www.chinatrucks.com: China’s leading construction machinery maker XCMG Group launched its heavy-duty truck project on January 12 in Xuzhou, reported finance.sina.com.

The Ceremony of the Starting  XCMG  heavy-duty truck project

After completion, the project will have a production capacity of 60,000 heavy-duty trucks and 80,000 construction machinery driving cabins.

With total investments of ¥4 billion ($630 million), the first phase of the project will occupy an area of 866,666 square meters and will be put into operation in 2014. The second phase will focus on the development of core parts and components of automobiles and construction machineries. To be started in 2015, the second phase plans for sales revenues of over ¥10 billion by 2018

 
According to Wang Min, chairman of XCMG Group, the current sluggish China heavy-duty truck market is bringing new developing opportunities for the Group.

The top 10 heavy-duty truck makers, such as Dongfeng, CNHTC and FAW, have taken up more than 95 percent of total market share. XCMG Group, though maintaining production ranges of heavy-duty trucks, has lagged far behind over the past years.

According to Xie Jiachen, a machinery industry analyst at China Investment Corp., China’s macro economy has recovered since the second quarter of 2012. The government’s urbanization policy will accelerate infrastructure construction, and the turning point of the heavy-duty market is around the corner.

Source : china auto review

Editor : Jennifer Chen

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Tags : XCMG Group heavy trucks