Chery has made a new move forward in having an international JV partner. On December 4, Chery Holdings and REV Group signed agreement in Wuhu about establishing a JV factory in Wuhu to manufacture high-end and middle-end motor homes, ambulances and other special vehicles for domestic and international market. Yin Tongyao, Chairman of Chery Holdings and REV President Tim Sullivan, among other officials, top executives and participants, were present at the signing ceremony.
According to the agreement, in early stage of the JV, it will mainly produce middle-end and high-end motor homes and ambulances. It has planned 6 series of motor homes and 3 series of ambulances while producing other special vehicle products. The products are not only sold in mainland China market, but also sold in the overseas markets of Chery. It is expected that after the first phase is put into production, the annual capacity and sales will reach more than 5,000 units of special vehicles, with net sales revenues exceeding 2 billion RMB while bringing over 4 billion RMB sales in related industries.
Chery is China’s largest exporter/manufacturer of passenger vehicles and famous comprehensive automobile manufacturer. REV is the leading manufacturer of special vehicles in North America. Their partnership is the best choice for both of the two parties. At present, Chery mainly engages in passenger vehicles, commercial vehicles, new-energy automobiles, automobile parts and components, automobile finance, motor home camping, etc., having 6.5 million users in the world. REV owns 29 top brands and has prominent advantages in ambulances, fire trucks and A-class motor homes. The ambulances of REV occupy market share of 66% in North America; it’s A-class school bus and small & medium-sized commercial vehicles take the leading market share in North America; its fire trucks and A-class motor homes also take the top-three market share in the region.
The JV established by Chery and REV will fully integrate their advantages in technologies, HR, market and management, thus building a brand of special vehicles with international influence.