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China has been the leader in making high-quality, low-cost goods for many years. Even so, building trucks is not an exception. China's strengths in both quality and price have been recognized by the rest of the world.
Read on to find out everything you need to know about China's top 10 truck brands for 2022 and beyond.
Sinotruk
China's National Heavy Duty Truck Group (CNHTC), a state-owned truck company, is first on the list. On January 31, 2007, in Hong Kong, it was set up as Sinotruk Hongkong Limited, which is a holding company for CNHTC. The main office of Sinotruk is in Jinan, Shandong Province.
In 1960, Sinotruk was the first company in China to make heavy-duty trucks. And in 1983, the company worked with Austria to make the STEYR heavy-duty truck. As China's first foreign heavy-duty truck technology, STEYR was a big deal when it was brought there.
The company was founded on August 28, 1996, and it is based in Beijing, China. It is listed on the Shanghai Stock Exchange and is a holding company with mixed ownership and state ownership. The company is worth $10 billion and has a strong staff of 40,000 people.
In 2012, Foton and Daimler Automotive Co., Ltd. signed a 50/50 agreement that gave Daimler the green light to make a lot of heavy-duty and light-duty trucks. In 2016, Foton made its first heavy-duty trucks that met European standards. The company said that in the future, it would make much better machines.
FAW truck
On July 15, 1953, the first building was put into the ground. It was set up with help from the former USSR, which gave it the name "First Automotive Works" (FAW) and provided 80% of the machinery used to make cars. It is now called China FAW Group Co., Ltd. and has its headquarters in Changchun, China.
In 1991, FAW and Volkswagen AG worked together to build a state-of-the-art factory that could make 150,000 cars per year. Later, FAW worked with Toyota, and in 2004, they made more cars than any other company in the country. They made over a million cars.
The FAW Group is the second biggest of the four big state-owned automakers. The Group's operating costs will reach RMB 707 billion (about US$ 99 billion) in 2021, making it the second largest manufacturer in China. The total number of vehicles made in the province was 2.24 million, which was 72.4% of the total and worth RMB 455.1 billion (about US$ 64 billion).
XCMG trucks
In 1989, XCMG Group was founded as a company that made construction equipment. The company makes a lot of excavators, loaders, and cranes, but it also has a division that makes heavy-duty trucks. At the moment, it holds the record for building the largest rigid mining truck with real-wheel drive.
In 2021, the company's operating income was US$ 13.2 billion, which was a 14% increase from the previous year, and its net income was US$ 879 million. XCMG keeps doing what it does best, which is making special vehicles. For example, in 2021, its lifting equipment was ranked 1st in the world.
Conclusion
China is making more and more trucks, and they are making them faster and faster. Established European brands are getting into the Chinese market by proposing and carrying out joint ventures with Chinese companies.
There will be more growth for these Chinese truck companies, and new ones will start up. Since the Chinese people are a large and profitable market, well-known brands in Europe and the rest of the world can't ignore them.
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