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Recently, Express, Itochu, and Sumitomo... These world-renowned logistics giants, attracted by the strong magnetic field of the Wuhan automobile industry, are pouring into the Wuhan Development Zone to invest in the automotive logistics industry.
In October of last year, Dongfeng Headquarters entered Wuhan, marking the transfer of Dongfeng Group's Industrial Strategic Center to Wuhan, with Dongfeng as the link. France’s PSA, Nissan, and Japan’s Honda Motor Co. gathered in Wuhan. Sino-foreign joint ventures, Shenlong and Dongfeng The company and Dongfeng Honda Co., Ltd. constitute a rare "Wuhan cluster" in the Chinese automobile market. From January to May this year, the Development Zone approved 19 new automobiles and related projects, with a total investment of 1.338 billion yuan. It is estimated that by 2007, Wuhan Automobile Development Zone will form a "2+5" pattern, with an annual output of 600,000 vehicles, and the total industrial output value will reach 84.2 billion yuan.
The clustering of the automobile industry in the development zone has attracted a large number of companies that are attracted to come to invest in it. Auto parts supporting companies have also “combined†development zones.
At the end of April this year, Japan’s largest logistics company, Japan Express Co., Ltd., a wholly-owned subsidiary of Nippon Express Co., Ltd., invested 2 million U.S. dollars in Hankook and established Japan-Taiwan Commercial (Wuhan) Storage Co., Ltd. for Nissan, Honda, etc. The depot provides warehousing, handling, packaging and automotive logistics consulting services. President of Nippon Express China stated that it will focus on the Wuhan Automotive Logistics Project to expand its logistics business in China.
Before Japan Express entered the development zone, there were already four first-timers. In February of this year, one of the world’s top 500 companies, Itochu Corporation of Japan, cooperated with China Railway Modern Logistics Technology Co., Ltd. and Aitong International Logistics Co., Ltd. and established Wuhan China Railway Yitong Logistics Co., Ltd. in Wuhan with an investment of RMB 15 million. In January, Japan’s Honda Corporation registered two logistics companies – Wuhan Dongben Storage & Transportation Co., Ltd. and Honda Logistics (Wuhan) Storage Co., Ltd., with a total investment of RMB 18.92 million. In early June, the Sumitomo warehouse of Japan's Sumitomo Group, the company's Wanteke Co., Ltd. and Beijing Datong invested a total of US$2.1 million to build a logistics warehouse with a throughput of 440,000 cubic meters in the development zone. The company will initially lease 10,000 square meters of warehouses and parking lots in the development zone. It is expected that the cargo throughput will reach 140,000 cubic meters in 2005, providing Dongfeng Nissan vehicles with Chinese domestic parts procurement and transportation services. At this point, three Fortune 500 logistics companies have settled in the development zone.
After the transit, many foreign logistics companies applied for the establishment of a new company, attracting giants to the development zone is the prospect of prosperity of the Wuhan automobile industry. As of May 10 of this year, the Development Zone has attracted a total of 11 automotive logistics companies to settle in, with a total investment of RMB 770.02 million.
People in the industry believe that Wuhan has a reputation as “a thoroughfare for nine provinces.†As Beijing-Zhuhai and Shanghai-Huirong “Golden Cross†meet in the Wuhan Development Zone, it further highlights the location advantage of the Wuhan Development Zone and provides opportunities for the development of the logistics industry. The arrival of a large number of auto OEMs and parts and components companies has changed the situation of being out of stock, and has also made the market conditions of the logistics industry mature. Therefore, there has been a surge of logistics companies in Wuhan Development Zone.
Car logistics giants get together and switch the new car city