On April 11, 2013, Weichai Power and the Italian Ferrari F1 team held a strategic cooperation conference in Shanghai, announcing the formal establishment of a strategic alliance between the two brands. Previously, Weichai Power officially became a global sponsor of the Ferrari F1 Team for four years on February 1, 2013. Through the establishment of the brand strategic alliance relationship, both parties will further use the platform of the F1 team to develop cooperation in more fields and establish a model of mutual benefit between the two outstanding companies.
Weichai Power Teamed Up with Ferrari F1 Team to Launch Strategic Cooperation
Weichai Power is a leading brand of Chinese industrial companies. In recent years, the scope of business has expanded and the degree of internationalization of enterprises has rapidly increased. In particular, the two overseas M&A operations last year have aroused widespread concern in the industry. On January 10, 2012, Weichai Group reached an agreement with Italy's Ferretti Limited, the world's largest luxury yacht manufacturer, to acquire Ferrari's controlling stake by participating in the Ferrari debt restructuring process. On September 3, Weichai Power also signed a strategic cooperation agreement with the world's leading industrial forklift manufacturer and the global leader of hydraulic technology, the German KION Group, and completed the largest investment in Chinese companies in Germany. Weichai continues to make its debut on the international stage. Its business scope covers a wide range of industry sectors. With its long-running, capital-like capital operation, it is fully promoting the pace of internationalization, making Weichai Power an international company with global operations. Weichai currently has branches and offices in the United States, Singapore, India, Russia, France, Italy, Germany and other countries.
February 1 Ferrari announced at the global launch of the 2013 F1 new car F138 at the Italian headquarters, Weichai Power became the official partner of the Ferrari F1 team globally. This is the first time that Ferrari has sponsored the Chinese equipment manufacturing company in the Chinese market. Qualification, Weichai has become a global partner of the Ferrari F1 Team, a top-ranking international top-ranking team. In 2012, China has become Ferrari's second largest global market. Ferrari praised Weichai Power as a leading manufacturer of China's automobile industry in the global conference. What Ferrari values ​​is the strength demonstrated by Weichai's sustainable management in China. With influence, with the help of Weichai's heavyweight brand, it will undoubtedly increase the visibility of the Ferrari brand and its F1 team in the Chinese market.
With the beginning of the first brand strategy cooperation, both Weichai Power and Ferrari expressed their willingness to cooperate in depth. In terms of brand cooperation, Ferrari needs an influential brand in the country to form a strong Chinese concept and to fully drive the Chinese market for Ferrari. Weichai Power needs to find an international platform for the globalization of its own brand. The Ferrari Formula 1 team meets such conditions. Under this strategic alliance, the two parties will not rule out in-depth strategic cooperation in the future, and the team will set up a special team to share cutting-edge scientific research results.
Weichai Power Chairman Tan Xuguang
Tan Xuguang, chairman of Weichai Power, stated that Weichai sponsored the Ferrari F1 team to create a good start for the strategic cooperation between the two parties. In the future, the two sides plan to carry out more specific cooperation projects. I believe the two parties will conduct in-depth communication and understanding. More extensive strategic cooperation.
The strategic cooperation between Weichai Power and Ferrari began with Weichai becoming a global sponsor of the Ferrari F1 Team. The future cooperation is expected to be extended from the brand communication to the research and marketing areas, utilizing their respective strengths to promote through technology, operations, and linkages. In many aspects such as deep cooperation, we work together to achieve a win-win situation.
Weichai Power Co., Ltd. Introduction
Weichai Power Co., Ltd. (2338 HK/000338SZ) is a leading automotive and equipment manufacturing group in China. It covers four major industries: complete vehicles, powertrains (engines, transmissions, axles), automotive electronics and components, and yachts. Business segments. Its products cover the most complete field in the industry. The company is a leader in China's high-speed high-power engines, heavy-duty transmissions and spark plugs industry. Its heavy-duty axles are regarded as the top brands of similar products in China, while heavy-duty trucks rank fourth in China. The company was listed in Hong Kong and Shenzhen in 2004 and 2007 respectively. In 2012, the company achieved a sales income of 73.4 billion yuan and a profit of 3.87 billion yuan.
Ferrari Automotive Company Introduction
Ferrari is an Italian car manufacturer headquartered in Maranello, Italy. Founded by Enzo Ferrari in 1929, it mainly manufactures Formula One racing cars, racing cars and high-performance sports cars. Most of Ferrari's cars are made by hand, and the annual output exceeds 7,000. Ferrari cars are mainly red, and they are called red hop horses or red magic rallies. The Ferrari team is the best team in the World Formula Championship and has won 16 team championships and 15 driver championships. The Ferrari team will play in the 2013 F1 Grand Prix China in Shanghai in April this year.
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