Rui'an Yunding Involves Shaanxi Auto's "Heavy Card"

Rui'an "Genting" is set to launch its first batch of heavy trucks, marking a historic milestone in Zhejiang's automotive manufacturing industry. According to Lin Dekai, Chairman of China Genting Holding Group, the company has partnered with Shaanxi Automobile Group to develop and produce heavy trucks, as well as tap into the East China market. The joint venture will officially start operations in Rui'an this November, with an estimated annual sales revenue of 4 billion yuan within three years. In late 2006, Rui'an "Genting" made history by launching its first medium truck, breaking the long-standing tradition that the region was only known for motorcycles and small vehicles. This achievement not only changed the perception of Rui'an as the "capital of automobiles and motorcycles," but also filled a critical gap in the province’s vehicle production sector. The new company, Shaanxi Automobile Group Genting Automobile Co., Ltd., is a joint venture between the two companies. Shaanxi Auto holds 51% of the shares, contributing brand, technology, after-sales service networks, and cash investments, while Genting owns 49%, focusing on the production of medium and heavy trucks under the brands "Steyr" and "Aolong." Shaanxi Automobile Group, a leading Chinese enterprise and Fortune 500 company, has been at the forefront of producing military off-road vehicles, large commercial trucks, and high-end bus chassis. According to Yuan Hongming, General Manager of Shaanxi Automobile Group, the collaboration stems from strong demand for medium and heavy trucks in Zhejiang and Hebei provinces. With no local heavy truck manufacturers in eastern China, Shaanxi Auto saw an opportunity to establish a base in Zhejiang. Lindauk, a representative from Genting, highlighted that the partnership was based on the complementary strengths of both companies, as well as over 20 years of business relations and mutual trust. The new company will not only manufacture trucks but also serve as an after-sales service hub and a gateway for both parties to expand their presence in East China. The project is planned to be implemented in three phases, with a total investment of 860 million yuan. The first phase will invest 260 million yuan, followed by 300 million yuan each for the second and third phases. By 2011, the company aims to achieve a production capacity of 15,000 medium trucks and 8,000 heavy trucks, with sales reaching 4 billion yuan. By the end of the 12th Five-Year Plan, the company expects to reach annual sales of 50,000 medium trucks and 20,000 heavy trucks, generating 10 billion yuan in revenue. He Hongxin, Secretary General of the Wenzhou Auto Industry Association, noted that Wenzhou has historically lacked major vehicle manufacturers, which has hindered the development of its auto and motorcycle industry chain. The new joint venture, with its medium and heavy truck assembly line, is expected to significantly boost the local industry. With a 1:1.6 multiplier effect from整车 production to parts, the auto parts sector could see billions in additional sales in the coming years. More importantly, this collaboration sets a promising model for the future direction of Wenzhou’s automotive industry.

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