Dongfeng Motor and COSCO Shipping Sign New Strategic Partnership Focused on Overseas Logistics and Autonomous Port Trucks

On May 12, 2024, Dongfeng Motor Corporation and COSCO Shipping signed a new round of strategic cooperation agreement in Wuhan. The two parties will establish a multi-tiered, multi-dimensional regular coordination mechanism focused on key areas including overseas logistics, autonomous port terminal trucks, vehicle procurement, shipping capacity, and overseas market expansion. This collaboration aims to align strategic planning, enhance resource synergy, accelerate project implementation, and strengthen the resilience and intelligence of global supply chains. This partnership represents a significant upgrade from their initial collaboration launched in 2017, tailored to support Dongfeng Motor’s overseas development strategy. Dongfeng plans to surpass one million units in new energy vehicle (NEV) sales by 2025, with its self-owned brands accounting for 63% of total sales, while accelerating internationalization efforts to achieve annual exports exceeding one million vehicles. Under its "Horizon Sailing" initiative, Dongfeng will advance the globalization of its entire value chain—encompassing products, technology, and brand—by launching 55 NEV models globally and achieving 50% local manufacturing share in overseas markets. COSCO Shipping will leverage its global network of ports, warehousing facilities, and digitalized supply chain systems to provide Dongfeng with integrated logistics services, including ocean freight, warehousing, and distribution.