Zhang Yan: Well, let's take a look at another move by Chinese auto companies. Everyone knows that following the financial crisis, in 2009, Chrysler and other manufacturers were also trapped in bankruptcy protection like Opel. Hummer, Volvo and Saab and other traditional brands, they are also actively looking for buyers. The Chinese auto companies frequently appear in the news of the large-scale mergers and acquisitions of the global auto industry. Let's take a look.
Commentary: On October 9, General Motors and Sichuan Tengzhong Heavy Industry signed a definitive agreement on the sale of the Hummer business. Tengzhong shall acquire the ownership of the Hummer brand, trademark and trade name, and have the right to use specific patents necessary for Hummer vehicles. The buyer will also undertake the sales and marketing agreement signed between Hummer and the existing distributors. Although the transaction will not take effect until the approval or review of the competent authorities of China and the United States, this is already the most successful case in this round of overseas mergers and acquisitions of Chinese cars. . Since the end of last year, Geely Automobile has continued to receive news that Ford’s luxury car brand Volvo was acquired. In January of this year, Geely publicly stated that it is participating in the acquisition of Volvo, but since then, there have been no further news and the three parties have been ignorant. . Some analysts believe that even if we ignore the other strong competitors participating in the bid, Geely, whose market value is only more than 3 billion yuan, will have to purchase Volvo with a code price of at least 20 billion yuan. Geely has successfully acquired the Australian DSI transmission line company, which is also considered one of the successes of overseas mergers and acquisitions by Chinese auto companies. In addition, Beiqi, which once intended to bid for Saab, entered into an agreement with the Swedish sports car manufacturer Konishikeda Group in September. As a minority shareholder, it can also be said to have little success. After the failure of the acquisition of Ssangyong, SAIC was more cautious about overseas acquisitions. However, it has recently been reported that SAIC is considering buying a British manufacturer of light commercial vehicles called LDV Group. If the acquisition is successful, SAIC will be The UK produces and sells light commercial vehicles locally.
Guest Interview: Zhang Yongwei Associate Researcher, Development Research Center of the State Council
Yu Wei?F Chief Engineer, Institute of Economic and Technical Information, China Automotive Industry
After reading the production status and investigations of major auto companies, what should we find out after the joy of China's auto companies in the process of mergers and acquisitions, compared to other automobile-powerful countries that produce tens of millions of cars per year? Today, we invited our guests at the scene. One is Zhang Yongwei, an associate researcher of the State Council Development Research Center. Thank you for coming. The other is just our expert, Yu Minmin, chief engineer of the Institute of Economics and Technology of the Chinese Automotive Industry. Well, let's talk about what we should find apart from joy.
Zhang Yongwei: The scale of 10 million vehicles should say that we are a big country of cars, but is it a power? There are still many hidden concerns behind us. I think it may be mainly manifested in two aspects. One aspect is when the global automotive industry is all in the process of technological transformation. Behind the 10 million vehicles, we see the speed of technological transformation in China. Slower, then what is the direction of automotive technology transformation? It is low consumption and low emissions. For example, the difference between our country's current level, our fuel consumption per 100 kilometers is 8 oils, and now compared with foreign countries, compared with Europe and the United States is probably worse than an oil, and now the world is concerned about the relatively large carbon emissions from the automotive industry.
Tens of millions of cars with an annual output
Zhang Yongwei: The United States' carbon emissions in the past 16 years is about 1 kilometer and 150 grams. Japan needs to reach 115 grams, and Europe is more advanced. He wants to reach 95 grams. We are now our main domestic production capacity, and the carbon emission standard is about 189 grams, which means that if we want to be in line with international standards in this respect, our scale will be quickly and easily connected, and it will easily be exceeded. However, in the key technologies, especially in areas such as reducing fuel consumption and reducing emissions, our gap is still very large. This is the first one.
The second aspect of the transformation of the automobile industry is that the development of new energy vehicles is very fast. I have turned over 10 million vehicles and the proportion of new energy vehicles is less than two-tenths. We had expected to reach 10 years. Or, two more years later, our new energy vehicles have reached 5%, or even higher, and the gap is still very large. That is to say, although we are talking about new energy vehicles earlier, we still have the speed of development. Still relatively slow, in the future, 10 million vehicles, or 15 million vehicles, the new energy vehicle capacity accounted for 10% or 20%, indicating that our car's structure is more reasonable.
Zhang Yan: What do you think we should find out, Mr. Na Yu?
Yu Yumin: The release of 10 million units of production and sales, the size of the market and the scale of production capacity is very gratifying, but behind this 10 million vehicles, there should be a lot of figures that we should interpret in detail, such as The composition of 10 million vehicles and the composition of production output, we take the car we are all familiar with as an example. The 10 million cars are close to 5 million cars and less than 5.1 million vehicles. Among the 510 cars, we follow the original When the company’s location in the country of production is divided, it’s probably less than 30% of our own brands. The rest are all American, German, Japanese, Korean, etc., legal systems, which together add up to 70%. Therefore, if you can subdivide it, you can imagine that this analogy may not be correct, but you can make an analogy. This is equivalent to the vehicles originally produced in these countries and moved to production in China. Can these productions be fully calculated in our own? Under the capacity quota? It may be for everyone to discuss together. I also hope that this tens of millions of production will be done by us, and this may make everyone more happy.
The second thing that I think is the hidden concern is that we are just talking about cars. For example, our trucks perform better. The vast majority of our cars so far are the introduction of technology. What is the introduction of technology? concept? I understand that we are lacking in technology research and development capabilities, and we lack the ability to research and develop technologies. We only introduced them. However, the current introduction, in terms of productivity, has done a good job in meeting market demands, but There is still a lack of independent research and development capabilities, such as the number of people in our R&D team, our research and development costs, and the proportion of total sales expenses. According to my understanding, major foreign auto companies, their production personnel, The ratio of salespeople to R&D personnel is close to 1:1:1, which is a one-third concept and close to this concept. R&D expenses should account for about 5% of total sales revenue, even higher. And in these two areas, we still have a huge distance to catch up with. I hope this process of catching up can achieve our ideal goal as soon as possible and have its own research and development capabilities.
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