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On February 28th, 2011, Chongqing Kafu Brake Steering System Co., Ltd. and Knorr-Bremse Systems Asia Pacific Co., Ltd. of Knorr-Bremse Group formed a joint venture company. The joint venture company is controlled by German side and holds 66% of the shares. With its steering brake business as its capital, it holds 34% of the shares.
Chongqing Kafu Automotive Brake Steering System Co., Ltd. is China's top supplier of automotive brake and steering system components. Its predecessor, Chongqing Auto Parts Manufacturing Plant, was founded in 1952 and is one of the earliest specialized manufacturers of automobile brakes and steering parts in China.
The introduction of international advanced technology is not the first time. Kafu has introduced the technology of design and manufacture of automotive air brake components in Germany. The company has formed a complete spectrum of air brake components, further consolidating its position in the industry. Knorr-Bremse holds the world's leading technology in the brake steering system of commercial vehicles. Over the years, its products have been exported to the country, and the price is much higher than other products in the international market.
As China's economy soars, the production and sales volume of commercial vehicles in the country soars. It also allows international suppliers to see opportunities and accelerate access to the Chinese market. Many suppliers choose joint venture channels. Although Knorr's braking and steering technology ranks first in the international market, the price is high, and commercial vehicle manufacturers rarely import such "luxury goods" at a large price. Seeing that China's abundant customer resources are in front, Knorr wants to enter the Chinese market, and the joint venture letter of intent that Kafu handed over over the years has played a role.
The technology of commercial vehicle brake steering system is actually the "security" system of the automobile, which plays a crucial role in driving safety, energy saving and consumption reduction. Prior to the introduction of technology, Kafu and several other domestic companies were responsible for the supply of domestic commercial vehicle manufacturers, Shaanxi Automobile, China National Heavy Duty Truck, Yutong, Beiben, SAIC Iveco, etc., all of Cafu's “old customersâ€. After the joint venture, "old customers" can use the world's leading products without spending a lot of money. Tang Xiaoping said that the current domestic system for commercial vehicles is 1-2 levels lower than that of Knorr, but the price is much lower than that of imported technology. Kafu joint venture Knorr, one of the main purposes is to help Knorr's products enter the Chinese market, "at a low price, open a very broad market, the attraction of Knorr is not small." Tang Xiaoping said that the card Fu said that customers can buy safer equipment at a lower price, which is more attractive for expanding markets and seizing market share.
It is reported that on February 28 this year, the joint venture company was formally established. The joint venture company will expand the company's scale on the basis of the original brake steering technology production line of Cafu Company, and will build a new factory. After the production reaches all levels, the annual production value will reach several hundred million yuan.