Hawtai Motor deepens global presence to support China's Belt and Road initiative
BEIJING, Dec. 20, 2017 /PRNewswire/ -- Hawtai Motor, a independently-owned automobile brand that is representative of similar automakers in China, recently took its strategy for international growth a step further, in a move to support the implementation of The Belt and Road ("B&R") initiative.
Hawtai Motor, an SUV pioneer in China, is a large industrial conglomerate mainly engaged in automobile manufacturing, owning core power technologies and having strong financial backing. With total assets exceeding 48 billion yuan (approx. US$7.8 billion), the group has built businesses covering four key segments, traditional and electric vehicles, R&D and technology, finance and smart mobility.
Hawtai Motor is one of the earliest independently owned Chinese automobile brands to establish a presence outside of the home market. In terms of R&D and innovation, the company has established technology centers in Munich, Germany, in Russia and in Silicon Valley, USA.
In terms of design research for vehicle interiors and exteriors, Hawtai Motor has partnered with top global companies including UK-based HORIBA MIRA and France-based Faurecia.
For the engine and powertrain, Hawtai Motor has adopted the world's most advanced full-range passenger car diesel engine from Italy-based VM Motori S.p.A. and matched with an automatic transmission from Germany-based ZF Friedrichshafen AG, becoming the only large Chinese automobile power assembly production firm that can claim ownership of these two core technologies.
In 2018, Hawtai Motor will celebrate its 18th anniversary. Company chairman Zhang Hongliang has put forward its development plan for the next three years. The company plans to achieve sales of 200,000 units during 2018, then raise the bar with both production and sales of 500,000 units by 2020, with its complete vehicles, automotive products, engines and gearboxes widely exported to more than 30 countries and regions.
The Chinese automaker has established a manufacturing portfolio across the countries targeted by B&R. The portfolio includes Completely Knocked Down (CKD) assembly plants in Russia and Semi-Knocked Down (SKD) assembly facilities in Angola as well as Knocked Down (KD) arrangements in Brazil, India, Mexico, Thailand, Iran, Vietnam, the Philippines, Egypt, Nigeria, Kenya, South Africa and Columbia. Complete vehicles are currently being shipped to Australia, Peru, Chile, North Korea and Ethiopia.
Notably, Hawtai Motor took part in the fourth CICA Summit held in Shanghai in 2014 as the only Chinese homegrown automaker to be invited to the event. In the presence of Chinese President Xi Jinping and Russian President Vladimir Putin, the Chinese automaker signed a US$1.1 billion cooperation agreement with Russia's Derways to supply KD parts for 80,000 complete vehicles to the Russian company.
The measures that had been taken by Hawtai Motor in response to the B&R initiative have further promoted the automaker's new strategy as we enter the new era in terms of technological developments. The automaker also plans to further expand into world markets with the aim of building a Chinese car brand with international competitiveness.
SOURCE Hawtai Motor
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