology promotion, as well as new energy vehicle waste power battery recycling and laddering utilisation.

In September 2023, the intelligent battery manufacturing base project jointly invested by FAW Jiefang and Vision Power was officially signed. The project is expected to invest more than 10 billion yuan, is committed to the research and development and production of heavy trucks, light trucks, mainly power battery and energy storage related products, to build the world's leading commercial vehicle battery manufacturing base, new energy commercial vehicle business model innovation centre, and new energy commercial vehicle exclusive product development incubation base, the planned annual production capacity of 20GWh, the full production is expected to reach 24 billion yuan in annual sales.

In November 2023, Great Wall Commercial Vehicle If Technology Co., Ltd, Great Wall Heavy Industry and Guangxi Yuchai signed a strategic cooperation agreement, the three parties will rely on their respective strengths to carry out comprehensive cooperation in the power system of new energy commercial vehicles and heavy industry products, vehicle development and application, and jointly promote the development of new energy industry. According to the agreement, if science and technology, the Great Wall Heavy Industry and Guangxi Yuchai will focus on commercial vehicle pure electric system, hydrogen energy power system, hybrid special power system and other aspects of technological breakthroughs and product production, and jointly provide product solutions and services to users in the logistics and construction machinery industry.

Commercial vehicle

In fact, since 2022, commercial vehicle industry cooperation, mergers and acquisitions have been frequently reported, including Dongfeng, Foton, China National Heavy Duty Truck, Zhongtong Bus, Weichai Power, Cummins, including a number of commercial vehicles and parts companies. "In the increasingly fierce market competition, the whole and zero enterprises urgently need to warm up, win-win cooperation, through equity transfer, mergers and acquisitions and cooperation to complete the industrial chain reshaping, to stimulate the vitality of the enterprise and the internal power, is not a feasible path." China Automobile Circulation Association Commercial Vehicle Committee Secretary General Zhong Weiping said, from the commercial vehicle industry development trend, technology and cost factors are still affecting the development of the core business drivers, want to overcome this problem, the need for in-depth collaboration upstream and downstream industry chain, in the context of increased market risks, external uncertainties increase, the combination of enterprises through the strong, can get rid of a variety of unfavourable and disturbing Factors, to achieve resource sharing and complementary advantages.