In 2013, Remy International and WABCO acquired Chinese shares in their respective joint ventures, thereby turning them into wholly-owned companies. In 2014, Johnson Controls and Yanfeng Automotive Trim Systems Co., Ltd. jointly established a global joint venture for automotive interiors. Enterprises, Faurecia will use joint ventures to promote its business development in the Chinese market...
In the past two years, multinational auto parts companies have been devoting themselves to expanding their market share in China through joint ventures or joint ventures to become sole proprietorships. Experts in the industry believe that in the face of the expansion of multinational auto parts companies, it is imperative for Chinese auto parts companies to accelerate their transformation and upgrading and enhance their competition.
Joint venture to become sole proprietorship <br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br> China National Automobile Industry Association Secretary of the brake committee Gu Yifan said that at present, in the domestic auto parts industry, any profitable auto parts will have this kind The parts companies must either sole proprietorship or change joint ventures to become sole proprietors. The so-called profitable means those auto parts that are rich in profits, high in technical requirements, and at the high end of the value chain.
In mid-2013, Remy International, an American auto parts company, signed an agreement with Hubei Shendian Automobile Motor Co., Ltd. to acquire a 49% stake in Remy Electric Hubei Co., Ltd., which is held by the latter, and thus to Remy Electric Hubei Co., Ltd. A joint venture achieves sole proprietorship.
It is understood that Remy Motor Hubei Co., Ltd. was originally established by Delphi Automotive Systems China Investment Co., Ltd. and Hubei Shendian Automotive Motor Co., Ltd., and is mainly engaged in the design, production and sales of starters and generators for passenger cars, passenger cars and trucks. Main accessories. Remy International acquired Delphi's light generator business in 2004 and acquired a 51% stake in Hubei Company.
For the acquisition of all the Chinese shares, Remy International official said that this is an important milestone in Remy International's global strategic plan. Through the sole investment in Remy Motor Hubei Co., Ltd., it can meet the growing demand of passenger cars and commercial vehicle manufacturers in the Chinese market.
At the end of 2013, WABCO announced that it had acquired a 30% stake in Shandong Mingshui Auto Parts Co., Ltd. in Shandong Weiming Automotive Products Co., Ltd., making Weiming Co., Ltd. the third wholly owned subsidiary of WABCO in China.
As a global supplier of commercial vehicle safety and control systems, WABCO manufactures and sells commercial vehicle air management systems, brake stabilization systems, suspension control systems, and transmission control systems and components for trucks, trailers and passenger cars in China. In order to quickly enter the Chinese market, in 1996, WABCO cooperated with Mingshui Auto, a well-known manufacturer of automobile brake systems, and jointly invested USD 12 million to establish a joint venture company in Shandong Jinan Automotive Products Co., Ltd. Among them, WABCO owns 70% of the shares of the joint venture company, and Mingshui Auto Parts accounts for 30% of the shares. The joint venture company mainly produces conventional brake products, including foot brake valves, hand brake valves, air handling units, air dryers, four-circuit protection valves, pressure regulators, trailer control valves, and brake air chambers.
The industry believes that after many years of joint ventures, China has slowly hollowed out its professional management of technology, quality control, and team operations, while the foreign experience in localization has matured. In order to better control the market, it has made joint ventures to change its sole proprietorship options. .
<br> <br> multinational joint venture to market in April this year, the multinational auto parts company Johnson Controls announced, and SAIC subsidiary parts enterprises wholly-owned subsidiary of Chinese domain car - Yanfeng Automotive Trim Systems Co., Ltd. Signed an agreement to jointly establish a joint venture for automotive interiors. The joint venture company, which is jointly invested by both parties, aims to establish a global automotive interior company with an estimated annual sales of US$7.5 billion. Yanfeng holds a 70% stake in the joint venture and Johnson Controls holds 30% of the shares.
The person in charge of Johnson Controls said that in the past 15 years, the cooperation between Johnson Controls and Yanfeng in the field of car seats has been a great success. Now merging the interiors of both parties is a natural extension of the existing partnership. The merged new company will occupy a leading position in the market and lay a solid foundation for future global sustainable development.
Also chooses a joint venture with Foglia. Li Jingcheng, deputy general manager of Foggia China, said recently that it will use joint ventures to promote its development in the Chinese market. In the six strategies for the future development of the Foglia's China market, “focusing on joint ventures and cooperation and achieving win-win cooperation†is ranked second.
It is understood that Faurecia entered the Chinese market in 1992 and in 1994 began to provide auto emission control technology products to Shenlong Automobile through its joint venture with Hubei Tongda Co., Ltd. In the following 20 years, Foglia's other three major business systems - seat systems, interior systems and exterior systems - entered the Chinese market one after another. Faurecia's business scope in the six major automobile production areas has continued to expand. Currently, Foglia has 36 factories, 4 R&D centers and nearly 10,000 employees in China.
Some experts have analyzed that Faurecia chose a joint venture to a large extent related to its business scope. Foglia has four major business segments: car seats, emission control technology, automotive interiors and automotive exteriors. Currently, the joint venture focuses on automotive seating and automotive interiors. The dependence of production companies is relatively large. The joint venture is a means for multinational auto parts companies to obtain orders in China. Although every procurement of auto manufacturers is subject to public bidding, the joint ventures of the company will always give priority to the same conditions.
However, it is generally believed in the industry that joint ventures are only a prerequisite for the monopoly of multinational auto parts companies. The choice of a joint venture model is only because these multinational companies hope to use the joint venture to obtain the market. After a certain market share is achieved, they will still choose sole proprietorship expansion.
Domestic enterprises should speed up the transformation and upgrading "As China's auto industry continues to expand, the lagging development of auto parts and components has brought more significant impact on the development of the automotive industry. At present, China's auto parts companies are mostly at the low end of the value chain and are braking. There is a limited share of core components such as systems, transmission systems, steering systems, air-conditioning systems, and electronic controls.†Xu Yanhua, deputy secretary-general of the China Association of Automobile Manufacturers, said that in the automotive industry's development of energy-saving and new energy vehicles, the parts industry as a whole Faced with the pressure of transformation and upgrading, can we keep up with the pace of industrial transformation and upgrading, and it is a "life-and-death form" in front of China's auto parts industry.
Automobile manufacturing is a manifestation of the country's overall manufacturing level. The development of the auto parts industry plays an important role in the development of the entire automobile industry. Through in-depth cooperation with auto parts companies, vehicle companies can not only ensure the supply of auto parts, but also help improve the technical level and quality standards of auto parts companies.
It is understood that although the “Development Policy of the Automobile Industry†issued by the National Development and Reform Commission in 2004 put forward “the ability to gradually develop system development in key auto parts and components, it is necessary to form advanced product development and manufacturing capabilities in the general automotive parts and components field to meet domestic needs. The needs of foreign markets have made great efforts to enter the international auto parts procurement system, but it has eliminated the share-to-equity restrictions of multinational companies investing in spare parts. In the past 10 years, multinational auto parts companies have developed rapidly in China, and their market share is as high as 90% in key areas such as automotive electronics and engine parts and components.
Xu Changming, director of the Information Resources Development Department of the National Information Center, believes that most of the domestic automobile industry policies are aimed at vehicle companies and have less support for the parts and components industry. This directly led to the "hollowing" of China's auto parts industry, resulting in weaker market competitiveness and a serious impact on profitability.
Jia Xinguang, a well-known car commentator, said that China's auto parts industry must have independent design, research and development and integration capabilities, and it must also be the same as other industries to form a group scale advantage. Cultivating leading enterprises is the only way for China's auto parts industry to become bigger and stronger. Accelerating structural adjustment and realizing resource integration cannot be delayed. On the one hand, China's auto parts enterprises should take mergers and acquisitions and joint ventures as the first measure to prevent the impact of multinational auto parts companies, so as to ensure the stable market share of enterprises; on the other hand, they should strengthen independent research and development to improve product quality and enhance their competitiveness.
Xu Yanhua said: "China's auto parts companies should be self-reliant. Talent, technology, and capital are the factors that restrict the development of most auto parts in China. But first, companies must have the correct strategic positioning and must have the ability to effectively allocate various types of implementation strategies. Resources, enterprises, or specialization, or expansion, or transformation must be compatible with the company itself and the external environment, but also grasp opportunities.The rise of China's auto parts industry requires a group of leaders with entrepreneurial spirit, in such a Under the leadership of approved entrepreneurs, we will speed up the transformation of development methods and accelerate the formation of the ability to support the development of the automotive industry towards lightweight, electrified, and intelligent development."
Xu Yanhua said that although most vehicle manufacturers in China have formed a change in the understanding of spare parts from purchasing to establishing a supply chain system, they lack the ability to integrate supply chain resources, including core component development, system matching capabilities, and evaluation of suppliers. The lack of these standards and systems, the ability to control costs, etc. are also very important factors in the slow growth of China's spare parts companies. To make China's auto parts industry bigger and stronger, we must close cooperation between vehicle companies and parts and components companies. At the same time, the healthy development of China's auto parts industry requires the country to take the strategy as a guide to form an environment conducive to the development of self-owned brands, promote relevant intellectual resources to enhance the auto industry's innovation capability, promote zero-strategic strategic cooperation, and enhance China’s auto parts and components. Industry confidence and strength.
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