?? SAIC and Iveco for the first time jointly held a press conference, officially announced the two sides to fully upgrade cooperation. In the next cooperation, SAIC will provide funds and management support for the joint venture company. Iveco will build South Vicco into China's largest commercial vehicle base with an annual production capacity of 300,000 vehicles within five years. With the cooperation upgrade, SAIC Commercial Vehicles has covered a full range of commercial vehicle market segments.
“We already have the best partners that we may have in China.†Ivano’s president, Paulo Monferino, could not hide his joy at the meeting. Xiao Guopu, Vice President of SAIC Motors, divided the Shangyi Group cooperation started in 2006 into three phases, starting from the establishment of SAIC Iveco Commercial Vehicle Corporation in September 2006, and then the establishment of SAIC Iveco Hongyan as a newly added heavy truck business in June last year. In the third phase, after the cooperation with South Africa, South Vicco became the new starting point for strategic cooperation.
As the two commercial vehicle companies under SAIC, Nanjing Iveco and SAIC Iveco Hongyan have a total production and sales strategy target of 130,000 this year. The total production capacity of the two bases in Nanweike will reach 100,000, and the PowerDaily Baodi series will be the first heavyweight light passenger products after South Africa cooperation. Another result of Shangyi’s cooperation is that SAIC Iveco Hongyan’s production and sales target for this year will be 30,000 units. After the construction of the first phase of the new Chongqing base in October this year, the heavy truck capacity will reach 40,000 vehicles.
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