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Hawtai Motor Signed with Russian Truck Giant in the Great Hall of the People

Data:2015-09-03 16:31:00 Views:

When China celebrated the 70th anniversary of the victory of the World Anti-Fascist War on September 3, Hawtai Motor and Russian KAMAZ signed in the Great Hall of the People a $630 million agreement on a bilateral joint venture project. Leaders and envoys from both countries were present at the signing ceremony.

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Hawtai Motor is a large industry group which deals in the research, manufacturing and sales of vehicles and parts, as well as automobile finance and leasing. KAMAZ is the largest heavy truck producer in Russia, and ranks top ten in the world. The bilateral joint venture aims to leverage respective strength and promote resource sharing in technology, production and market.

Under the agreement, both sides will establish through joint venture a heavy truck production base in Tianjin Pilot Free Trade Zone. The base which combines research and manufacturing will introduce internationally competitive medium- and high-end heavy trucks, off-road heavy trucks, and commercial vehicles for specialized equipment. The base aims to produce 50,000 vehicles every year, valuing 20 billion yuan.

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Hawtai will also introduce from KAMAZ sophisticated all-weather trucks and AWD trucks for extreme climate and various road conditions to fill China's gap in these areas. For all these years, Hawtai has followed the idea of "introduction, digestion, innovation and going-out" in its independent research and commercialization of technology achievements. Hawtai will continue the strategy and cooperate with KAMAZ to promote domestic development of advanced commercial vehicles, expand localized production and manufacturing, and promote products worldwide. Backed by its independent, leading technologies in new energy vehicles, Hawtai will promote relevant research and production to strengthen China's strength in this respect. With existing market, channel and service network, Hawtai can provide sales support for the project in China and other countries, thus expanding domestic and international market.

Both sides also agreed to build a joint venture for passenger vehicles in Tartarstan, with an annual output and output value of 300,000 and $5.7 billion respectively.

In the model of KD, the company will produce Hawtai-branded SUV and cars which are equipped with patented clean diesel engines, 4AT and 6AT automatic gearbox of Hawtai. The project will also capitalize on market, sales and service network of KAMAZ in the Russian market to promote Hawtai passenger vehicles across Russia.

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Both sides will jointly develop commercial heavy trucks in domestic and international market, and expand their presence in Southeast Asia, India and Africa with Tianjin as the bridgehead, making China a more competitive player in global heavy truck business. Meanwhile, Hawtai and KAMAZ will maximize their existing interests in the international market, as well as geographical and economic advantages of both countries to radiate cooperation results to countries and regions in Middle Asia, Middle East and Europe. This will provide powerful support for China to advance its Belt and Road initiative.