Doosan Infracore, First Overseas Company in China to Produce 200,000 Excavators Cumulatively

Doosan Infracore announced on the 3rd that its Chinese subsidiary, Doosan Infracore China Corporation (DICC) in Yantai, China, surpassed a cumulative production of 200,000 excavators after 26 years since its establishment, and held a production celebration ceremony on the 30th of last month.

[Photo by Doosan Infracore]

[Asia Economy Reporter Ki-min Lee] Doosan Infracore announced on the 3rd that it has surpassed a cumulative production of 200,000 excavators, becoming the first overseas company to achieve this milestone in China. This record was achieved 26 years after Doosan Infracore entered the Chinese market in October 1994.

Doosan Infracore China Corporation (DICC), the Chinese subsidiary of Doosan Infracore, explained that on the 30th of last month, it invited employees, dealers, and customers to its Yantai factory in China to hold a ceremony commemorating the production of the 200,000th unit. The event, which was broadcast live online, also included a handover ceremony where the 200,000th excavator was delivered to a customer.

Previously, Doosan Group acquired Daewoo Heavy Industries & Machinery in 2005 and launched Doosan Infracore. Since the completion of the Yantai factory in China in 1996, Doosan Infracore has been producing 10,000 to 20,000 excavators annually. Among foreign excavator companies operating in China, Doosan Infracore's market share has currently risen to 22.8%.

Last year, the Chinese excavator market recorded a historic high annual sales volume of 200,000 units. Although the market contracted for about two months early this year due to the impact of the novel coronavirus disease (COVID-19), it is expected to grow to 275,000 units this year, supported by a recovery in domestic demand starting in March. Doosan Infracore's cumulative sales for the third quarter also increased by 21% compared to the same period last year, reaching 14,348 units.

In line with the growth of the Chinese excavator market, Doosan Infracore continues to launch new products and special equipment tailored to China. In July, it newly released a 6-ton class wheel excavator and has been strengthening equipment inspection campaigns to maximize customer satisfaction. Service training was also conducted online live for about 7,300 dealer personnel across China.

Doosan Infracore is committed not only to the growth of its business in China but also to the development of local communities. Since 2001, it has participated in the ‘Hope Project’ to support the education of youth in underdeveloped areas of China and improve educational environments, promoting the establishment of a total of 37 Doosan Hope Elementary Schools. In the second half of this year, it is conducting educational support projects by selecting 10 schools. Doosan Infracore was recognized for its contributions to the Hope Project by receiving the ‘Hope Project Contribution Award’ from the China Youth Development Foundation in 2017 and has been selected for three consecutive years as a ‘Model Corporate Social Responsibility (CSR) Company of Korean Companies in China’ awarded by the Embassy of the Republic of Korea in China.

A Doosan Infracore official stated, "We will continue to launch new products and special equipment tailored to China in line with the growth trend of the Chinese excavator market."

This content was produced with the assistance of AI translation services.