Sinotruk cooperates with Chengdu Wangpai

(chinatrucks.com, August 25, 2010) Chengdu government and Sinotruk group has signed the cooperation agreement in Chengdu city on August 23th, 2010. Both parties will invest in accordance with the agreement reached by Sinotruk and Chengdu Wangpai.

“Sinotruk Chengdu Wangpai Commercial Vehicle Company Limited” shall be established by both parties. The company aims to develop heavy, medium, light and mini series commercial vehicle and the other business of original Chengdu Wangpai. Sinotruk will invest to Chengdu Wangpai by the way of “assets increase and shares expanded”. However, Sinotruk will hold 80% shares of the total, and Chengdu Wangpai holds 20% shares. Sinotruk will invest 100 million Euros in short time, and 300 million Euros in long time.

Sinotruk cooperates with Chengdu Wangpai

Both parties will take full advantages of superior resources, and actively promote to make AV company become the key commercial vehicle base with annual capacity of 400,000 commercial vehicles. The capacity of the AV Company shall be made great efforts to realize 100,000 medium and heavy trucks, and 300,000 light and mini trucks by 2015.

The program of 100,000 medium and heavy trucks shall be initiated in 2011.

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