Failure of joint ventures can be learned

Xu Xuegui, chief analyst of Guosen Securities Automotive Industry, believes that in the commercial vehicle sector, there has not been a particularly successful joint venture case. The cooperation between Yutong and German MAN on the chassis was unsuccessful; the joint venture between Mercedes-Benz and Yangzhou Yaxing Bus Factory ended in failure; the cooperation between Isuzu and Guangzhou Automobile also suspended. The Volvo Group's joint venture with CNHTC, which had been "moving" early in the Chinese market, was also unsuccessful.

She therefore believes that foreign companies have many lessons to learn. The joint venture with CNHTC should be regarded as a loss to Volvo. In addition to providing important tools to CNHTC, market share, etc. have not been achieved. The reason for this is that foreign truck companies are dissatisfied with the Chinese market and their prices are too high, while China favors low-priced products. "The parties to the joint venture are all thinking, foreign-funded companies want markets, and China is looking at each other's technical strength."

Failure in the past does not mean that the future will not be forgotten. Domestic manufacturers will certainly not ignore international giants with capital and technological strength. Take Dongfeng as an example. Dongfeng and Cummins Inc. each have a 50% share. Dongfeng Cummins Engine Co., Ltd. has a high profitability. In particular, Cummins' global brand influence is a stepping stone to help Dongfeng Cummins win overseas orders. Volvo, who had learned the past and cooperated with Dongfeng, may be able to burst out with incredible energy.

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