Mitsubishi Fuso and SYC establish joint venture to manage FUSO’s wholesale business in Taiwan
July 25, 2016
Mitsubishi Fuso Truck and Bus Corporation (MFTBC) has established a joint venture with Shung Ye Trading Co., (SYC) in Taipei, Taiwan – Daimler Trucks Asia Taiwan Ltd. (DTAT) – for the exclusive wholesale distribution business
The start of operations of the joint venture is planned from October 2016
Through the establishment of DTAT, FUSO, already the number one truck brand in Taiwan, intends to further increase its market presence
Marc Llistosella, President and CEO of MFTBC and Head of Daimler Trucks Asia, said: “Taiwan is one of our most important FUSO markets worldwide, and I am convinced that creating a new wholesale company, together with our partner SYC, will help us to further enhance our commercial vehicles business.”
Kawasaki, Japan/Taipei, Taiwan–Mitsubishi Fuso Truck and Bus Corporation (MFTBC) – one of Asia’s leading commercial vehicle manufacturers, cooperating with Daimler India Commercial Vehicles Pvt. Ltd. (DICV), under the umbrella of Daimler Trucks Asia (DTA) – and Shung Ye Trading Co., (SYC), a leading player in the Taiwanese commercial vehicles market, have established a joint venture for the exclusive wholesale business of FUSO vehicles. The start of operations of the new company, Daimler Trucks Asia Taiwan Ltd. (DTAT), in which MFTBC holds a 51 percent stake and SYC 49 percent, has been planned from October 2016. DTAT will further enhance FUSO’s business in the Taiwanese market through a newly formed business setup including import, assembly, wholesales, and retail.
New business setup increasing commitment to customers
As part of the new business setup, DTAT will be responsible for the exclusive import and wholesale businesses for the full range of FUSO products including light-, medium-, heavy-duty trucks, and light- and medium-duty buses. This represents a simplified approach and increased efficiency compared to the outgoing situation, where the responsibility for different segments of the wholesale business was split into several companies.
The retail sales business for FUSO in Taiwan continues to be operated by Yue Yu Motors Corporation (YYC) through its network of 40 sales and service outlets. In addition to that, there are 60 outlets operated by Shung Ye Motors Corporation (SYM) that will offer customer services and parts to Fuso customers.
The local assembly of FUSO heavy-duty trucks and medium-duty buses will continue through MFTB Taiwan – another successful joint venture between SYC and MFTBC, and the assembly for light-and medium-duty trucks will continue to be handled by China Motor Corporation (CMC).
Marc Llistosella, President and CEO of MFTBC and Head of Daimler Trucks Asia said: “Taiwan is one of our most important FUSO markets worldwide, and I am convinced that creating a new wholesale company, together with our partner SYC, will help us to further increase our commercial vehicles business.”
Michael Kamper, Senior Vice President of MFTBC and Head of Marketing, Sales and Customer Services Trucks Asia added: “With our new legal entity in place, we will now focus on ramping up and getting it fully operational by October this year. Through Daimler Trucks Asia Taiwan, we will provide our customers a wider vehicle portfolio and enhanced services.”
Kristin Chun-Chi Lin, Chairwoman of SYC said: “For decades, we have been working closely together with MFTBC to promote FUSO products. We are very confident this new partnership will further strengthen FUSO’s dominant position in Taiwan.”
Strong presence of FUSO in the Taiwanese market
FUSO products have been sold in Taiwan through SYC since 1958. Taiwan is the third largest export market for FUSO and it is the number one brand in the Taiwanese commercial vehicle market, with a market share of around 33% in 2015.
Dating back to1934, FUSO entered the Taiwanese market for the first time with the light bus “B46”. In 1973, a KD operation was started for heavy-duty trucks, followed by one for the flagship light-duty truck “Canter” in 1983.
In 2013, hybrid light-duty truck “Canter Eco Hybrid” was introduced as the first ever hybrid commercial truck for the market.
Daimler Trucks Asia at a Glance
Daimler Trucks Asia (DTA) is an organizational unit that jointly operates Mitsubishi Fuso Truck and Bus Corporation (MFTBC) – an icon of the Japanese commercial vehicle industry with more than 80 years of history, and Daimler India Commercial Vehicles (DICV) – a young challenger in the Indian market. DTA has a strategic business model that allows its group entities to collaborate in product development, production, exports, sourcing and research activity to provide the best of value products.
MFTBC at a Glance
Based in Kawasaki, Japan, Mitsubishi Fuso Truck and Bus Corporation (MFTBC) – a part of DTA – is one of Asia’s leading commercial vehicle manufacturers. In 2015, the company sold a total of about 154,200 vehicles including light-, medium- and heavy-duty trucks and buses under the Fuso brand. Daimler AG owns 89.29% and various Mitsubishi group companies own 10.71% of MFTBC shares. MFTBC is an integral part of the Daimler Trucks division of Daimler AG.
SYC at a Glance
Shung Ye Group is a longstanding FUSO vehicles dealer in Taiwan. It started from import and export trades and now represents various world-famous brands such as FUSO commercial vehicles, Mercedes-Benz heavy-duty commercial vehicles, Mitsubishi passenger and SUV vehicles, Mitsubishi Heavy Industries gasoline/diesel engines and generators, JX Nippon Oil & Energy’s lubricants, STAMFORD/AVK alternators, John Deere diesel engines and etc. in Taiwan. The group focuses mainly on sales and service of motor vehicles and peripheral operations via affiliate companies within the group. One of the leading commercial vehicle dealers in Taiwan, Shung Ye Group continues to build/expand its outlets in the country and to provide customers its quality and speedy service. In 2015, the group has nearly 3,000 employees, owns 80 sales/service outlets with sales revenue exceeds USD 800 million.