The whole pattern of China’s automobile market has undergone tremendous changes. In the passenger car market, the revolution caused by electrification and intelligence has made China automobile enterprises enjoy the dividend in the window period. Geely, Great Wall, BYD and other traditional China brands and Weilai, Tucki and ideal new power brands have grown strongly; In the commercial vehicle market, greater changes are brewing.
In 2020, the domestic production and sales of commercial vehicles were 5.231 million and 5.133 million respectively, up by 20.0% and 18.7% respectively. Compared with the negative growth of passenger cars, the commercial vehicle market began to enter an explosive period of growth.
It is precisely because of this that Geely has made bold acquisitions and layouts in the field of commercial vehicles. On the basis of developing long-distance vehicles, it has taken Hanma Technology into its pocket and occupied a strong position in the domestic heavy truck market. What will happen to Geely’s commercial vehicle sector after the acquisition is completed? Where is the target locked?
Long-distance automobile and Hanma science and technology should be integrated
In July 2020, Geely Commercial Vehicle acquired 15.24% equity of valin star horse. In November 2020, valin star horse was renamed Hanma Technology. In May 2021, Geely Commercial Vehicle Group further increased its capital to Hanma Technology. After the capital increase was completed, Geely Commercial Vehicle Group’s shareholding in Hanma Technology increased from 15.24% to 28.01%.
The acquisition is only the first step. Next, Geely Commercial Vehicle’s new energy brand Long-distance Vehicle and Hanma Technology will be integrated and developed. Recently, Fan Xianjun, president of Geely Commercial Vehicle Group and chairman of Hanma Technology Group, made it clear at the 2021 National Partner Conference of Hanma Technology and Long-distance Vehicle that "Hanma Technology and Long-distance Vehicle are integrated and develop together."
Long-distance automobile and Hanma technology are integrated according to the situation. Why do you say that? At present, the industry development environment in which commercial vehicles are located has become more and more obvious. In Geely’s view, the future development trend of the industry is becoming more and more clear. It has become an irreversible and inevitable trend for the industry to replace traditional fuel vehicle products with a new generation of commercial vehicles with green and intelligent technologies as the core. The head effect is based on the consensus of the future trend, and the two sides have reached cooperation and started the coordinated development of integrated advantages and complementary advantages.
Among them, the long-distance automobile has formed two major product technical routes: the urban commercial vehicle system with pure electricity and extended-range power system as the core, and the road commercial vehicle system with methanol clean energy and charging and replacing technology as the core. The production bases are arranged in Nanchong, Sichuan, Shangrao, Jiangxi, Zibo, Jinzhong, Anhui, Maanshan and Huzhou, Zhejiang, and the products cover all commercial vehicles such as passenger cars, light trucks, LCV and heavy trucks. In the first half of this year, the overall sales of long-distance vehicles increased by 626% year-on-year.
Hanma Technology is an important R&D base for heavy trucks, heavy special vehicles, core components and new energy commercial vehicles in China. From January to July, 2021, Hanma Technology ranked first in sales of new energy heavy trucks, with a cumulative increase of 418.2% year-on-year and a market share of 21.32%.
After the strong integration, Remote Auto and Hanma Technology will complement each other in product and positioning, and develop together, positioning the heavy truck business strategy as "the leader in building green intelligent transportation solutions".
Enter the first echelon of heavy trucks in 2030.
According to the planning of Geely Commercial Vehicle, Hanma Technology locates the mainstream strong brand of heavy trucks, develops diversified products and diversified power, and will further enrich the product spectrum in the future and become the most comprehensive brand of heavy trucks. Products in the tractor, dump trucks, trucks, special vehicles, new energy vehicles for a comprehensive layout. Power has also been diversified. In addition to traditional diesel engines, there are LNG engines, methanol engines and power exchange systems.
Another big brand of long-distance cars is positioned as the leader of new energy heavy trucks, making efforts in new energy and intelligence. In terms of products, new energy products are laid out on traction, dump trucks and special vehicles; Power will continue to exert its strength in power exchange, hydrogen fuel cells and methanol.
Each has its own strengths and integrated development will be the future development direction of Geely’s two major heavy truck brands. Therefore, long-distance vehicles and Hanma Technology will fully integrate their product resources in the future. "In the long run, Hanma and remote product planning must be a common platform, and the comprehensive integration of product resources is accelerating." According to Fan Xianjun, "We focus on the iterative development of products, that is, we are selling a generation, researching a generation and planning a generation. Therefore, we periodically plan G1 products that comprehensively enhance our competitiveness, G2 products that are being optimized and developed in various systems, and G3 products that are fully competitive in the future market."
Behind a series of actions, Geely’s ambition in the field of commercial vehicles was also exposed. At present, Geely commercial vehicles have planned to complete a three-step leap from 2020 to 2030, and the integration period will be from 2020 to 2022, with the goal that the market rate of heavy truck products will reach 3%; The breakthrough period is from 2023 to 2025, and the annual sales volume of heavy trucks is 56,000 units, accounting for 5% of the market, ranking among the top 8 in the industry.
According to the plan, by 2030, the annual sales volume of Geely’s heavy trucks will reach 100,000, entering the first echelon.
Geely has been planning for commercial vehicle business for a long time, and now it is time to show its action. It remains to be seen whether the strategic objectives of each stage can be realized.
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