At a recent commercial vehicle forum general manager of SAIC Motor Co. said, "SAIC Iveco Hongyan Motor Co. will produce a brand new commercial vehicle this year." On June 15th this year in Chongqing City, SAIC, Iveco and Chongqing Heavy Vehicle Group established Iveco Hongyan Motors. Chongqing Hongyan Motors is a heavy duty truck manufacturer in China, with a market share of 6%. The new JV will invest RMB 4 billion yuan to establish a new plant in north Chongqing, aiming at reaching 10% market share.
The general manager added that the JV will fully utilize chassis made by Hongyan and Iveco's cutting-edge technology to make heavy trucks, and aims to increasing its daily production capacity from 50 units to 120 units.
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