When the rumors of Chery's JAC restructuring gradually faded away, a cross-border marriage of Jianghuai Automobile once again attracted media attention. A few days ago, Jianghuai Automobile announced that it will establish a Sino-foreign joint venture with NC2GlobalLLC (a subsidiary jointly established by Navistar and Caterpillar, hereinafter referred to as NC2), each holding 50% of the shares. The new company will be primarily responsible for the production, manufacture and sale of medium and heavy truck and truck parts. Joining Caterpillar, JAC bid farewell to the era of no joint venture company, and began to expand the heavy truck business; Chery Automobile, while restarting the IPO, is also trying to build a factory in Henan to make up for the shortcomings of commercial vehicles. Industry sources pointed out that Chery and Jianghuai's secretiveness and the negative attitude of the two companies to the restructuring may lead to the destruction of the “Daan Steam†blueprint in Anhui Province. Jianghuai’s first cross-border marriage As a mainstream automobile group in China, JAC has always insisted on its own development. This cooperation with NC2 opened the ice-breaking journey between China and foreign countries in Jianghuai. It is understood that Jianghuai Automobile is known for its light truck business and its Ankai bus and passenger car business are all developing well, but the medium and heavy truck business has always been a shortcoming of the company. Data show that last year, Jianghuai Automobile Group's light trucks ranked first in the country with annual sales of about 100,000 units, and annual sales of heavy trucks were only 10,000 units, ranking ninth in the industry. In the first half of this year, JAC sold 5,530 heavy trucks, a year-on-year decrease of 26.14%. Regarding the phenomenon of heavy trucks lagging behind, Zuo Yanan, the chairman of Jianghuai Automobile, said in an interview with reporters that the heavy truck project will adopt the strategy of “grasping the big and letting go†and actively seek joint ventures and cooperation or sales. It is understood that the United States NC2GlobalLLC company is a joint venture established by Navistar and Caterpillar. Among them, Navistar specializes in the production of commercial vehicles, military trucks and diesel engines, while Caterpillar is the world's largest manufacturer of construction machinery, mining equipment, diesel and natural gas turbines. In terms of funding, Jianghuai Automobile will invest the assets and business of almost all medium-sized trucks and heavy trucks as joint ventures, and NC2 will invest in cash. "Although NC2 is using cash, but since it is a Sino-foreign joint venture, it will definitely involve relevant technology transfer issues. At present, Jianghuai Automobile is negotiating with foreign parties," said Cui Yizhang, Minister of Marketing of Jianghuai Automobile Co., Ltd. Japan Economic News, an interview with reporters said. "The alliance between Jianghuai and NC2 is all required," an analyst at Northeast Securities told the reporter. "The advanced technology of Navistar and Caterpillar is necessary for JAC to develop the heavy truck business, and NC2 will take this Inciting the Chinese market." Chery Jianghuai secretly compete Since May last year, rumours about the reorganization of Chery and JAC have not stopped. In fact, as the two protagonists of the reorganization of sex scandals, JAC and Chery are fighting in secret. On August 12, Jianghuai Automobile announced that it will invest 592 million yuan to launch the 30,000 light passenger van project. The same news from JAC stated that the company's sedan engine project has been completed and put into production, and will build a joint venture company in Vietnam. The company expects that the sedan project will achieve profitability in the fourth quarter. Industry sources pointed out that JAC has stepped up investments in high-profit projects such as MPVs and cars, and has also strengthened its medium- and heavy-duty card business through joint ventures. This shows that Jianghuai Automobile's efforts to compete for the right of reorganization may even make the company bigger in the future even if the final reorganization fails. Strong and laid a good foundation. Chery Automobile is also not deterring others. It is reported that Chery Automobile has restarted its IPO plan recently after five investment institutions such as Huarong Asset Management Co., Ltd. sold 20% of its equity to raise 2.9 billion in June. Once the IPO is successful, Chery will take a dominant position in the possible restructuring of JAC. In addition, on June 29, Chery Automobile invested RMB 2 billion in the production of the Chery Automobile Yongda Cast Iron Factory, which will remove the impediments to the non-expansion of the Chery engine plant's production capacity and pave the way for Chery’s future capacity expansion. It is further reported that Chery Automobile is trying to deploy the Henan market by means of mergers with local companies. The above Northeast Securities analyst told the reporter that JAC's frequent investment and capital operations have greatly enhanced the company's competitiveness in the medium-heavy truck sector and MPV products. Even if JAC and Chery do not reorganize, JAC has stabilized the stock price. Considering that it will not make a decision to completely deny the restructuring. "Daan Steam" blueprint or shattered Rumors about the reorganization of Chery and JAC mainly come from the description of the reorganization of the automobile industry in Anhui province in May this year in the "Automobile Industry Revitalization Plan of Anhui Province" (hereinafter referred to as the "Planning"). "Planning" pointed out: "Strengthen the promotion of joint reorganization of auto companies. Intensify the reform and support Chery, Jiang Auto, Hualing, Changhe, Yangzi, Quanchai, etc. to carry out joint restructuring in the province according to market principles, and strive to form a production capacity of millions. More than one automobile group entered the national key support sequence." Under the background that the relevant national policies encourage the “Four Big Four†automobile groups to implement national or regional mergers and reorganizations, the “planning†description of the promotion of reorganization allows Chery Automobile and JAC to reorganize as one of the “four small†companies. The possibility of a sharp increase. Gu Huanyu, a senior brand expert, said that the brand philosophy and corporate culture of Jianghuai and Chery companies are very different. As two Anhui heavyweight auto companies, mergers between them may be minimal, even if the joint reorganization is not small The difficulty. "The success of the joint venture between Jianghuai Automotive and NC2 will form a balanced development trend for the entire company's products and make up for the shortcomings of the business." The above-mentioned Northeast Securities analyst said, "The better Jianghuai and Chery have developed each other, Daan, Anhui Province The more difficult it is for the blueprint, the harder it will be. “Currently, JAC and Chery have actions in business expansion and investment,†Zhang Boshun, secretary general of the China Association of Automobile Manufacturers Market Trade Committee, said in an interview. “What I understand is that Chery does not want to reorganize with JAC. JAC also Do not want to reorganize with Chery, so the possibility of reorganization of the two companies is no longer big." Indoor Door Lock,Interior Trim Seal,Car Door Window Trim Seal,Car Door Insulation Strip Guangzhou bozhong chuangzhan industry co. LTD , https://www.bzev88.com
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