China National Heavy Duty Truck Group. [Photo provided to chinadaily.com.cn]
China National Heavy Duty Truck Group Co, or Sinotruk, was founded in 1956. In 1960, it produced its first heavy-duty truck — the Yellow River JN150. The company is regarded as being the cradle of the Chinese heavy auto industry. In 1983, the company successfully introduced the Austria Steyr heavy vehicle project, the first enterprise in China to introduce foreign technology in the field of heavy-duty automobile manufacturing. In 2007, it was listed as a red chip on the Hong Kong Stock Exchange. In 2009, it launched a comprehensive strategic cooperation with German vehicle company MAN, in which the company obtained 25%+1 of Sinotruck's stock and Sinotruck introduced MAN's three types of engines, medium-sized trucks, heavy trucks and the corresponding whole-body technology, laying a solid foundation for the long-term development of the enterprise.
Through the vigorous strengthening of international cooperation, the heavy duty truck company adheres to independent innovation. In recent years, it has invested a total of 20 billion yuan ($2.82 billion) in technological transformation and product research and development. At present, it produces heavy, medium, light, special and engineering machinery, forming a whole series of products covering high, medium and low-end patterns. It has evolved into the largest production base for heavy-duty trucks in China.
Sinotruck is building a global network for marketing, services and spare parts. It has established trade and capacity cooperation with many countries taking part in the Belt and Road Initiative. Its products are exported to more than 110 countries and regions and nine overseas factories have been set up in Pakistan, Vietnam, Myanmar, Nigeria and other countries. It has established spare parts centers in 12 countries and regions, covering developing regions in Africa, the Middle East, Central and South America, Central Asia, Russia and Southeast Asia. It has also explored developed markets such as West Europe.
Sinotruck established a sales services network in about half of the countries and regions involved in the BRI among which, the company aims to further its business in Mongolia, Pakistan, Kazakhstan, Russia, Myanmar, Thailand, Vietnam, Saudi Arabia and the United Arab Emirates.
It sold over 300,000 vehicles in 2018 with sales revenue reaching 100 billion yuan. Last year, it exported 36,300 vehicles, accounting for 50 percent of heavy-duty truck exports in China. The company has ranked top in China's heavy-duty truck industry for 14 years. Now, the company is building a full series commercial vehicle group and expects to construct a world first-class brand like Daimler, Scania, Benz and Volvo.
