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Dongfeng Motor Group reportedly plans to sell its 50% stake in Dongfeng Honda Engine Co., Ltd. Joint venture with Honda Motor Co., according to an Aug. 18post on the official website of Guangdong United Property and Equity Exchange. The project is in the pre-listing phase, with no reserve price set, and the deadline is Sept. 12.
According to the audited figures in the listing documents, Dongfeng Honda Engine was valued at RMB 5.4 billion (approximately USD 752 million) in 2024. The company posted a net loss of RMB 227.8 million for the same period, carries liabilities of RMB 3.3 billion.
According to the official website of Dongfeng Honda Engine Co., Ltd., the company was established in 1998. Its shareholders are Dongfeng Motor Corporation, Honda Motor Co., Ltd., and Honda Motor (China) Investment Co., Ltd., holding 50%, 40%, and 10% of the shares respectively.
China National Heavy Duty Truck Group and Toyota Motor Corporation signed a strategic cooperation agreement on April 25, at Toyota’s headquarters in Nagoya, Japan.
Toyota Motor Corporation possesses world-leading hydrogen fuel cell technology, and China National Heavy Duty Truck Group is a leading enterprise in China’s commercial vehicle industry. The hydrogen fuel cell tractor jointly developed by the two parties has already been delivered to the market in batches. In the future, the two sides will establish more extensive cooperation in the fields of cooperative research and development, demonstration and operation, promotion and application, and business model innovation of hydrogen fuel commercial vehicles, and work together to create a new ecosystem for the zero-carbon logistics industry chain.
Yuchai and XCMG have signed an agreement to jointly build and share new channels for overseas development and embark on a new chapter of cooperation in the Eurasian region.
The agreement stipulates that Yuchai and XCMG will establish Yuchai Service Stations and Yuchai Service Training Centers in the Eurasian region to provide technical training and corresponding technical support for XCMG’s local dealers and customers. Yuchai also authorizes XCMG as its spare parts dealer in the Eurasian region. In addition, the two parties will jointly carry out the Blue Ocean Action brand promotion activities in the Eurasian market to enhance their international brand influence.
It is reported that XCMG, which sells construction machinery and tractors equipped with Yuchai engines in the Eurasian region, is one of Yuchai’s core OEMs in the area. After the signing of this strategic agreement, the two sides will further deepen their cooperation and promote the high-quality development of their overseas expansion strategies.
Last month, China National Heavy Duty Truck Group and Toyota Motor Corporation signed a strategic cooperation agreement to develop hydrogen powered commercial vehicles.
China is a market with great potential for the promotion and popularization of hydrogen energy, and long-haul heavy-duty logistics vehicles are an important application scenario that highly matches hydrogen energy.
Toyota Motor Corporation possesses world-leading hydrogen fuel cell technology, and China National Heavy Duty Truck Group is a leading enterprise in China’s commercial vehicle industry. The hydrogen fuel cell tractor jointly developed by the two parties has already been delivered to the market in batches.
The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) officially announced that it would implement a strategic reorganization of the three state-owned automotive enterprises—FAW Group, Dongfeng Motor, and Changan Automobile. The goal is to “build a world-class automotive group with global competitiveness, independent core technologies, and the ability to lead the transformation of intelligent and connected vehicles.”
The combined annual production capacity of the three central state-owned enterprises exceeds 8 million vehicles, yet the market share of their owned brands is less than 15%. The fragmented R&D investment has led to low efficiency in technological advances. After the reorganization, technological synergy will become a core focus. For example, a joint innovation consortium will be established in 28 “chokepoint” areas, such as automotive-grade chips and domain controllers, to concentrate resources on overcoming technological barriers.
Baidu and CATL say they will collaborate on unmanned driving and digital intelligence to promote unmanned driving services and industrial AI applications.
The cooperation is expected to leverage the advantages of both companies, including CATL’s battery, swapping, and skateboard chassis technologies for unmanned vehicle development, and to explore competitive products and business models to enhance mobility services.
Baidu will support CATL’s digitalization with its full-stack AI capabilities, spanning chips, platforms, and applications, injecting new energy into the green transition and jointly building a smart energy future.
The Italian superyachts manufacturer Sanlorenzo and Volvo Penta are working to enhance yachting efficiency and sustainability by integrating the Volvo Penta’s IPS Professional Platform into the new SX120 and SX132 superyachts.
As part of its “Road to 2030” strategy, Sanlorenzo, a leading superyacht manufacturer, continues to drive innovation following the 2024 launch of the 50 Steel, the first superyacht powered by a green methanol-to-hydrogen fuel cell.
The IPS Professional Platform is an integrated, modular propulsion system developed by Volvo Penta and has been successfully tested on the 37 meters passenger ferry called Penta 40 in Sweden in 2024. It is designed for commercial vessels and superyachts between 25 and 55+ meters to improve efficiency, sustainability, reliability and comfort on the sea.
FAW Jiefang and CATL have signed a strategic cooperation agreement under which they agreed to work together to develop new energy commercial vehicles.
According to the agreement, the two parties plan to integrate selected resources in the field of new energy commercial vehicles. They will collaborate in product matching, product development, science and technology project applications, industrial ecosystem construction, and business model innovation.
The joint venture between FAW Jiefang and CATL—FAW Jiefang Times New Energy Technology Co., Ltd.—will work to leapfrog growth in the sales of new energy commercial vehicles. Currently, driven by the government’s “dual carbon” strategic goals, the green transformation of the commercial vehicle transportation industry, is imminent and holds significant market potential. Data from the China Association of Automobile Manufacturers shows that from January to November 2024, the sales volume of new energy commercial vehicles in China reached 462,000 units, with a year-on-year increase of as high as 31.1%.
Bosch and Jiangling Group have signed a joint venture agreement in Nanchang, planning to establish a joint venture to jointly develop and sell electric drive axle systems for light commercial vehicles. The registered capital of the planned joint venture is 500 million yuan (63 million euros), with Bosch holding 60% and Jiangling holding 40%. The newly established company will be mainly responsible for the development, application, production, sales, and service of electric drive axle systems for light commercial vehicles.
Bosch will rely on its experience in electric drive technology to provide core technical capabilities such as electric drive, electric motors, and electric control, while Jiangling Group will contribute its insights in the complete vehicle field and grasp of the local market.
The Asia Zero-Emission Community is a collaborative framework for decarbonization involving nine ASEAN countries (excluding Myanmar), Japan and Australia. It is abbreviated as AZEC. The first summit was held in December 2023. The principles of the initiative are “decarbonization through diverse pathways that take into account the circumstances of each country” and “simultaneous realization of decarbonization, economic growth, and energy security”.
Many countries in Southeast Asia rely on fossil fuels such as coal and natural gas to generate electricity. Japanese companies are driving the adoption of renewable energy, and the Japan government is also providing support through subsidies and other means. As of the end of 2023, 120 cooperation projects have been implemented between Japan and countries in the region.
