CHTC (China Hi-Tech Group Corporation) and Tata Daewoo JV
CHTC (China Hi-Tech Group Corporation) and South Korea?s Tata Daewoo has recently signed a memorandum of understanding in Beijing on jointly building commercial vehicles in China. The pair aims to release their first products in the second half of 2014.
According to SASAC, the government agency supervising state-owned assets, the cooperation project will start by introducing latest models of heavy-duty trailer trucks from Tata Daewoo. European-designed, these trucks feature Cummins engines and 16-gear transmissions from South Korea?s S&T Dynamics. When built and sold in China, they will bear the "CHTC-Daewoo" brand.
One of the over 100 companies directly supervised by the State Council, CHTC has its roots in manufacturing textile machineries, in which it remains strong. In recent years, it has expanded into the auto industry through a series of acquisitions. It bought truck-maker KAMA in 2008, truck-and bus-maker Hubei Chufeng in 2010, pickup- and SUV-maker Baoding Dadi in 2011. The division that is to work with Tata Daewoo is Hi-Tech Truck, Co., Ltd, which was founded through the 2010 acquisition and is based in Suizhou, Hubei. It has a production capacity of 15,000 heavy-duty trucks per year.
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