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At the first anniversary of the cooperation between Sinotruk and German Man Group on August 26th, the two parties announced that the new brand new product they will cooperate with will be formally released in 2001. The current cooperation projects between the two sides are proceeding according to plans, and the transfer of technical documents and localization work are basically completed.
According to Ma Chunji, chairman of China National Heavy Duty Truck Group, the plant has started construction according to the plan. Most of the imported sophisticated equipment has been ordered and arrived, personnel training and technical support have been carried out at all levels. At the capital cooperation level, the Man Group obtained a stake of 25% plus one share of CNHTC by investing 560 million euros, and sent three non-executive directors and an executive director to the board of directors. China National Heavy Duty Truck Group holds a 51% stake in Sinotruk. At the technical and operational level, according to the technology transfer contract signed by both parties, MAN Group will transfer the vehicle technology and key assembly and component technologies such as engines and axles to CNHTC, and Sinotruk will be licensed to use China's domestic license technology. Exclusive rights for truck production and assembly. Both parties will use the global sales network of CNHTC and Man Group to sell new products globally.
Headquartered in Munich, Germany, MAN Group has more than 250 years of operating history in the commercial vehicle and power engineering sectors. In the first half of 2010, the Man Group achieved sales revenue of 57.6 billion yuan, a year-on-year increase of 19%.