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According to reports, the four domestic automobile companies - Great Wall Motor Holdings, Dongfeng Motor Group, Chery Automobile Co., Ltd. and South China Motorcycle Industry Co., Ltd. have recently drawn up an agreement and decided to joint the joint venture in Ghana, Africa with the local large-scale enterprise Sneda Motor Co., Ltd. Established a car production base to produce trucks, motorcycles, Chery cars, pickup trucks and wagons in the form of CKD (Assembly Parts). The four companies will go to Ghana and Sneda Automobile Co., Ltd. this month to continue to discuss detailed investment conditions. At present, the agreement is still in a confidential phase, so all parties have evaded the situation. However, this is the first time that domestic auto companies set up factories overseas. It is expected that the amount of investment will be high.
Comments: It is understood that Chinese cars are very popular in Ghana due to the advantages of Chinese cars being cheap, durable, and suitable for local terrain conditions in Ghana and compact dimensions. Therefore, these four companies decided to jointly build a production base in Ghana in order to save costs and expand market share in Africa. This is a good thing for domestic companies. Domestic products are competitive in new markets and can help digest the country’s gradually expanding production capacity and seek certain benefits. However, domestic auto companies do not enter a strong market but a weak market in developing countries. The market capacity is not large, and the requirements for automobiles are not very high. It may not be helpful to improve the overall competitiveness of domestic companies.