China has been the industry leader for years in producing high-quality, low-cost products. That said, truck manufacturing is not an exception. The global market has embraced China’s strength in both quality and cost.
Keep reading to learn everything you need to know about China’s top 10 truck brands in 2022 and beyond.
Table of Contents
Shaanxi Auto Heavy Truck
JMC Heavy Duty Vehicle
First on the list is China’s National Heavy Duty Truck Group (CNHTC), a state-owned truck company. It was incorporated on 31st January 2007 in Hongkong as Sinotruk Hongkong Limited, an intermediate holding company for CNHTC. Sinotruk is headquartered in Jinan, Shandong Province.
In 1960, Sinotruk became the first Chinese heavy-duty truck manufacturer. And in 1983, the company partnered with Austria to introduce the STEYR heavy-duty truck. The introduction of STEYR was a landmark achievement as China’s first foreign heavy-duty truck technology.
Foton was established on 28th August 1996 and is based in Beijing, China. It is listed on the Shanghai Stock Exchange and consists of mixed ownership and state-owned holding enterprise. The company has assets totaling US$ 10 billion and a strong workforce of 40,000.
In 2012, Foton partnered with Daimler Automotive Co., Ltd. with a 50/50 agreement where the latter got a nod to participate extensively in manufacturing heavy and light-duty trucks. In 2016, Foton introduced its first heavy-duty trucks that met European standards and promised much better machines in the future.
The groundbreaking of its first premises was on 15th July 1953. Known as First Automotive Works (FAW), it was established with the assistance of the former USSR, which provided 80% of the production machinery. Currently, it is known as China FAW Group Co., Ltd. and is based in Changchun, China.
FAW partnered with Volkswagen AG in 1991 to establish a state-of-the-art facility to produce 150,000 units per year. Later on, FAW collaborated with Toyota in 2004, and the company churned out over one million units more than any other auto company in the country.
The FAW Group is the second largest among the big four state-owned car manufacturers. In 2021, the Group’s operational expenses hit RMB 707 billion (approx. US$ 99 billion), second among Chinese manufacturing companies. The provincial vehicle unit production hit 2.24 million units, which represented 72.4% of the total output and was worth RMB 455.1 billion (approx. US$ 64 billion).
Shaanxi Auto Heavy Truck
Shaanxi Auto Heavy Truck is one of the biggest truck manufacturers in China. Its principal office is in Xi’an, Shaanxi province, and it manufactures bus chassis and heavy-duty and medium-sized trucks utilizing STEYR and MAN SE technologies.
Shaanxi was established in 1968 and currently has approximately 32,000 workers and an asset base of US$ 5.25 billion. The entity also manufactures military, heavy-duty, medium, and light trucks.
The Group’s export portfolio covers 90 countries in Africa, the Middle East, and Southeast Asia. Spare parts for its vehicles are accessible in most countries in the world.
This truck manufacturer was established on 20th May 1964 in Hefei City, Anhui Province, China, with the target of producing heavy-duty trucks. Jianghuai Automobile Co. Ltd (JAC) was listed on the Shanghai Stock Exchange in 2001.
It is listed among the top 10 leading brands in China and has a voluminous production capacity of 520,000 units per year. The entity manufactures heavy, medium, and light-duty trucks, bus chassis, SUVs, and sedans.
In 2021, the company hit RMB 35.5 billion (approx. US$ 5 billion) worth of revenue with a foothold in 130 countries and a market capitalization of RMB 33.7 billion (approx. US$ 4,8 billion). Besides manufacturing trucks, the enterprise also deals in electronic and mechanical components and electric vehicles.
Dongfeng is the third largest of the big four state-owned vehicle manufacturers in China. The entity was first founded as the Second Auto Works (SAW) on 28th September 1969 in the city of Shiyan, Hubei Province. It was later renamed Dongfeng Motor.
Dongfeng can produce 200,000 units per year. The units include heavy and medium trucks plus 28,000 buses. Its other vehicles include sedans, SUVs, Mini-CVs, MPVs, and pure electric and natural gas vehicles.
In 2015, Volvo completed a 45% takeover of Dongfeng after approval by the Chinese Competition Authority, among other conditions. With such collaborations, the enterprise has grown, and in 2021, the income statement of Dongfeng Motor recorded revenues totaling RMB 113 billion (approx. US$ 15.9 billion).
JMC Heavy Duty Vehicle
This Chinese truck company is owned by Volvo Trucks. JMC first operated under the name Taiyuan Hangan Heavy Truck, established in 2007. After missing its projected unit targets, it was re-established as JMC Heavy Duty Vehicle (JMCH) and started operating in 2013.
Over the years, it had undergone several takeovers until 2021, when Volvo acquired JMCH for around US$ 109 million. Volvo is planning to roll out its truck variants of FH, FM, and FMX in China by the end of 2022.
SAIC-IVECO Hongyan (SIH) is a collaboration of SAIC, IVECO, and Chongqing Hongyan that dates back to 1965. The agreement was signed on 18th September 2006 and finalized on 15th June 2007, officially establishing the partnership.
SIH brought onboard the technology that the Italian truck maker IVECO uses and fused it with the R&D of Chongqing Hongyan. The partnership produced the Genlyon heavy truck in 2009, Kingkan in 2011, and Gentruck in 2015.
SAIC-IVECO Hongyan has facilities in the Lianjiang New District with a plant modeled after the IVECO plant in Madrid. The plant can produce 80,000 vehicles per year.
Hualing Xingma had its roots in Ma’anshan manufacturing in 1970. It uses the CAMC badge for marketing overseas. Currently, Geely New Energy Commercial Vehicle Group holds a majority stake in the company.
Moreso, Hualing Xingma operates under Hanma Technology Group Co., Ltd. and is based in Ma’anshan Anhui, China. Hualing focuses on making special-purpose vehicles, heavy card chassis, and core parts.
The company’s main assembly plant can produce 100,000 heavy trucks and 50,000 special vehicles annually. CAMC designation is exported to eastern Europe, Southeast Asia, South America, and North Africa.
XCMG Group was established in 1989 with a specialty in construction equipment. The company is heavy on earth-moving machinery like excavators, loaders, and cranes, but it has an arm for heavy-duty trucks. Currently, it holds the record for building the biggest real-wheel drive rigid mining truck.
In 2021, the company reported operating revenue of US$ 13.2 billion, year-on-year growth of 14%, and a net profit of US$ 879 million. XCMG continues to maintain its specialty of manufacturing special vehicles. For instance, in 2021, its hoisting machinery was ranked 1st worldwide.
Manufacturing of trucks in China is growing in leaps and bounds. The growth is because established European brands make inroads into the Chinese market by proposing and executing joint ventures with local companies.
These Chinese truck companies are set to experience more growth, and others will be formed. Since the Chinese population offers a large, lucrative market, Europe’s established brands and the rest of the world cannot afford to ignore them.
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