OREANDA-NEWS. September 08, 2015. KAMAZ and Chinese carmaker Hawtai Motor Group Co signed a framework agreement to establish a joint venture for the production and sales of trucks "Kamaz" in China and Hawtai cars in Russia. The agreement was signed by General Director of KAMAZ, Sergey Kogogin, and the chairman of the board of directors Hawtai Motor Group, Zhang Xu Genome.

As the press service of KAMAZ informed, the production of passenger cars under the brand Hawtai in Russia will be organized on the production site of KAMAZ. For the production of KAMAZ trucks in China, it is planned to build a new plant in Tianjin. Sales will be carried out with the usage of advantage of distribution networks of each other.

KAMAZ will bring to the charter capital of the joint venture its production facilities in Russia, production technology of trucks and managerial resources. In its turn, the company Hawtai Motor Group Co will provide the joint venture with technology, engineering development and other know-how in the production of passenger cars.

"This framework agreement is aimed at supporting our long-term strategy to diversify the sales and develop new growth markets. In cooperation with the company Hawtai Motor Group Co we are able to enter the promising market of heavy trucks in China, where we are with our partners will be able to find new customers. Our goal – is to reach sales of 50 thousand cars per year there,"- said General Director of KAMAZ, Sergey Kogogin.