National Electric Vehicle Sweden AB (Nevs) and Dongfeng Motor Corporation (Dongfeng) signed an agreement on August 17, 2015 to achieve global industrial synergies.
Since July 2015, Nevs has started to work on developing Dongfeng's vehicle development projects Dongfeng's technical strength and improve Nevs' own development capability. Now both parties have agreed to expand their cooperation from technical development to further business areas.
Dongfeng has formed several strategic long term partnerships with other international major car manufacturers including AB Volvo and as a 14 percent shareholder of PSA. Dongfeng Motor, with several JVs in China including Peugeot, Citroën, Renault, Nissan, Infinity, Honda and Kia, is one of the world's largest automobile companies, with an annual output over 3.83 million units in 2014 and 1.83 million in the first half of 2015. A long-term and stable alliance with Dongfeng is of great significance for Nevs to achieve its business opportunity.
According to the agreement, Dongfeng will support Nevs on the construction of new energy vehicles production and R&D in Tianjin and the formation of Nevs' sales and service with support from Dongfeng's dealer network. Dongfeng will also support Nevs to achieve the new energy vehicle mass production.
Nevs wants to support Dongfeng on their own brands to meet the technical specifications and overseas markets, and assist them.
Dongfeng is one of the leading vehicle company groups in the world. Through this cooperation, Nevs wants to create industrial synergies, share the development costs, expand the supplier base and increase the overall competitiveness of our own future products. Mr. Mattias Bergman, President, Nevs. "This cooperation is in the automotive industry, with focus on electric vehicles."
DFM Brief Introduction
Dongfeng Motor Corporation (DFM) is the third biggest Chinese state-owned automobile manufacturer headquartered in Wuhan, Hubei Province. As of December 2014, DFM had a total of approximately 176 full-time employees.
DFM is connected to a variety of international OEMs and produces a wide range of foreign products in China including those of Peugeot, Citroen, Renault, Honda, Kia, Nissan and Infinity. The total output in 2014 was 3.83 million units with revenue of 483 billion RMB.
In 2012 DFM acquired 70% of T engineering, a Trollhättan based engineering company and a spin off from Saab Automobile Powertrain, as their first R&D center overseas.
In 2014, DFG became the 14% shareholder of PSA Peugeot Citroën.
DFM is listed as no.113 in the world on Fortune 500.