On the afternoon of June 25, Sinopec and China National Heavy Duty Trucks held a strategic cooperation signing ceremony, announcing that both parties will form strategic partnerships from now on. In the future, they will conduct in-depth cooperation in technology, business, brand, and overseas markets. China Lubricants Information Network () According to relevant market participants, the two sides will also establish joint laboratories for cooperation in technology research and development, and will start "seamless" cooperation from the product development stage of both parties. Both parties will also launch "Double Trademark" packaging products with the logo of "Sinopec and China National Heavy Duty Truck", and promote them in China National Heavy Duty Truck Service System. Song Yunchang, director of the Sinopec Automotive Industry Technical Cooperation Center and general manager of Sinopec Lubricants Co., Ltd., introduced that the strategic cooperation is focused on service awareness. There have been three major changes to the previous cooperation: The first is the expansion of cooperation in lubricants to fuels, chemicals, and other fields. The second is to upgrade the cooperation in product technology research and development to establish a joint laboratory to perform performance evaluation and driving test evaluation of engines, transmissions, lubricating greases, and chemical products. The third is to explore more cooperation space at the respective network channel level of both parties. For example, Sinopec will provide VIP services to key customers of Sinotruk.
The cooperation is beneficial to the research and development of China Heavy Duty Trucks to meet the requirements of the higher emission standard heavy trucks. On July 1, 2008, China began to implement the country's three emission standards. China National Heavy Duty Truck adopted an EGR independent technology that is lower in cost than common rail technology to meet emission standards. With cost advantages, the market share of the company’s products has increased rapidly, and the market share has once increased from 20% of the average to 37% (January 2009). The state was originally scheduled to implement the National Standard for Heavy-duty Vehicles on January 1, 2010. In March 2009, China Automobile Association proposed to postpone the implementation date of the IV emission standard for heavy-duty diesel vehicles by 30 months. Although from the current situation, the implementation of the national standard for four years is still some time, but the trend of emission reduction is determined. It is true that emissions are more dependent on the design of the Engine, but the quality and matching of the oil is also an important factor in reducing emissions. Sinotruk's cooperation with Sinopec will help the company meet the research and development of higher-emissions heavy trucks.
China Lubricants Information Network analysts believe that after the signing of the cooperation agreement between the two sides, the purchase of heavy trucks from Sinopec will also be biased toward Sinotruk. This cooperation will have a positive impact on Sinotruk.
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