International auto giants set off a new round of competition in China

After GM, Volkswagen intends to increase its shareholding in FAW-Volkswagen from 40% to 49%. Since last year, the international auto giants have set off a new round of competition in China.

When the market is sluggish, auto giants are more willing to control the upstream parts and accessories companies and earn more profit. When the market is booming, the equity ratio of joint ventures is “great than day”, and one percentage point means several hundred million yuan in revenue each year. The Chinese market belongs to the latter. In the past ten years, it has been impossible to describe it as a “prosperity”, and “hot” will be more appropriate. Due to various historical reasons, many auto giants' share ratios in joint venture factories are far from satisfactory, and competition for nature is inevitable.

A-Volkswagen Increases Its Shareholding in FAW

Volkswagen's share in FAW-Volkswagen is only 40%, which is lower than the average level of the industry; the public has repeatedly forced the palace to require increased shareholding ratio, but in the end it is all gone. However, this year, Volkswagen finally got its wish. Recently, information from FAW Group stated that "Volkswagen and FAW Group have reached an agreement on the change in the number of shares of the joint venture company." The ratio of the two companies will be 40% to 60%. It becomes 49% to 51%. The 9% shareholding does not change the public into a controlling party, nor does it alter the personnel rights of the two parties within the joint venture. The only change is the ratio of the two families at the end of the year: FAW Group will lose billions of dollars annually. Yuan's profit. The price paid by the public is to make concessions on the equity arrangement of upstream component joint ventures such as engines and transmissions.

B GM bought some Wuling shares

GM's ambitions for the shares of SAIC-GM-Wuling Wuling are no longer a day or two, but many people may not know that GM has succeeded. At the end of last year and early this year, SAIC-GM-Wuling’s stock ratio quietly changed: 50.1% of SAIC Motor, 44% of General Motors, and 5.9% of Wuling. Previously, SAIC Motor was 50.1%, General Motors 34%, and Wuling 15.9%. Regarding this share ratio change, no matter whether it was GM, SAIC, or Wuling, there was no loud voice, because it was too sensitive. At the time of the most fierce competition in August last year, Wuling even released a disclaimer, but in the end the facts It is GM's strong victory and the parties feel at it.

GM paid the price of US$51 million in cash, the Baojun passenger vehicle project, and the commitment to “developing the Indian market based on Liuzhou”; the gains were almost equal to that of SAIC in the SAIC-GM-Wulingli, and the joint venture will be held annually. Millions of car sales go to the bottom of the market - the bankruptcy reorganization after the success of General Motors than any one car company at any time, they need beautiful sales figures and financial statements.

C General repurchase 1% stake in Shanghai General Motors

Shanghai GM has been regarded as a model of cooperation between Chinese and foreign car companies and the two sides have achieved cooperation and win-win. In 2009, during the precarious period of general use, SAIC resolutely took shares in GM, and GM relied on GM to transfer 1% of shares to SAIC. The number of shares increased from 50% to 51% and became a controlling shareholder. However, at the beginning of this year, the situation changed dramatically. General Motors Chairman and CEO Elkson said at the media meeting that he planned to take back the 1% stake in Shanghai GM sold to SAIC at the appropriate time. Simple, GM has priority buyback rights.

With the eye-catching performance of the Chinese market out of the bankruptcy reorganization crisis, Wuling’s equity was in the pocket. Sales and profits were not bad. Under such circumstances, they crossed the river and said that they would buy back their shares. “Not kind” is not excessive. But this is the market economy.

D Mercedes-Benz China and Beijing Mercedes-Benz's right to compete

Unlike Audi, BMW's unified sales channel, and unified right to talk, Mercedes-Benz China and Beijing Benz have a long history of internal friction. In many models, importers and sellers are often "facing each other." From last year, Mercedes-Benz headquarters began to coordinate the relationship between the two, although not involved in the stock ratio, but the final results, the Beijing Benz occupy the upper hand, because in the future at least 70% of models sold in China are domestic.

E Mitsubishi's turn around

In China, Mitsubishi was a big morning and a late set. In Changfeng and South-Eastern cooperation projects, because of relatively few shares and no right to speak, seeking to increase their shareholding has been repeatedly rejected. Moving around, Mitsubishi finally got hands-on with Guangzhou Automobile to achieve a 50:50 peer-to-peer ratio – a sharp contrast to Volkswagen's strength. Analysts believe that it is more difficult to increase the shareholding ratio than the establishment of a new joint venture company on the basis of the original company, but also to spend more manpower and material resources, Mitsubishi was apparently frustrated with the Southeast project, only to find new Partner.

F Dongfeng Yueda Kia's "Dispute between China and China"

Unlike SAIC-GM-Wuling, the Kia Group has an absolute say in Dongfeng Yueda KIA, with Dongfeng and Yueda each accounting for 25%. Yueda’s stock ratio in Dongfeng’s hands is eye-catching, and it has been seeking ways to increase its holdings in order to increase the right to speak and improve the company’s efficiency. However, for many years Dongfeng has always refused to compromise. With the launch of Zhirun, K5 and K2, Dongfeng Yueda Kia entered a mature stage steadily. This made it more urgent for the two Chinese shareholders to compete for the equity ratio, but it has not yet entered the final decisive battle.

Reporter observation:

The rivalry in the equity ratio begins with the right to talk

The joint venture car enterprise is the protagonist of the Chinese auto market. Its market share and reputation are much greater than those of local brands and imported brands. Its share ratio distribution has a profound influence on the direction of the auto market in China. Why can foreign parties win over the competition for shares? There are three reasons: First, the foreign masters the core technology, and has two joint ventures, can meet each other, firmly grasp the right to talk, when the power is concentrated to a certain extent, improve the ratio of stocks has become a matter of course. In addition, the foreign companies more often regard the joint-venture vehicle company as a factory or production line in China, rather than as a partner, and do not have to scruples your feelings. The pursuit of the equity ratio is of course unscrupulous. In the end, it is crucial that the profits from the production of automobiles in China are really high. Every year, 1% of the profits are calculated in hundreds of millions of yuan, and anyone will be tempted to take advantage of it.

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Standard Steel Grade Chemical Components Machanical Property
C Mn P S Cu Ni Cr Mo V Tensile Strength (Mpa) Yield Strength(Mpa) Elongation (Mpa)
ASTM A53 A ≤0.25 ≤0.95 ≤0.05 ≤0.045 ≤0.40 ≤0.40 ≤0.40 ≤0.15 ≤0.08 ≥330 ≥205 ≥29.5
B ≤0.30 ≤1.20 ≤0.05 ≤0.045 ≤0.40 ≤0.40 ≤0.40 ≤0.15 ≤0.08 ≥415 ≥240 ≥29.5
Standard Steel Grade Chemical Components Machanical Property
C Si Mn P S Cu ,Ni Cr Mo V Tensile Strength (Mpa) Yield Strength(Mpa) Elongation (Mpa)
ASTM A106 B ≤0.30 ≥0.10 0.29-1.06 ≤0.035 ≤0.035 ≤0.40 ≤0.40 ≤0.15 ≤0.08 ≥415 ≥240 ≥30
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