Formerly known as Volkswagen Truck & Bus AG, Traton Group and CNHTC Group of China has declared about its future alliance.
Sinotruk and MAN have been functioning jointly since 2009 and have decided to expand this collaboration by creating a joint venture to evaluate technology and intensify procurement cooperation and localizing MAN heavy duty truck in China. MAN holds a 25% stake in Sinotruk, which is one of the big names on heavy duty truck makers in China.
Traton AG CEO and also the member of the Volkswagen AG Management Board for CV, Andreas Renschler said, “Sinotruk is amongst the potential player in heavy duty market of China. The current concern the transportation segment is witnessing needs dual forces or alliances. Digitization, regulation, and increasing transport volumes need flexibility and change. However, to transform these challenges into opportunities partnerships is the only solution.
Cai Dong, Chairman of Sinotruk, said, “The collaboration with MAN has been always very satisfying. MAN technology has been an important success factor in the heavy duty segment. Therefore, we hope cooperation between our companies. We are confident to expand which will enable us to achieve new successes.”
Joachim Drees, CEO of MAN SE, as well as the MAN Truck & Bus AG and member of the management at Traton AG, said. “We are proud of our cooperation with Sinotruk. The collaboration has been very profitable for both parties. So, it is logical to see how we can benefit from our common resources, and our new plans begin to take shape together, such as MAN. We are looking forward to increasing our cooperation.”
The project to set up a joint venture between MAN and Sinotruk forms the core of this growing collaboration. With the support of the new joint venture, MAN is planning to establish a heavy truck market in China, the world’s largest truck market.