In 2024, against the backdrop of domestic equipment manufacturing industry's sluggish performance and weakening international market momentum, Shandong Heavy Industry Group has seized overseas opportunities, achieving continuous export growth and frequent success. This edition of the 'Leading the Way - Observing Shandong Heavy Industry Group's High-Quality Development' series focuses on the group's export champion, Sinotruk, exploring the secrets behind its overseas market leadership.
In recent years, despite increasing uncertainty, imbalance, and unpredictability in overseas markets, Sinotruk confidently set a target of 450,000 vehicle sales for 2025, representing over 20% year-on-year growth, while accelerating its global deployment of full-range commercial vehicles. How does Sinotruk rise to these challenges amid turbulent overseas markets, and what gives it such confidence?
Product Strength as the Greatest Source of Confidence
Sinotruk owns domestically leading and internationally advanced manufacturing bases. The Laiwu factory, which cost RMB 15 billion, features the world's most flexible automated commercial vehicle production line, China's first servo press automated line, and the country's first AGV production line in the heavy commercial truck sector. The welding workshop at the Laiwu factory is also the commercial vehicle industry's first 'lights-out factory' in China.
World-class research and development capabilities and intelligent manufacturing levels enable Sinotruk to continuously introduce products with more advanced technology, superior quality, and better market fit. The company has successfully built an industry-leading technology system with independent intellectual property rights, developing a full range of commercial vehicles including heavy trucks, light trucks, buses, special-purpose vehicles, pickups, and vans to meet diverse global customer needs.
Embracing Change to Create New Competitive Advantages
Sinotruk actively seizes market opportunities by increasing development of new energy vehicles, including pure electric, hydrogen fuel, and hybrid models. This achieves full coverage of new energy technologies and six major application scenarios, leading the global transportation industry toward a greener, smarter, and more efficient future.
By 2025, Sinotruk will collaborate with European R&D platform resources to launch a new generation of medium and heavy-duty truck platforms. These will feature 12% improved economics for traditional energy vehicles and B10 life expectancy exceeding 2 million kilometers. For new energy vehicles, curb weight will be reduced by 600kg, while energy consumption will decrease by an additional 10% from current levels.
Brand is Reputation: Being the Undisputed Industry Leader
Actively responding to the 'Belt and Road' Initiative, Sinotruk continues to enhance its international brand influence by hosting multiple partnership conferences and product launches globally in Mexico, Algeria and other locations, creating a multi-channel, broad-coverage, three-dimensional communication matrix. In September 2024, at the IAA Transportation in Hannover, Germany - known as the 'Oscars' of the commercial vehicle industry - Sinotruk made a stunning appearance with seven vehicle models, once again impressing the world with its superior technological prowess.
At the exhibition, Sinotruk's new generation Yellow River heavy truck broke the commercial heavy truck low drag coefficient record again with a coefficient of 0.286. The combination of 'ultra-low drag + zero carbon emissions + distinctively oriental aesthetic design' won widespread acclaim from global customers.
Today, Sinotruk's exports reach more than 110 countries and regions worldwide, with 80 overseas representative offices and agencies established in over 90 countries and regions. Sinotruk has become a dazzling 'golden business card' representing both China's manufacturing strength and intelligent manufacturing capability in the global commercial vehicle industry.
In 2024, amid global market transformation, Sinotruk achieved counter-trend growth in overall performance thanks to its long-term market foundation and strong product capabilities. Annual heavy truck exports reached 135,000 units, breaking its own export record once again. The company has maintained its position as China's leading heavy truck exporter for 20 consecutive years, serving as the undisputed benchmark for Chinese commercial vehicle enterprises expanding globally.
Facing a challenging future, Shandong Heavy Industry Group will continue forward with greater openness and more determined steps, advancing shoulder to shoulder with global partners to create a blueprint for a closer, mutually beneficial community of shared future, leading the industry toward an even brighter tomorrow.
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