On August 8, 2023, Cummins China and Zhuopin Intelligent Technology Wuxi Co., Ltd. (“Zhuopin Intelligent”) signed a cooperation agreement in Wuxi, intending to invest in the establishment of a new joint venture company, to give full play to the leading advantages of both parties in their respective fields, and to provide Customers bring higher performance and more valuable technology and product solutions. Zhao Jianjun, Mayor of Wuxi City, Chen Shoubin, Secretary-General of Wuxi Municipal Government, Deputy Secretary of the Party Working Committee, Deputy Secretary of the Management Committee of Wuxi High-tech Zone, Deputy Secretary of the Xinwu District Committee, District Mayor Zhang Jinwei, Deputy Director of the Management Committee of Wuxi High-tech Zone, Xinwu Hua Yanhong, deputy head of the district, Wuxi Science and Technology Bureau, Industry and Information Technology Bureau, Commerce Bureau and related leaders, Li Daming, chairman and general manager of Zhuopin Intelligent, Marina Savelli, vice president of Cummins and global president of software and electronics business, Cummins China Chai Yongquan, General Manager of Components Division, Guo Yan, General Manager of Cummins China Software and Electronics Business, Yida Capital, Sany Venture Capital and other guests witnessed this important moment.
In the spirit of win-win cooperation and joint development, Cummins and Zhuopin Intelligent established Kangzhuo Electronics (Wuxi) Co., Ltd. (referred to as “Kangzhuo Electronics”) to engage in the development and production of products related to automotive electronic control systems. Kangzhuo Electronics will give full play to the flexibility of Zhuopin Intelligent as an innovative enterprise, its sensitivity to the market, and its advantages in the development of automotive electronics software and hardware. With the help of Cummins’ leading experience in the global market, it will give full play to its management The advantages in synergy and other aspects form a scale effect, and through the cooperation between upstream and downstream in the industry, the security and resilience of the supply chain will be continuously improved, and more opportunities for business growth will be brought.
Deepen local cultivation and deepen cooperation
Zhao Jianjun thanked Cummins for its active support to Wuxi’s development over the years. After briefly introducing Wuxi’s economic and social development, he said that Cummins is a world-renowned and respected company, and has cooperated closely with Wuxi for many years and achieved fruitful results. At present, Wuxi is cultivating and strengthening the “465” modern industrial cluster. It is very good to see that industry leaders such as Cummins share new opportunities and win-win new development with high-growth enterprises. Chain extension injects new kinetic energy.
Marina Savelli said: “Cummins has a good manufacturing and business foundation in China. We are very optimistic about China’s future business development opportunities and will continue to invest and cooperate with regions and governments including Wuxi. Since Cummins settled in Wuxi in 1996, we have Four companies have been established in Wuxi, and Kangzhuo Electronics is the fifth company we have established in Wuxi. We will also continue to introduce more advanced technologies and high-end manufacturing into Wuxi and other related areas, further deepen regional cooperation, and achieve mutual benefit. win.”
Complementary advantages and shared opportunities
With innovations in energy diversification, interconnection, automation, etc., Cummins is gradually transforming towards a “zero-carbon future”, and software and electronics will play an increasingly important role.
Guo Yan said: “The establishment of Cummins Software and Electronics aims to strengthen our ability to actively seek market opportunities in this field and quickly formulate and implement product strategies. I believe that with the implementation and advancement of joint venture projects, our business will have more Based on solid product technology, manufacturing foundation and supply chain flexibility, rooted in China to serve China, and then provide customers with flexible, efficient, and high-performance products and services.”
In the automotive industry, the demand for software and electronics continues to increase, the supply chain fluctuates, and the demand for diversified power gradually escalates. Industry cooperation will help build synergies and share industry opportunities.
Li Daming said that seeing the booming market demand and opportunities, Zhuopin Intelligent and Cummins jointly negotiated and invested in the establishment of the Kangzhuo Electronics joint venture company based on strategic development planning and business development needs. We will work together to write a new chapter in various undertakings of the joint venture company.
According to Chai Yongquan, software and electronics are new business units specially established by Cummins to seize new opportunities and open up new markets. The components business will continue to devote itself to the development of innovative technologies and products including software electronics and core components, and continue to expand in related fields on the road to zero emissions, providing users with multiple intelligent power solutions.