Dongfeng Motor: CASE alliance with FAW and Changan, and aggressive expansion into Africa

Dongfeng Honda sales steady, French and Korean JVs sluggish




 Dongfeng Motor Group Co., Ltd. (hereinafter Dongfeng Motor Group), which changed its name from Dongfeng Motor Corporation in November 2017, is headquartered in Wuhan, Hubei Province, and is the second largest government-affiliated automotive group company in China in terms of the number of vehicles sold (2018). Although the Dongfeng Motor Group steadily increased its annual sales volumes every year in the past, its sales volumes have been trending downwards since 2017, falling 7.0% in 2018 year-over-year (YoY) to 3.783 million units, the same level as that in 2014. Approximately 70% of the group's sales are dependent upon its foreign equity joint ventures.

 Against the backdrop of reforms and reorganizations of state-owned enterprises being promoted at the national level, the three Chinese government-affiliated companies China FAW Group Co., Ltd. (FAW Group), the Dongfeng Motor Group, and Chongqing Changan Automobile Co., Ltd. (Changan Automobile), signed a strategic framework agreement in December 2017. Looking to the future, the 3 OEMs plan to construct a collaborative system focusing on areas such as technological innovation, supply chain, overseas expansion, and new business models.

 At the beginning of 2019, the Dongfeng Motor Group established its twin 400 targets (operating income of CNY 40 billion, and sales volumes of 4 million units), but is unlikely to overcome the obstacles to achieve those targets because the number of vehicles it sold in the January to October 2019 timeframe fell to 2,851,000 units, reflecting a decline of 6.1% YoY. Sales of Dongfeng’s foreign equity joint ventures, with the exception of Dongfeng Honda Automobile Co., Ltd., have also fallen YoY. In the midst of these financial circumstances, on December 18, 2019, Groupe PSA (PSA) announced that it would be merging with Fiat Chrysler Automobiles N.V. (FCA). Dongfeng Motor Group agreed to sell a part of its shares in PSA resulting in a reduced equity stake in PSA; PSA is one of the major shareholders in Dongfeng PSA (Dongfeng Peugeot-Citroën Automobile Co., Ltd.).



Related reports:

Wuhan International Commercial Vehicles Show 2019: Dongfeng, FAW, Shaanxi, Foton, JAC, JMC(Dec. 2019)
SAE China 2019 (1): CASE initiatives of China OEMs and DiDi’s high-precision mapping(Nov. 2019)
CTI Symposium China 2019:Automotive drivetrains, Intelligent, Electrified (Nov. 2019)
China NEV Alliances(Aug. 2019)
Auto Shanghai 2019:Exhibitions by Chinese State-Owned Automakers(May 2019)




Own-brand CASE strategy: Collaboration with FAW and Changan, announcing 5G-integrated self-driving commercial vehicles


 In December 2017, the Dongfeng Motor Group, the FAW Group, and Changan Automobile signed a strategic framework agreement. Looking to the future, the 3 OEMs plan to construct a collaborative system focusing on areas such as technological innovation, supply chain, overseas expansion, and new business models. In March 2019, the three companies signed the formal agreement to establish the mobility company “T3 Mobility”. T3 Mobility is a connected car mobility platform that covers a wide range of areas, and the "Manufacturing Area Joint Project Promotion Management Method" is specific to the area of manufacturing.

 Conversely, independent of its relationship with FAW and Changan, the Dongfeng Motor Group has also developed its own CASE strategy. Dongfeng has established a joint venture with CATL (Contemporary Amperex Technology Co., Ltd.) and will build a battery plant to meet the future demands associated with electrification. With regards to its operations related to fuel cell vehicles, Dongfeng will be engaged in the research and proliferation of fuel cell vehicles as well as the establishment of a manufacturing site. Regarding autonomous driving, Dongfeng unveiled its 5G-compatible "Sharing-VAN" light commercial vehicle at the Shanghai Motor Show in April 2019. The following table summarizes the key CASE strategy initiatives being undertaken by the Dongfeng Motor Group for its own brand vehicles.



Establishment of joint venture with CATL and construction of battery plant ・ In 2017, Dongfeng Electric Vehicle (DFEV) launched the Dongfeng New Energy Industry Park Project. The first phase of the project will be to construct a manufacturing facility on a site of 47,000 square meters that, after its completion, will have a production capacity of 800,000 sets of various control devices, 120,000 sets of motors, and 50,000 sets of battery systems.
・ In April 2018, Dongfeng Amperex (Wuhan) Battery System Co., Ltd. which is affiliated with the Dongfeng group, and CATL, established a joint venture to collaborate in the fields of R&D, manufacturing, and the sale of NEV battery systems. The registered capital of the 50:50 JV is CNY 100 million. The company plans to build three production lines in 2019 for the manufacturing of 192,000 sets of battery systems in 2020 with a total power generation capacity of 9.6GWh.
Establishment of manufacturing site for commercial vehicle fuel cells ・ In February 2018, Dongfeng (Shiyan) Special Commercial Vehicle Co., Ltd. (Dongfeng SCV), a subsidiary of the Dongfeng group responsible for its specialty vehicles business, signed a cooperation framework agreement with the government of Yunfu City, Guangdong Province. Under the agreement, a Dongfeng SCV plant will be constructed in the city of Yunfu to manufacture hydrogen fuel cell powered commercial vehicles. The first phase of construction will give the plant a production capacity of 2,000 units by 2020, and after the construction project is completed its production capacity will be ramped up to 5,000 units per year.
Focusing on the development and popularization of fuel cell vehicles ・ In July 2019, Dongfeng Automobile Co., Ltd. announced that it had reached agreement on discussions concerning a strategic alliance with the Xiangyang Municipal People's Government in Hubei Province, the State Power Investment Corporation (SPIC) Central Research Institute Co., Ltd., and the Wuhan University of Technology (WUT) to cooperate in the fields of hydrogen-related equipment R&D and manufacturing as well as the simulations regarding the introduction and popularization of transportation systems involving hydrogen energy applications. In August 2019, the parties signed an alliance agreement in the area of hydrogen fuel cell vehicle development. SPIC is one of the companies that participated in the drafting of China’s "National Fuel Cell Standard" in 2016.


Preparing for production of Level 4 compatible trucks ・ Exhibited at the 2019 Shanghai Motor Show, the Sharing-VAN is the first Level 4 self-driving vehicle in China based on Dongfeng’s proprietary platform that integrates 5G mobile communications technology. The vehicle is equipped with 4 laser radars, 1 millimeter wave radar, 16 ultrasonic radars, 12 cameras, and 3 safety systems.
・ In October 2019, Dongfeng announced that it has received orders for more than 3,000 units of its autonomous Sharing-VAN vehicle within 6 months of its release, and has entered the countdown phase before launching the vehicle for commercial operation. Based on the Sharing-VAN, Dongfeng has also developed more than 10 models of different body types including unmanned public buses, express delivery vehicles, vendor vehicles, bookmobiles, and remote telecommunication medical diagnosis vehicles. In addition, the company has launched the Sharing-VAN commercialization program and is preparing to bring the vehicle into production.


Strategic alliance with Huawei ・ In August 2018, the Dongfeng Motor Group signed a strategic cooperation agreement with Huawei that further deepens the strategic alliance that it formed with Huawei in 2014 to cooperate in the areas of intelligent, connected, electrification, mobility, and information as well as innovation in advanced technologies.
・ The purpose of the alliance is to fully leverage the technological expertise of both companies to develop next-generation electric intelligent and connected cars and provide superior electric-powered intelligent-connected vehicles (ICVs) and services to users.
・ With regards to collaboration in the field of information, the alliance will focus on technologies such as cloud computing, big data, industrial IoT (Internet of Things), and cybersecurity, as well as the digital transformation of the Dongfeng Motor Group.
・ The enhanced partnership will focus on innovation in the application of advanced technologies in such fields as AI (artificial intelligence) and 5G mobile communications for the purpose of offering consumers safe and enjoyable mobility solutions.
Establishment of an innovation laboratory in collaboration with Tencent ・ In June 2019, Dongfeng officially signed a strategic cooperation agreement with Tencent in areas related to internet technologies and announced the join establishment of the an innovation lab to conduct research on cutting-edge vehicle technologies.
According to the strategic agreement, the two companies will collaborate in seven fields including IoV connected cars, security, autonomous driving, intelligent mobility, intelligent logistics, joint innovation, and digital transformation.
・ In September 2019, the Xinhua news service reported that Dongfeng and Tencent's vehicle connectivity safety laboratory and the Dongfeng Motor-China Mobile 5G Vehicle Connectivity Laboratory were officially launched at Dongfeng Motor Corporation.


Mobility company established by Dongfeng, FAW and Changan ・ In July 2018, the Dongfeng Motor Group, the FAW Group, and Changan Automobile signed a basic agreement to establish a mobility joint venture and later in the same month a strategic framework agreement regarding the logistics associated with the ride-hailing company.

・ In March 2019, the Dongfeng Motor Group, the FAW Group, and Changan Automobile signed the formal agreement to establish the mobility company known as T3 Mobility. T3 Mobility will be operated jointly by the 3 companies by the pooling of their human resources, technology, organizations, and funding to operate intelligent mobility services by the sharing of information and cloud platforms.
・ Tencent, Alibaba, Sunning, and others have also invested in T3.

・ In July 2019, a brand strategy presentation was held to officially launch the T3 Mobility intelligent mobility platform service. T3 Mobility is a connected car mobility platform that provides enhanced travel experiences to users constructing a V.D.R (Vehicle-Driver-Road) security system based on Internet of Vehicles (IoV) vehicle connection technologies. The services will be introduced gradually in phases. From 2019 to 2021, T3 Mobility will focus on the operation of online ride-hailing dispatch services, and launch 20,000 vehicles to the market by the end of 2019. Within three years, it will increase the number of vehicles to be introduced to 300,000, with the goal of introducing 1 million units in six years from now. From 2021 to 2025, T3 Mobility will steadily develop its derivative businesses and partner with others in the industrial chain in fields such as smart charging, maintenance, insurance, financing and leasing. From 2025, with the T3 Mobility platform, the company aims to become a leader in smart mobility and become an impetus for promoting smart cities.
Smart mobility project ・ In April 2019, Dongfeng Motor Group officially announced that it had officially signed a strategic cooperation framework agreement with the government of Xiangyang City, Hubei Province and Huawei concerning the "Zhixinglongzhong" project. The three parties aim to jointly make Xiangyang a national smart connected car demonstration model zone, an innovative test area of smart mobility and smart logistics, and a smart transportation benchmark city.
・ The "Zhixinglongzhong" project will be implemented to address four mobility processes, including a smart car ecosystem, smart mobility, smart logistics, and a smart transportation cloud platform.
Announcement of vehicle dispatch service "DFGO" ・ In May 2019, Dongfeng announced the official release of the dispatch service "DFGO". The transportation service platform provides users with mobility products and services such as car hailing, car sharing, taxi hailing, charging, public transportation, commuting, and logistics. In the first phase, DFGO will launch a total of 10,000 vehicles to provide services in the cities of Wuhan, Shiyan and Xiangyang by the end of 2019. In the second phase, within two years, DFGO will increase the number of vehicles it operates to 100,000, based on its demonstration cities model, and deploy these to other cities in Hubei province and to cities where Dongfeng Motor has a presence. In the third phase, DFGO plans increase the number of vehicles it operates to 500,000 vehicles, and expand its services from the province of Hubei to the rest of China.
・ As of May 2019, DFGO established five service centers and a charging network that covers the entire province of Hubei with 470 charging stations and over 4,000 chargers. The company has also established training facilities for driver training.




Overseas expansion: Aggressive advancement into Africa

 Dongfeng Motor, which is strong in the commercial vehicle segment, in recent years has been actively expanding overseas passenger car business. Since the second half of 2018, there has been significant activity with regards to KD (knock-down) production in Africa. Dongfeng is in discussions with the Egyptian government regarding allowing Dongfeng to export EVs to Egypt and to allow local production. The information in the table below summarizes some of the key overseas strategic initiatives of the Dongfeng Motor Group for its own brand vehicles.

Ethiopia ・ In November 2018, the company announced that 37 KD (knock-down) sets of the medium-duty "Dongfeng Tianjin KR" truck that were shipped from Dongfeng Commercial Vehicle Co., Ltd. in Shiyan City, Hubei Province had arrived in Ethiopia. The KD plant plans to have a production capacity of 2,000 units per year.
Egypt ・ In July 2019, the Ministry of International Trade and Industry of Egypt announced that it held discussions with a delegation from Dongfeng Motor regarding the production of EVs in Egypt. The minister of the Egyptian Ministry of Trade and Industry stated that he would arrange visits to a number of Egyptian automakers, including Al-Nasr Motors, to allow Dongfeng Motor to negotiate entering into partnership agreements with Egyptian state-owned manufacturing companies to produce electric vehicles. Going forward, Dongfeng plans to export a numbers of EVs to Egypt to conduct field testing for performance compliance under local climatic conditions.
Tunisia ・ In March 2018, Dongfeng signed an agreement on KD assembly with Tunisia's COMMET, which has offices and a plant in North Africa. The company received approval from the Tunisian government to assemble and sell KD vehicles of Dongfeng brand sedans and permission to build one SKD (semi knock-down) production line.
・ In May 2019, Dongfeng launched the start of sales of its S50 sedan model in the capital city of Tunis.
Peru ・ In November 2019, Dongfeng held the 2019 Peru Dongfeng Night event to showcase its own-brand passenger cars along with the launch ceremony of its new vehicles, the Dongfeng AX4, AX7, and SX6. In 2017 Dongfeng had a sales network of 17 outlets in Lima. The company plans to establish a flagship store and after-sales service center in Lima at the end of 2019, and a representative office in Lima in 2020.
Chile ・ Dongfeng completed the establishment of a business representative office in Chile at the end of 2018. Dongfeng Motor's sales volumes in the country of Chile reached 5,000 in 2018. Currently, Dongfeng offers a wide range of models in Chile including SUVs, MPVs and pickups.

 (For information prior to August 2018, see the MarkLines report “Overseas expansion of Chinese OEMs under the Belt and Road Initiative”)



Sales overview: Foreign equity joint ventures are sluggish, and 2019 group sales are below the target of 4 million units

 Although the Dongfeng Motor Group steadily increased its sales volumes every year in the past, its sales volumes have been declining since 2017, and in 2018 sales fell by 7.0% YoY to 3.783 million units, the same level as that in 2014. Sales of Dongfeng’s foreign equity joint ventures accounted for about 70% of its total sales volume in the 2016 to 2018 timeframe. As a result, the decline in sales of its foreign equity joint venture OEMs negatively impacts the entire Dongfeng Group's overall sales.

 Dongfeng Nissan Passenger Vehicle Co. (Dongfeng Nissan), which has the highest sales volumes within the group, sold 1.317 million units in 2018, accounting for 34.8% of the entire group’s total sales. Despite the introduction of the completely remodeled, all-new Sylphy and Altima, Dongfeng Nissan sales volumes during the January to October 2019 timeframe have remained unchanged from the previous year.

 Although its other foreign equity joint ventures have struggled, Dongfeng Honda, which has been steadily increasing sales, enjoyed strong sales of its global models, the CR-V and Civic, showing a 14.7% increase YoY in the January to October 2019 timeframe to 648,000 units. In October 2019, Dongfeng Honda released its first EV, the X-NV.

 Renault is expanding its model portfolio and launched the City K-ZE compact pure-electric SUV manufactured by eGT New Energy Automobile Co., Ltd., and continues to accelerate its electrification efforts. Dongfeng Peugeot-Citroën Automobile Limited (Dongfeng PSA), whose sales volume has been declining significantly, has announced a restructuring plan and is working to revitalize both its manufacturing and sales operations. As a result of the merger of PSA and FCA announced on December 18, 2019, Dongfeng Motor Group Co., Ltd., a major shareholder of PSA, decreased its shareholding in PSA from 12.23% to 4.5%.



2018 vehicle
(thousand vehicles)



Major Brand / Model
Foreign equity JVs Dongfeng Nissan 1,173.8 4.0% Nissan brand : X-Trail, Murano, Kicks, Qashqai, Altima, Bluebird Sylphy/Sylphy, New Sunny/ Sunny, Maxima, Teana/New Teana, Lannia, Tiida 2box/ Tiida 3box, Livina
132.1 -7.8% Venucia brand : M50V, T60, T70, T90, D60
11.1 54.7% Infiniti brand : QX50, Q50
Zhengzhou Nissan 27.5 18.5% NV200, Succe, Rich, Terra, Fengdu
Dongfeng Honda 720.7 0.9% JADE, Elysion, CR-V, UR-V, XR-V, Envix, Gienia, Civic, Spirior, Greiz
Dongfeng Yueda Kia 371.3 3.1% KX CROSS, KX5, KX7, Sportage R, KX3, Yipao, K2, K3, K4, K5, K4 Cachet, Kia Forte, Pegas, Cerato, Horki
Dongfeng PSA 114.2 -12.7% Citroen brand : C3-XR, C4 Aircross, C5 Aircross, C4/ Citroen Quatre, Elysee, FU KANG ES500
139.2 -43.6% Peugeot brand : 3008, 4008, 5008, 2008, 301, 308, 408, 508
Dongfeng Renault 50.1 -30.6% Kadjar, Koleos, Captur
JVs Dongfeng Motor 261.5 -18.0% Glory brand : 330, 370N, 580, S560, EC36
Dongfeng Sokon brand : 580
Dongfeng Liuzhou 128.4 -44.2% Fengxing Joyear /Jingyi brand : T5, X5, X6, S50, Lingzhi
Dongfeng Yulon 7.0 -63.0% Luxgen brand : 7, U5, URX, 6, 5, Rui3 (S3), Yulu EV2
Own brands Dongfeng Motor 531.4 -1.6% Semi Trailer, Light trucks, Small Buses, Heavy trucks, Large Buses, Medium trucks, Medium Buses, Mini trucks
Dongfeng Motor Corp. Passenger Vehicle 95.3 -23.8% Fengshen brand : AX5, AX3,  AX4, AX7, A30, A60, A9, E70, H30, L60, Yixuan
Dongfeng Automobile 19.2 145.5% Junfeng brand

(Source: Created based on MarkLines' database)

東風汽車グループの主要メーカー別販売 東風汽車グループにおけるメーカー別販売台数推移




Initiatives of major joint venture OEMs: Nissan, Honda launch electric vehicles, Kia and PSA suspend factory operations

Dongfeng Motor Company Limited (DFL)

 Dongfeng Motor Co., Ltd. (DFL) is a 50:50 joint venture between Nissan Motor Co., Ltd. and the Dongfeng Motor Group, and includes Dongfeng Nissan Passenger Vehicle Company (Dongfeng Nissan), Dongfeng Venucia Automobile, Dongfeng Infiniti Motor Co., Ltd., and Zhengzhou Nissan Automobile Co., Ltd. Dongfeng Motor Group is the only company in China with which Nissan has formed a joint venture. In February 2017, Venucia became a brand independent of Dongfeng Motor Co., Ltd., and was established as Dongfeng Venucia Motor Company. Venucia has been actively developing its own brand models since being spun off as an independent subsidiary.

 In February 2018, Nissan announced a new mid-term business plan that aims to achieve annual sales of 2.6 million units and sales of CNY 300 billion in China by 2022. The company will launch more than 40 models and introduce Level 1 and Level 2 autonomous driving technologies. Venucia, which has targeted the young generation market segment, places a priority on connectivity technology. Dongfeng Nissan is in the process of constructing a new plant in Wuhan, which will manufacture gasoline-powered vehicles and EVs, with an annual production capacity of 300,000 units, and the company also plans to build a plant to manufacture electric drive motors locally in China. The company will deploy models equipped with its e-POWER 100% electric motor drive system to meet the market demand for electrification, and will electrify all models in China by 2025.

Annual sales of 2.6 million units and sales of CNY 300 billion by 2022 ・ In February 2018, Nissan announced its new mid-term business plan that aims to achieve annual sales of 2.6 million units by 2022 and revenues of CNY 300 billion. The company plans to launch more than 40 models by 2022. (This includes tripling the sales volumes of Venucia and Infiniti, and doubling the sales volumes of light commercial vehicles, pickup trucks, frame vehicles, SUVs, and vehicles for export.)
・ The mid-term plan includes the promotion of intelligent mobility. Specifically, Level 1 and Level 2 autonomous driving technologies will be introduced from 2019. The Venucia brand is leading the way in China with regards to connectivity technology.
・ By 2022, Nissan expects that 30% of all vehicle sales will be for electrified vehicles. Infiniti vehicles will comprise 25% of its electrified product lineup by 2022, with plans to electrify all models by 2025. The company plans to introduce industry cutting-edge e-component technology and promote the local manufacturing of these components in China.
Plan to build 300,000 units per year ・ In August 2018, Dongfeng Nissan received approval from the Hubei Development Commission build a new plant in Wuhan. The total investment amount of the project is CNY 9.851 billion. The new plant will be located at the Fenghuang Industrial Park in the Wuhan Economic and Technological Development Zone (Wuhan EDZ) and will be constructed in two phases, from January 2019 to December 2022. The plant will have a production capacity of 300,000 vehicles annually including gasoline-powered vehicles and EVs.
Plant renovation of manufacturing site in East China ・ In June 2018, Dongfeng signed a cooperation agreement with the government of Changzhou City, Jiangsu Province to renovate a plant to build 120,000 passenger cars. The partners will invest an additional CNY 1 billion to renovate the plant, with production scheduled to start in the first quarter of 2020. The plant will be located in the Changxin District of Changzhou City and will serve as Dongfeng Motor's strategic manufacturing site in East China.
Construction of electric drive motor plant ・ In June 2019, Dongfeng Nissan signed an agreement to build a plant as part of the "Nissan Electric Drive Motor Localization Project". The total investment amount is expected to exceed CNY 1 billion, and the value of the plant’s annual production output is expected to reach CNY 3 billion by 2030. The project will invest in system technologies and products for drive motors and electrical control units for Nissan’s e-POWER 100% electric motor drive system. The manufacturing site will be located in the Wuhan EDZ (Hannan District).
Construction of mobility model zone ・ In May 2019, Dongfeng Motor signed a strategic alliance agreement with the government of Laohekou City, Hubei Province to build a mobility model development zone. Both parties will leverage Dongfeng Motor's strengths in the automotive industry and NEV technologies, as well as the policy environment, geographical advantages and industrial characteristics of Laohekou City, to build model city routes in Laohekou City, and to provide mobility services, logistics, and cloud services through collaboration in areas such as public transportation.

Dongfeng Venucia

Connected field ・ Dongfeng Venucia Motor Company concluded a strategic alliance agreement with Autonavi in August 2017. The two companies will cooperate in areas such as location-based services, map platforms, mobility services, and internet-based financing.
・ In March 2018, Dongfeng Venucia concluded a strategic alliance agreement with iFLYTEK, a speech recognition software company. The two companies will leverage their resources to collaborate in areas such as intelligent human-computer interaction, in-vehicle intelligence, big data analytics, connected car platforms, intelligent customer services, and sales and marketing.
Establishment of Advanced Design Center ・ In April 2018, Dongfeng Venucia established the Dongfeng Venucia Design Center in Shanghai to promote product R&D and enhance its competitiveness. The design center is primarily responsible for advanced design engineering, taking into account Chinese consumer needs and promoting the research and development of models to meet market segmentation needs. Dongfeng Venucia also has a design center located in Guangzhou.

新型Sylphy Venucia D60 EV
The all-new Sylphy, best-selling compact sedan Venucia D60 EV


Dongfeng Honda

 Dongfeng Honda, the best-performing OEM among the Dongfeng Motor Group’s foreign equity joint ventures, reported sales of 648,000 units in the January to October 2019 timeframe, up 14.7% from the same period over the previous year. In April 2019, the company completed construction of a plant with an annual production capacity of 120,000 vehicles and the capability to manufacture electric vehicles. The plant is manufacturing Dongfeng Honda's first electric vehicle, the X-NV. This model, released in October 2019, is also a connected car that was developed based on the XR-V compact SUV platform.

 Furthermore, Dongfeng Honda plans to launch more than 10 electrified models over the next five years, with plans to launch Dongfeng Honda's first PHV (plug in hybrid) model in 2020.

Completed construction of third plant for electric vehicles ・ In April 2019, Dongfeng Honda completed construction of its third plant in Wuhan, Hubei Province. With a total investment amount of approximately CNY 3 billion, a site area of 983,000 square meters and a yearly production of 120,000 units, the plant has the capability to manufacture electric vehicles and flexibly respond to product evolution.

X-NV CONCEPT exhibited at the Shanghai Auto Show 2019


Dongfeng Yueda Kia

 Dongfeng Yueda Kia Motor Co., Ltd. (DYK) is a joint venture OEM among three companies, Kia Motors (50%), the Dongfeng Motor Group (25%), and the Yueda Group (25%), which is headquartered in Yancheng, Jiangsu Province. Since the incident in 2017 relating to North Korea’s decision to deploy its high-altitude ballistic missile defense system targeted at South Korea, the company has experienced a sharp decline in sales volumes and lost its previous momentum in the China market. From January to October 2019 sales remained sluggish, resulting in a 12.5% decline in sales to 244,000 units.

 In spite of its efforts, the company has been unable to turnaround the decline in sales, and there have been multiple media reports that the company’s Plant No. 1 in Yancheng, Jiangsu province was scheduled to be shuttered by the end of June 2019. In addition, the company has currently suspended construction of its planned fourth plant.

 In June 2019, Dongfeng Yueda Kia, the Yueda Group, and the emerging EV maker Human Horizons announced a strategic alliance to cooperate in fields such as NEV manufacturing and the supply chain. The first NEV model to be manufactured by Human Horizon is scheduled to be launched to market in 2021. For reference, the model was scheduled to be manufactured at Dongfeng Yueda Kia's No. 1 Plant, which has suspended all production.

Suspension of production at Plant No. 1 and production of NEV models by emerging EV manufacturer ・ Multiple media sources reported that DYK’s Plant No. 1 located in Yancheng City, Jiangsu Province would suspend production operations by the end of June 2019 and lease production of NEVs long-term to the emerging EV maker Human Horizons, targeting the premium segment of the growing electric car market in China.
・ In June 2019, Dongfeng Yueda Kia, Yueda Group, and Human Horizons signed a strategic alliance agreement to collaborate in a number of areas, including NEV manufacturing and the supply chain. The first NEV model to be manufactured by Human Horizons is scheduled to be launched to market in 2021.
Battery supply from SK Innovation ・ In December 2019, the media reported that SK Innovation is planning to build a new electric vehicle battery plant in Yancheng City, Jiangsu Province, close to the Yancheng Plant of DYK. The batteries manufactured at the plant will be supplied to Dongfeng Yueda Kia.



Dongfeng Renault

 In 2018, the sales volumes of Dongfeng Renault Automobile Company (Dongfeng Renault), which has been manufacturing vehicles at its Wuhan Plant since it started operations in February 2016, decreased 30.6% YoY to 50,000 units. In 2019, during the January to October period, sales have decreased significantly by 73.1% YoY to 13,000 units. Many OEMs have introduced SUV models; the SUV market is fragmented and competition has intensified, but Dongfeng Renault has few models to deploy in the SUV segment. Going forward, Dongfeng Renault will launch 11 new models by 2020, and execute full electrification of its product portfolio by 2025.

 In November 2019, Dongfeng Renault's announced its first electric SUV, the City K-ZE, at the Guangzhou Motor Show. The model is manufactured by eGT New Energy Automobile Co., Ltd., which is a joint venture established between the Renault-Nissan Alliance and the Dongfeng Motor Group in August 2017; and the JV is owned 50% by Dongfeng, 25% by Renault, and 25% by Nissan.

Dongfeng, Renault and Nissan to manufacture electric vehicles ・ In August 2017, the Renault-Nissan Alliance and the Dongfeng Motor Group reached an agreement to establish a new joint venture to manufacture electric vehicles. The new JV will be owned 50% by Dongfeng, 25% by Renault, and 25% by Nissan.
・ The headquarters of the new company, eGT New Energy Automobile Co., Ltd., (eGT) is located in the Shiyan Economic and Technological Development Zone (EDZ) in Hubei Province, utilizing the plant formerly owned by DFSK Motor Co., Ltd. With a production capacity of 120,000 units, the company plans to export 30,000 per year. Export destinations include Europe, South Asia and South America.
・ In September 2019, Dongfeng Renault announced the launch of the City K-ZE, its first pure-electric SUV at the Chengdu Motor Show.
11 models by 2020, full electrification by 2025 ・ In October 2019, Dongfeng Renault announced that it will actively roll out new models of crossover SUVs, sedans, and MPVs over the next three years, introducing 11 models to market by 2020. The company will introduce one domestic model and one imported model in each of those years, and for important models, one major new model each year.
・ Dongfeng Renault’s new model rollout plan covers a wide range of powertrains, including internal combustion engines, EVs, and HVs, with plans to realize the ability to offer electrified variants across its entire product portfolio by 2025.

City K-ZE City K-ZE
City K-ZE


Dongfeng PSA

 Dongfeng Motor Group Co., Ltd. is a PSA shareholder and operates a joint venture, Dongfeng Peugeot-Citroën Automobile Co., Ltd. (Dongfeng PSA). Compared to the product portfolio of Changan PSA, whose joint venture was announced to be terminated in November 2019, Dongfeng PSA has launched many models, but its sales volumes have been decreasing yearly. In 2016 Dongfeng PSA sold 600,000 vehicles, but in 2018 its sales volumes fell to 253,000 units. Sales in the January to October 2019 timeframe have decreased by 54.8% YoY to 101,000 units, with the decline in sales showing no signs of stopping.

 In light of these circumstances, in September 2019 the company announced a revitalization plan targeting an annual sales volume of 400,000 units by 2025. Dongfeng PSA plans to launch 14 new models in the 2020 to 2022 timeframe. The introduction of eco-friendly vehicles has been slow compared to other companies, but Dongfeng PSA plans to launch four electrified models in 2020, which will begin with the brand's first electric SUV, the e-2008, that was introduced at the Guangzhou Motor Show in November 2019. On the sales distribution side of its operations, to reduce investment and operating costs at dealerships, the company opened its first dealership in September 2019 that will in parallel be distributing vehicles for both the Peugeot and Citroen brands.

 On December 18, 2019, the merger of PSA and FCA was announced. Dongfeng Motor Group Co., Ltd. is a major PSA shareholder, and its stake in PSA will decline from 12.23% to 4.5% in the new company after completion of the merger. According to the merger announcement, the business of Dongfeng PSA will be extended until 2037, and Dongfeng PSA will export PSA models, and release new brands and new models.

Revitalization plan ・ In September 2019, Dongfeng PSA announced ‘the bottom line’ of its revitalization plan. The plan is divided into three phases, with the goal of selling 400,000 vehicles by 2025.
・ The goal of the first “stabilization” phase is to reduce its break-even point to 180,000 units or less and return its cash flow to profitability by the end of 2019. In the second “recovery” phase the company plans to sell 250,000 vehicles a year, with an even lower break-even point of 150,000 or less in the 2020 to 2021 timeframe. In the third “development” phase, Dongfeng PSA is targeting to sell 400,000 units annually in the 2022 to 2025 timeframe.
・ In addition, the company plans to launch 14 new models during the period from 2020 to 2022, as well as develop eco-friendly variants for all new models. There are three types of eco-friendly vehicles: EVs, PHVs (plug-in hybrids) and MHVs (mild hybrids). The company plans to sequentially launch 4 eco-friendly vehicles in 2020.
Peugeot and Citroen to be sold jointly ・ On September 30, 2019, to reduce investment and operating costs at dealerships, the company opened its first dealership that will in parallel be distributing vehicles for both the Peugeot and Citroen brands.
Established mobility service company ・ In January 2018, Dongfeng PSA signed an agreement to establish a joint venture to provide mobility services with the investment amount shared among Dongfeng Electric Vehicle Co., Ltd., Wuhan Electrical Automobile Demonstration Management Co., Ltd. (Wuhan EADM) and the Group PSA.
・ In September 2018, the company announced the launch of its brand Free2Move Carsharing service that will operated by its joint venture Fengbiao Carsharing Company. The model that will be launched into service is Dongfeng Fengshen's E30L compact EV, and the service in Wuhan will be initially launched with a fleet of 300 vehicles. Wuhan City plans to expand the fleet to 3,000 units.
・ In March 2018, Dongfeng Motor Group and Group PSA signed an agreement to form a financial leasing joint venture, capitalized at CNY 300 million. The equity sharing ratio of the JV is 50% for Dongfeng PSA, 25% for Dongfeng Motor Group, and 25% for PSA Finance Nederland D.V. The JV will develop mobility services using Dongfeng Citroen brand vehicles and DS Automobile brand vehicles.
・ In April 2019, the company will open an office in Beijing.


Dongfeng Liuzhou

 Dongfeng Liuzhou Motor Co., Ltd. (Dongfeng Liuzhou) is a joint venture that is 75% owned by the Dongfeng Motor Group Co., Ltd. and 25% owned by the Guangxi Liuzhou Industrial Investment Development Group Co., Ltd. According to Dongfeng Liuzhou, the company sold 183,039 vehicles in 2018, 55,033 units of which were commercial vehicles. The two main brands of Dongfeng Liuzhou are the “Dongfeng Fengxing” brand, which sells passenger cars, SUVs, and MPVs, and the “ChengLong” commercial vehicle brand, which sells tractor trailers and freight vehicles. The Lingzhi, a top 10 best-selling MPV in the first half of 2019, is also a model of Dongfeng Liuzhou. Dongfeng Liuzhou, which offers a broad commercial vehicle model lineup, opened a commercial vehicle manufacturing site in the Liudong New District of Liuzhou City, Guangxi Province, and engaged in a project relating to the construction of an R&D center.

 On December 15, 2019, Dongfeng Fengxing brand announced that it is forecasting sales of 125,000 units in 2019. Also, its sales target for 2020 is 160,000 units. The company will be focusing on MPVs in its model lineup.

Establishment of commercial vehicle manufacturing site ・ In December 2017, Dongfeng Liuzhou held a line-off ceremony to commemorate the start of construction of the Liudong Commercial Vehicle Plant. The newly constructed Liudong Commercial Vehicle Plant will have a total site area of 3,191.5mu (about 316,512 square meters), with a first phase investment of CNY 2 billion and a future annual production capacity of 100,000 units (medium- and heavy-duty trucks).
Announced CV model with autonomous driving technology ・ In September 2019, Dongfeng Liuzhou and the Changsha Intelligent Driving Institute (CiDi) released the Chenglong T7, a heavy-duty truck equipped with jointly-developed Level 4 autonomous driving technology. In addition, Dongfeng Liuzhou and CiDi also signed a strategic alliance agreement to jointly promote the manufacture of intelligent trucks and the popularization of intelligent drives in commercial vehicles.


Dongfeng Sokon (DFSK)

 Dongfeng Sokon Motor (DFSK) is a finished vehicle manufacturer focused on the production of small vehicles, which was established in 2003 as a 50:50 joint venture between the Dongfeng Motor Group and the Chongqing Sokon Industry Group Co., Ltd. According to the 2019 first half (H1) financial report released by DFSK, the company was ranked 10th in sales of own-brand passenger cars in 2018. DFSK operates 4 plants and is currently relocating its No. 1 Plant in Shiyan to the Shiyan Economic and Technological Development Zone in Hubei Province, which will have an annual production capacity of 200,000 units, and is scheduled to be completed by the end of 2021.

 In September 2019, it was announced that the Dongfeng Motor Group would acquire an additional 50% stake in Dongfeng Sokon (DFSK). After the transaction has been completed, Dongfeng will own 100% of Dongfeng Sokon, making it a wholly-owned subsidiary. In parallel, the Dongfeng Motor Group will acquire a 25.8% stake in Sokon (Chongqing Sokon Industry Group Co., Ltd.).

EV production activities in Indonesia ・ PT Sokonindo Automobile, which manufactures DFSK brand vehicles in Indonesia, again on December 16, 2019 urged the Indonesian government to clarify its regulations related to electric vehicles in Indonesia.
・ Although PT Sokonindo Automobile is capable of manufacturing EVs at its plant in Chikande, Indonesia, the company believes it is too early to decide whether to manufacture EVs because of a number of uncertainties that may affect production such as the spread of infrastructure and the market reaction to EVs.
Export of light commercial vehicles from Indonesia to the Philippines ・ In September 2019, DFSK announced a partnership with local QSJ Motors to sell the Indonesian-made light commercial vehicle Super Cab in the Philippines. The company will supply left-hand drive vehicles produced at the Chikande plant in Indonesia to the Philippines as CBUs (completed built units).




Dongfeng Motor Group sales numbers in China (factory shipments)


OMEs Type Model 2016 2017 2018 Jan.-Oct.
Dongfeng Nissan  MPV Venucia M50V 0 11,178 4,768 3,710 1,894
SUV Infiniti QX50 8,084 7,148 11,057 7,498 17,848
X-Trail 180,202 184,711 207,951 168,007 173,620
Venucia T60 0 0 2,726 0 11,598
Venucia T70 72,399 52,640 36,765 29,920 11,934
Venucia T90 2,481 45,522 22,936 20,131 8,616
Murano 20,537 25,083 27,865 22,279 19,689
Kicks 0 45,969 35,864 28,642 39,822
Qashqai 139,684 152,637 175,045 142,583 146,191
Altima - - - 0 75,298
Venucia R30 2,751 5 0 0 0
Infiniti Q50 0 0 0 0 8,604
Venucia 1,916 4 0 0 0
Venucia D50 12,231 3,665 0 0 0
Venucia D60 0 17,831 64,872 53,491 58,194
Venucia R50 22,605 12,361 1 1 0
Bluebird Sylphy/Sylphy 367,979 405,854 481,216 369,837 290,496
New Sunny/Sunny 74,413 28,878 7,622 5,748 1,583
Maxima 2,279 1,044 1,406 1,381 4
Teana/New Teana 90,279 113,857 112,694 91,970 679
18,047 20,618 17,811 14,459 0
Lannia 78,976 65,128 37,751 31,500 43,690
March 86 2 0 0 0
Tiida 2box/Tiida 3box 40,320 78,598 59,738 49,671 63,357
Livina 8,763 6,039 8,854 6,421 5
14th Sylphy/Sylphy - - - 0 72,222
Total 1,144,032 1,278,772 1,316,942 1,047,249 1,045,344
Dongfeng Honda MPV JADE 32,024 42,662 41,714 34,033 13,212
Elysion 31,097 40,160 50,095 41,636 23,699
SUV CR-V 180,319 183,302 143,689 100,972 169,776
UR-V 0 43,324 45,865 38,074 23,586
XR-V 161,867 161,352 168,250 138,523 117,378
DE1 - - - 0 296
Inspire 0 0 8,085 1,391 44,980
Envix - - - 0 38,974
Gienia 9,287 26,247 17,550 13,276 6,629
Civic 90,014 172,482 218,132 173,718 203,213
Ciimo 1,176 0 0 0 0
Spirior 23,487 18,726 9,658 9,658 0
Greiz 40,806 26,002 17,651 14,050 6,460
Total 570,077 714,257 720,689 565,331 648,203

Dongfeng Motor
Semi Trailer Semi Trailer(25t-40t) (Dongfeng Motor) 47,548 63,806 50,123 40,941 47,819
Semi Trailer (Under 25t) (Dongfeng Motor) 6,185 19,548 23,837 18,226 25,570
Light trucks 93,179 108,608 117,386 91,981 114,583
Light trucks (Chassis) 34,293 47,488 47,212 40,704 43,040
Small Buses 8,301 11,948 10,602 6,995 8,041
Small Buses (Chassis) 20,481 19,665 15,868 11,468 10,257
Heavy trucks 14,213 26,544 27,578 23,742 16,885
Heavy trucks(Chassis) 74,694 106,187 115,489 96,611 107,912
Large Buses 347 216 0 0 2
Large Buses (Chassis) 42 7 0 0 0
Medium trucks 21,582 16,392 9,922 8,965 6,179
Medium trucks (Chassis) 34,921 24,981 20,179 16,537 11,265
Medium Buses 3,097 2,738 2,787 1,783 1,561
Medium Buses (Chassis) 9,486 7,662 3,662 2,973 2,925
Mini trucks 71,073 84,257 86,753 72,397 64,500
Total 439,442 540,047 531,398 433,323 460,539
Dongfeng Yueda Kia SUV KX CROSS 0 27,521 63,682 49,926 19,964
KX5 64,414 19,311 5,951 4,949 6,077
KX7 0 5,548 2,027 1,845 34
Sportage 9,249 0 0 0 0
Sportage R 76,476 31,626 89,493 65,231 72,696
KX3 68,913 8,751 2,162 1,402 298
Yipao 0 0 20,626 12,311 32,330
K2 117,864 52,309 19,604 18,650 975
K3 192,395 138,356 77,920 58,756 30,010
K4 34,100 9,277 1 1 0
K5 34,623 27,840 14,537 9,814 3,458
Horki 5 478 979 234 675
K4 Cachet 0 9,945 19,337 15,525 5,244
Soul 1,140 0 0 0 0
Unclassified 35,647 0 0 0 0
Kia Forte 7,549 11,178 4,611 4,475 8,404
Pegas 0 10,612 43,837 29,590 59,713
Cerato 7,631 7,254 6,495 5,673 3,752
Total 650,006 360,006 371,262 278,382 243,630
DFSK Motor

MPV Dongfeng Sokon 168,579 0 0 0 0
Glory 330 0 81,619 35,045 30,709 18,776
Glory 370 0 14 0 0 0
Glory 370N 0 0 2,090 1,833 208
SUV Dongfeng Sokon 86,760 0 0 0 0
Dongfeng Sokon 580 - - - 0 7,363
Glory 580 0 176,309 110,975 95,823 51,107
Glory ix5 0 0 8,689 1,327 14,309
Glory ix7 0 0 28 0 0
Glory S560 0 13,209 60,101 49,146 44,657
Dongfeng Fengguang E1 - - - 0 8
Mini Van EC36 0 2,302 7,200 1,649 353
Dongfeng Sokon 51,254 45,519 37,419 32,197 31,252
Total 306,593 318,972 261,547 212,684 168,033
Dongfeng PSA SUV C3-XR 73,461 22,643 15,978 14,939 4,573
C4 Aircross 0 0 1,162 878 2,409
C5 Aircross 0 22,603 23,340 20,301 13,187
Peugeot 3008 44,293 17,945 3,719 3,597 2,630
Peugeot 4008 9,002 52,013 31,859 27,471 15,405
Peugeot 5008 SUV 0 23,566 20,588 18,317 7,359
Peugeot 2008 31,831 11,001 3,417 3,318 811
Citroen Quatre 78,795 22,609 25,027 21,227 2,397
C5 5,042 8,435 5,070 4,576 715
C6 4,079 5,947 3,925 3,683 1,878
Elysee 87,132 48,588 39,365 34,476 20,111
Peugeot 207 2 0 0 0 0
Peugeot 301 73,641 29,098 16,287 14,569 4,827
Peugeot 307 6 0 0 0 0
Peugeot 308 83,429 56,525 36,193 32,522 10,610
Peugeot 408 100,156 55,693 27,080 23,239 8,341
Peugeot 508 7,004 881 19 19 4,327
FU KANG ES500 0 0 330 0 1,200
Fengshen L60 2,364 0 0 0 0
Total 600,237 377,547 253,359 223,132 100,780
Dongfeng Liuzhou MPV Lingzhi 90,700 79,177 62,269 53,927 53,401
Fengxing S500 71,653 6,665 0 0 0
Fengxing Joyear (Jingyi) 2,944 0 1 0 0
SUV Fengxing T5 - - - 0 36,227
Fengxing Joyear SX6 15,463 26,377 0 0 0
Fengxing Joyear X3 42,316 38,648 0 0 0
Fengxing Joyear X5 28,323 58,770 44,807 38,868 0
Fengxing Joyear X6 0 8,256 14,352 12,476 0
Fengxing Joyear S50 9,901 12,485 7,008 5,152 5,285
Total 261,300 230,378 128,437 110,423 94,913
Dongfeng Motor Corp. Passenger Vehicle SUV Fengshen AX5 2,246 14,969 4,545 3,464 920
Fengshen AX3 36,575 12,315 2,440 2,190 1,424
Fengshen AX4 0 12,911 6,327 5,331 1,830
Fengshen AX7 62,741 38,885 45,829 34,918 30,445
Fengshen A30 4,538 1,903 319 63 15
Fengshen A60 23,303 7,535 4,007 3,377 1,603
Fengshen A9 1,768 1,534 257 222 228
Fengshen E30 455 131 0 0 0
Fengshen E70 0 2,561 8,197 4,865 10,594
Fengshen H30 14,950 29,472 21,744 21,744 0
Fengshen L60 0 2,357 1,646 1,506 375
Fengshen S30 1,153 445 0 0 0
Fengshen Yixuan - - - 0 7,408
Total 147,729 125,018 95,311 77,680 54,842
Zhengzhou Nissan MPV NV200 10,460 8,879 9,181 7,510 3,718
Succe 6,538 3,850 2,637 1,650 925
SUV Rich 305 608 631 300 246
Oting 47 0 0 0 0
Terra 0 0 12,549 9,126 7,511
Fengdu 7,590 4,671 2,194 1,940 462
Fengdu MX3 0 0 27 27 0
Fengdu MX5 3,461 5,197 312 312 0
Paladin 1,627 30 0 0 0
Total 30,028 23,235 27,531 20,865 12,862

SUV Kadjar 23,979 25,727 17,397 16,213 4,559
Koleos 6,027 46,461 32,715 31,188 7,785
Captur - - - 0 410
Total 30,006 72,188 50,112 47,401 12,754
Dongfeng Automobile Sedan/
Junfeng 0 7,832 19,226 10,980 7,446
Junfeng ER30 4,347 0 0 0 0
Total 4,347 7,832 19,226 10,980 7,446
Dongfeng Yulon MPV Luxgen 25 12 0 0 0
 Luxgen 7 2,027 1,076 415 403 0
SUV Luxgen U5 0 5,556 2,482 2,480 563
Luxgen URX - - - 0 69
Luxgen 7 1,211 180 0 0 0
Luxgen U6 30,817 8,954 3,655 3,568 57
Luxgen 5 2,666 142 118 111 0
Luxgen Rui3 (S3) 3,753 2,314 109 105 38
Yulu EV2 15 566 180 0 87
Total 40,514 18,800 6,959 6,667 814
eGT New Energy Automobile SUV City K-ZE - - - 0 383
Grand Total 4,224,311 4,067,052 3,782,773 3,034,117 2,850,543

(Source: Created based on MarkLines' database)




Production forecast by LMC Automotive: Dongfeng's own brand production to decline 612 thousand units in 2022

(LMC Automotive, October 2019)


  According to LMC Automotive's production forecast (Octber 2019), Dongfeng's own brand production is expected to be 624 .8 thousand units in 2019, down 18.4% year-over-year (y/y). After that, production is expected to decline further in 2020. In the medium-term, Dongfeng production will level off, to 611.5 thousand units in 2022.

  China’s Personal Vehicle production improved in August, with a drop of only 0.7% to 1.66 mn units, recovering from the double‐digit declines seen in recent months. LCV output fell by a slight 0.9% to 0.24 mn units. Light Vehicle output in the month was down by 0.8% YoY, on total build of 1.90 mn units. This indicates an improvement given that overall Light Vehicle production for the January‐August period declined by 12.5% YoY. Now that vehicle stocks have been unwound, OEMs no longer bear the burden of bloated inventories and are preparing to resume normal production rhythms.

  The CADA inventory index stood at 1.51 months at the end of August, 13.7% lower than in July, and 9% lower than in the same month of 2018. Inventory levels fell closer to the warning line of 1.5 months again from July, indicating that the stocks added in July were run down during August.

  Once one of China’s leading LCV manufacturers, Dongfeng has seen its sales dwindle in the face of fierce competition from rival companies such as Wuling, Foton and JAC. Following a management reshuffle, however, Dongfeng is now committed to returning to its former glory.

  Dongfeng’s main challenge at present is the need to give its subsidiaries greater autonomy to allow them to be more dynamic in terms of market performance, while simultaneously strengthening the integration of resources across the group to avoid internal competition.


Dongfeng Motor's light vehicle production forecast by make (LMC Automotive, October 2016)


COUNTRY GLOBAL MAKE 2016 2017 2018 2019 2020 2021 2022
China Dongfeng 943,734 931,887 738,692 617,685 587,542 574,234 601,390
Iran Dongfeng 4,859 28,695 25,321 3,623 4,303 4,108 5,186
Indonesia Dongfeng 0 160 2,031 3,444 4,838 4,605 4,835
Nigeria Dongfeng 0 0 0 57 101 112 124
Thailand Dongfeng 1,294 1,314 0 0 0 0 0
Malaysia Dongfeng 115 42 1 0 0 0 0
Dongfeng Motor Total 950,002 962,098 766,045 624,809 596,784 583,059 611,535

Source: LMC Automotive "Global Automotive Production Forecast (October. 2019)"
(Note) 1.Data indicate figures of only small-size vehicles, including passenger cars and light commercial vehicles with a gross vehicle weight of under 6 tons.
2. All rights reserved. Reproduction of any data will require permission of LMC Automotive.
For more detailed information or inquiries about forecast data, please contact LMC Automotive.

Keywords: China, Donfeng Motor, Nissan, Honda, Kia, DFSK, PSA, Dongfeng Liuzhou, Zhengzhou Nissan, Renault, Peugeot, Citroen, Dongfeng Yulon, eGT New Energy Automobile, EV, FCV, autonomous, CATL, Huawei, Tencent, CV

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