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From the Guangzhou Municipal Economic and Trade Bureau, it was reported that the Hino commercial vehicle project in Conghua has passed the national approval and will start construction in October this year. Once completed, it will become one of the largest commercial vehicle production bases in China.
Guangqi Hino will construct a nearly 1600-mu plant area in the town of Conghua, and plan to implement it in phases. It will build a main parts production workshop and a commercial vehicle R&D center, including R&D buildings, product laboratories, trial production workshops, etc., to gradually form the bodywork and interior and exterior trim parts. The development capabilities of the replacement and the matching development capabilities of the engine, chassis parts, body accessories and the vehicle.
In mid-August, the cooperation project achieved a new breakthrough: the National Development and Reform Commission has officially approved and agreed that Guangzhou Automobile Group Co., Ltd. and Hino Automobile Co., Ltd. jointly established GAC Hino Motor Co., Ltd., and the joint venture project will have a term of 30 years.
According to the joint venture plan, the newly established GAC Hino Motor Co., Ltd. will acquire the assets of Guangzhou Guangzhou Motor Co., Ltd., a subsidiary of GAC Group, to produce its own branded products and to cancel the production qualification of Yangcheng Co., Ltd.; to establish new production in Guangzhou Conghua. In the factory area, all products are transferred to Guangqi Hino Chemical Plant.
According to the plan, the project will add a total investment of 3.1 billion yuan and a registered capital of 1.5 billion yuan. Among them, the restructuring of the Yangcheng Company's exchanging construction project has a new investment of 2.4 billion yuan, and Guangzhou Automobile Group and Hino Company each contributed 50%.
In terms of product positioning, Guangzhou Automobile's Hino project will lock the mid- to high-end commercial vehicle market. According to reports, the joint venture company will introduce the production of Hino's 700 heavy truck series tractors, general trucks and its supporting P11C and E13C series 11L and 13L diesel engines for vehicles, retaining the Yangcheng brand light trucks' annual production capacity of 30,000 vehicles, and increasing the annual output of heavy trucks. The production capacity of 20,000 vehicles and supporting engines (of which 5,000 are supported by buses in the Shenyang plant area).