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From Products to Services, XCMG Machinery Integrates Whole Value Chain in North America

2023-03-23 17:23

LAS VEGAS, March 23, 2023 /PRNewswire/ -- XCMG Machinery (SHE:000425; "XCMG") has wrapped up another successful appearance at CONEXPO-CON/AGG, one of the world's top three construction equipment trade shows. This year's appearance was its 10th overall, with its showing at CONEXPO-CON/AGG 2023 having its largest product lineup to date, with 50 products on show across nine major categories.

From Products to Services, XCMG Machinery Integrates Whole Value Chain in North America.
From Products to Services, XCMG Machinery Integrates Whole Value Chain in North America.

"The 17 customized excavators exhibited in Las Vegas all adopt an electronic hydraulic system that improves working efficiency significantly, and we have also tackled the challenges of developing core components including batteries, electric control and motors to achieve mass production," said Dong Yuzhong, Vice President of the Research Institute of XCMG's Excavating Machinery Division

At CONEXPO-CON/AGG 2023, XCMG showcased the pure electric battery counterbalanced forklift BP600 and BTW250, as well as the XS125 road roller with unmanned control technology and single steel wheel that achieves an automated rolling precision of less than 2 centimeters. All 50 units of XCMG's exhibits at the trade show were sold out during the five-day event, with new orders flowing in. In addition, the Company also explores into Metaverse and Web3 field with plan to launch its official NFT collection "For Real" on ETH network with collaboration with Zen Spark Technology, while the revealing its ambassador BAYC 3489 on the show.

In the 1990s, XCMG shipped its first batch of export products to the US, 100 units of CA25 road rollers, and it has been breaking new ground in the North American market since. In 2022, XCMG North America's sales volume increased by 230 percent and product sales increased by 300 percent year-on-year. Over the years, XCMG has participated in multiple major construction projects in the U.S., including a petroleum production base in Texas, the interstate highway in Florida, and the laying of oil pipelines in the Houston area, amongst others.

"This is the most comprehensive construction machinery equipment lineup I've ever seen from a Chinese company, from which we've witnessed XCMG's transformation, development, and growth," said Li Kai'en, General Manager of Asia AEM Industry Association USA

Now, with its products available in more than 190 countries and regions, XCMG aims to continue to expand its market shares in Europe and North America with innovation as the main driving force. 

Advancing the global roadmap with integrated strategy and whole value chain resources 

XCMG established the US R&D Center in 2014 to research standards, regulations, customer preferences, and other factors in order to customize products and solutions. Since then, the company has gradually expanded its product portfolio through continuous technological development and adaptive enhancement. XCMG has also established a global innovation ecosystem that includes R&D centers in Europe, Brazil, and India.

"Our operation now covers R&D, assembly plants, sales companies, finance and leasing company, spare parts centers and a distribution network that covers the core regions in US to provide high-quality solutions for our customers," said Liu Quan, general manager of XCMG America

XCMG is also integrating its development strategy in North and South American markets. In 2012, XCMG established a manufacturing base in Pouso Alegre of Brazil's southeastern Minas Gerais state covering an area of 1 million square meters, which integrates R&D, production, sales, services and spare parts support and boasts an annual production capacity of 7,000 units. It is the first wholly-owned base built by a Chinese construction machinery company in Brazil, and a key project of Sino-Brazil economic cooperation. 

In 2020, the group's first wholly-owned overseas bank, Banco XCMG S.A., officially opened in Pouso Alegre. It's the first overseas bank of the Chinese manufacturing industry and first China-Invested Enterprise Bank in Brazil. 

With XCMG Brazil as the anchor, XCMG is completing an integrated network of manufacturing, sales, and customer service services across North and South America. 

"XCMG will keep accelerating our international layout with forward positioning, robust development, deepened localization and system empowerment, and increasing investments into international and localized operations to maintain high growth, and we thrive to create value for our global customers and support them to achieve greater success," noted Liu Jiansen, Vice President of XCMG Machinery. "XCMG unveiled a new global slogan, 'Solid to Succeed', at CONEXPO-CON/AGG 2023, spearheading a fresh company goal and philosophy as a globally leading construction machinery manufacturer with great potential in promoting technological innovation and green, sustainable development."


Source: XCMG Machinery

Related stocks: Shenzhen:000425

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