On January 29 this year, in Berlin, Germany, Beiqi Foton and Daimler signed a "Commercial Vehicle Cooperation Agreement." The two sides decided to establish a joint venture company in China / heavy truck - Beijing Futian Daimler Automotive Co., Ltd. What impact will this move have on the future pattern of China's commercial vehicle industry?
China's commercial vehicle industry status quo
From this, it can be seen that Dongfeng, FAW and China National Heavy Duty Truck Group are the undisputed top three in China's commercial vehicle industry, whether they are ranked according to the total sales volume of medium- or heavy-duty trucks or the rankings of heavy truck sales. Beiqi Foton is a commercial vehicle company mainly engaged in the production of light vehicles (light trucks, light passengers). Therefore, although Futian people often take pride in the sales and sales volume of domestic commercial vehicles, they are rarely referred to as commercial vehicle giants. It has not been included in the first phalanx of domestic commercial vehicles.
Major enterprise core assembly resources
As we all know, the body (cab), engine, axle and transmission are the four core assemblies of commercial vehicles. These four major assemblies are not only of high importance, but also have high added value. Therefore, for auto companies, the self-control of the four major assemblies and the degree of technical control are often the primary indicators to measure the strength of their competitiveness. In the commercial vehicle industry abroad, especially European commercial vehicle giants such as Daimler, Volvo and Mann, these four core assemblies are almost 100% self-manufactured and have completely independent intellectual property rights. In the domestic commercial vehicle industry, the current situation is: Because the body is a symbol of the product brand, all manufacturers are self-made; the engine's profit margin and the highest added value, the main commercial vehicle companies are based or strive for self-control; for axles, transmissions, With the exception of a few manufacturers, they generally use social resources.
Obviously, compared with the top three commercial vehicles, especially with China National Heavy Duty Truck, Beiqi Futian medium- and heavy-duty truck engines, axles and transmission resources are seriously lacking, not only do not have three major assembly of homemade manufacturers, holding manufacturers of products The amount of application is also very small, mainly relying on social resources.
Main business main business income, profit status
Although Beiqi Futian's leading products, light trucks (light trucks, light passengers), have low profit margins, they are large in volume. Therefore, compared with the top three commercial vehicles, the sales revenue and profitability of Foton are not bad, which is comparable to that of FAW Liberation. Dongfeng Commercial Vehicle Co., Ltd., which lacks large core assembly resources, is better, but it is worse than China National Heavy Duty Truck, which has almost all self-manufactured three core assemblies. The gap between profit and per capita profit is significant.
Three dominant and four strong front
It is said that the success of the cooperation between Daimler and Beiqi Foton is very complementary to both parties and will help both parties to jointly explore domestic and foreign markets so as to achieve a win-win strategy. Daimler can provide Fukuda with strong operational management, technical R&D, and global sales network support to provide insurance for Futian’s overseas investment; Futian’s advantages in terms of product resources and cost control for economical commercial vehicles will also help Daimler expands its share in emerging markets. Different from other joint venture companies, Daimler and Foton have taken a new step. The Chinese joint venture company is the operation center of the global cooperation business of the two parties, ie, the management decision, R&D, production, and supply chain of the global cooperation business of the two parties. Management, marketing management and other centers. The Auman brand heavy trucks produced by future joint ventures can be sold overseas through Daimler's sales system; at the same time, the 13L Mercedes OME 457 engine introduced by Foton can be locally made and assembled on the high-end Auman heavy trucks, thereby enhancing Auman’s heavy trucks. The competitiveness of China and emerging markets will eventually realize the complementarity and benefit-sharing of both parties in the domestic and foreign markets.
With the establishment of Beijing Foton Daimler China Heavy Truck Joint Venture Co., the pattern of China's commercial vehicle industry FAW, Dongfeng and Sinotruk's top three separatists may change, and Beiqi Foton is likely to enter the Chinese commercial vehicle industry for the first time in three years. The phalanx, that is, the Chinese commercial vehicle industry, will be transformed from the top three to the top four.
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