Russian truck manufacture KAMAZ and Hawtai Motor Group from China are to set up a joint venture for the manufacture of KAMAZ trucks in China and HAWTAI cars in Russia, it was announced last week. The framework agreement was signed in Beijing by CEO KAMAZ Sergei Kogoghin and HAWTAI Chairman Zhang Xu Gen.
“This framework agreement is drafted in support of our long-term strategy to diversify sales and develop new high-growth markets,” Kogoghin said. “Working together with HAWTAI, we will have the opportunity of penetrating the highly potential market of heavy-duty trucks in China where, backed up by our partners, we will be in a position to acquire new customers. Our goal is to achieve sales of 50,000 vehicles per year.” The Hawtai chairman described the deal as a “win-win” arrangement.
KAMAZ and Hawtai join forces for truck and car production
Source: rostec