At 9:00 on May 14, 2019, the launching ceremony of Weichai-Kamaz cooperation project was held in Beijing. Tan Xuguang, chairman of Weichai Group, and Sergei Kogogin, general manager of Kamaz Group, signed the agreement.
On September 11, 2018, under the joint witness of Chinese President Xi Jinping and Russian President Vladimir Putin, Weichai and Kamaz signed a strategic cooperation agreement in Vladivostok, Russia. The two sides intend to jointly establish a joint venture company to cooperate in production of industrial engines, to inject "China power" to promote local economic development.
Taking advantage of the “Belt and Road” initiative, Weichai has continuously increased its overseas expansion efforts in recent years, and has explored overseas cooperation and localized production modes in India, Myanmar, Ethiopia and Belarus. Russia is an important economic and trade partner of China in Northeast Asia and an important region for the “Belt and Road” initiative. Northeast Asia is the “home market” of Weichai. After years of hard work, Weichai brand and products have won the favor of local Russian customers.
Kamaz Group is a Russian manufacturer of heavy trucks and buses. It has a 50-year history of heavy-duty vehicle manufacturing with an annual output of more than 40,000 units. After more than 70 years of development, Weichai now has heavy trucks, engines, gearboxes, axles and other gold industry chain resources. The two sides will have a wide range of cooperation potential. In the early stage, the two sides signed a strategic cooperation agreement that, in addition to establishing Kamaz-Weichai Co., Ltd. in the Yaroslavl Free Trade Zone to engage in the production and sales of industrial diesel and gas engines, the two sides also plan to seek cooperation in gearbox, axle, and other areas.
The signing of the cooperation agreement in Beijing marks the official launch of the cooperation project between the two sides. Under the guidance of the “Belt and Road” initiative, the story of Weichai and Kamaz is about to be staged.