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Georg Pachta-Reyhofen, CEO of MAN SE, the third-largest truck manufacturer in Europe, said on Thursday that the company plans to strengthen cooperation with China National Heavy Duty Truck Group (Sinotruk) next year to build new heavy trucks. Introduced into the Chinese market.
MAN currently holds a 25% stake in Sinotruk and may increase its stake in the company in the future. Currently, MAN focuses on truck joint ventures with Sinotruk.
Due to the rebound in demand for heavy trucks in Europe and the surge in truck sales in Brazil, the net profit of the Munich-based truck manufacturer in the second quarter increased from 22 million euros in the previous year to 153 million euros, an increase of nearly 6 times. Driven by the strong sales of trucks in Latin America, the company’s sales increased by 16% over the same period to EUR 3.6 billion. Pachta-Reyhofen said today that emerging countries such as Asia, Africa, the Middle East, and Russia are "great markets" for both partners.