On January 25th, at the beginning of the New Year, China Dongfeng Motor Industry Import and Export Co., Ltd. and Spanish Salvador Caetano Group, signed a cooperation agreement in Wuhan, China, jointly announced that two party will cooperate with VOYAH, Mhero and Dongfeng brand electric vehicles in the Spanish and Portuguese markets in 2024.
Mr. Ma Lei, General manager of the International Business Division of Dongfeng Group and General manager of DFMIEC, said at the signing ceremony, ” Landing in the Iberian Peninsula means the opening of a new stage of Dongfeng European business. Since the first landing of VOYAH brand in Europe in 2022, Dongfeng has continued to expand its business territory. In the future, more Dongfeng series brands will be introduced to Europe to meet the diversified and multi-level travel needs.”
Mr.Sergio Ribeiro, CEO of Salvador Caetano Group said, ” Dongfeng is one of the leading automobile group in China. It has strong commitment with innovation and sustainability, also has a very rich history on automobile industry and share some calues as Caetano Group. We look highly for the cooperation with Dongfeng.”
Spain is the second largest car producer in Europe after Germany. Currently, the penetration rate of electric vehicles in Spain is still in its infancy, but the country will have great potential for electric vehicles in the Spanish market in the future, which is expected to reach 5 million vehicles by 2030. In response to the fierce competition, Dongfeng EV2Europe team had visited and took research for this market early, and business, brand, sales, financial team from DFMIEC have already participated in the project negotiations.DFMIEC plan to get into the market first with VOYAH and Mhero Brands, to build the high-end brand image, and then gradually improve market share by more entry-level products.
Founded in 1946, Salvador Caetano Group is the largest automotive group in the Iberian Peninsula.
In the future, Dongfeng will take advantage of Caetano’s strong industry foundation in Spain and Portugal, and join hands to build its overseas strategic highland. It is expected to officially launch the VOYAH and Mhero brands in Madrid, Spain in April 2024, and have the first customers delivery in the second quarter. At the same time, DFMIEC will rely on Caetano Group’s business network in North Africa and South America to explore more dimensions of cooperation in the future.
SOURCE: Dongfeng
