On July 22, Huayu Automotive revealed that the company had recently reached an agreement with the German KSPG Group to acquire KS held by KSPG by Huayu Automotive Systems (Shanghai) Co., Ltd., a wholly-owned subsidiary of Huayu Automobile established in Shanghai Free Trade Zone. Aluminium-Technologie GmbH ("KS AluTech") is a 50% stake. The parties to the transaction have recently signed the relevant agreement.
Recently, domestic auto companies have frequently acquired auto companies and invested in car projects around the world, which has become a "sword" to stir up the world auto market. Analysts believe that the European and American car markets are still relatively weak. At this time, Chinese car companies are taking acquisitions in the world, and it is expected to acquire some advanced technologies and quality markets.
According to the agreement signed by the two parties, KSPG will integrate its automotive aluminum alloy casting business in Germany into its wholly-owned subsidiary KS AluTech by merger and share conversion. The integrated core business of KS AluTech is the aluminum alloy cylinder block of automobile engine. The main products are low pressure casting cylinder, high pressure casting cylinder, cylinder skirt, cylinder machining, aluminum alloy body structure, etc. Aluminum alloy casting technology has strong strength. It is reported that the company has three production bases in Germany, mainly for the German Volkswagen, Porsche, Volvo, Daimler, BMW, Peugeot and other vehicle customers to provide supporting supplies.
In the previous May, Huayu Automobile just announced that its wholly-owned subsidiary Yanfeng Automotive Trim Systems Co., Ltd. and US Johnson Controls Co., Ltd. signed a global cooperation framework agreement for automotive interior business to cooperate on automotive interior products. Yanfeng intends to integrate its superior resources with Johnson Controls and invest in the establishment of a global automotive interior company controlled by Yanfeng in the Shanghai Free Trade Zone. The new company's sales are expected to reach US$7.5 billion, making it the global industry. the first.
Huayu Automotive said that the acquisition of KS AluTech's equity is another important measure for the company to further seize the opportunity of the global automotive industry adjustment and development, and accelerate the implementation of the "internationalization" strategy through a combination of equity acquisition and deepening cooperation. The acquisition will help Huayu Automobile to grasp the future development trend of automobile energy conservation and environmental protection, master the lightweight application technology of automobile engine block and body structural parts, and increase the expansion of international and domestic markets to further expand the automobile. Cast aluminum global business creates good conditions.
Recently, domestic car companies frequently attacked the global market. Last week, BYD announced that it will invest in Brazil to set up its first electric bus factory and set up a research and development center and prototype manufacturing center. The initial investment will reach 200 million reais (about 91 million US dollars). In March of this year, Dongfeng Motor Group acquired a 14% stake in Peugeot Citroen Group for 800 million euros and was listed as the largest shareholder of PSA Peugeot Citroen Group with the French government. In the same month, SAIC and the Volkswagen Group of Germany signed a joint statement, the two sides will carry out fuel cell technology cooperation, and in conjunction with Shanghai Volkswagen to accelerate the industrialization of plug-in hybrid vehicles. In February, China Geely Holding Group acquired British electric vehicle manufacturer Emerald Automotive. In the next five years, Geely promised to invest at least US$200 million to develop Emerald Automotive series electric vehicles. In February of this year, Wanxiang Group acquired the acquisition rights of the US luxury electric vehicle brand Fisker for US$149.2 million. BAIC Group also publicly stated that it is seeking to acquire quality foreign car brands. Dong Haiyang, president of BAIC International (click to view the latest person news) said that the company is looking for high-end brands in Europe and the United States.
Sword refers to the technology market Behind the frequent attack by Chinese automakers is the relatively weak European and American auto market. Since 2005, the three major auto giants in the United States have experienced frequent crises, and the haze of bankruptcy and reorganization has been plagued for a long time. The financial crisis since 2008 has caused a big blow to European auto giants. According to PwC Autofacts, in the past decade, the Chinese auto market has grown nearly fivefold, and sales have increased from 4.3 million to 1.90 million. At the same time, the global economy is in a recession, and other auto markets have experienced a severe decline.
This provides an opportunity for Chinese car companies to attack around the world. The Chinese car companies are also moving towards the world as well as the process of transforming their own development models. According to Rick Hanna, PwC's global automotive industry partner, China's automakers are now shifting from a low-cost competitive model to an integrated automaker. In this transition, Chinese automakers are in desperate need of new technologies to enhance their competition. Force, many Chinese cars have strong motivation to go out and acquire new technologies. Some Chinese automakers and component suppliers have completed some M&A activities internationally. The acquisition of the equity of KS AluTech by Huayu Automobile will enhance the capacity of Huayu Automotive in the development and application of automotive lightweight technology, and form a global supporting supply system for the automotive cast aluminum business of Huayu Automotive.
In addition, Chinese car companies are also considering the acquisition of overseas markets. When Geely acquired British electric vehicle manufacturer Emerald Automotive, it said it would first develop new energy vehicles for London taxis and focus on future batches of taxis to other markets, including China. When commenting on BYD's entry into the Brazilian market, industry analysts believe that although emerging markets such as Brazil are currently inferior to the Chinese market in terms of vehicle production scale and market size, there is room for growth in the future, and the growth rate may exceed the Chinese market. At the same time, under the circumstances that the domestic auto market business has little substantial growth at the current stage, it is more eager to boost the company's performance through business growth in overseas markets.
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