[News-Oxcart Network]
Editor's note: The foreign equity ratio of the automobile manufacturing industry is about to be fully liberalized, and the days of lying win are gone, what kind of ice and fire song will the joint venture car companies interpret? BMW Brilliance bears the brunt of it, followed by Dongfeng Yueda Kia, who will be the next turn? The new issue of the "Cattle People Say" column of Oxcart Network focuses on the foreign equity restrictions that will be completely abolished in the passenger car field, and invites many big coffees to talk about the joint venture in their eyes and the future changes and changes.
According to the National Development and Reform Commission and the Ministry of Commerce yesterday, the Special Administrative Measures for Foreign Investment Access (Negative List) (2021 Edition) and the Special Administrative Measures for Foreign Investment Access in Pilot Free Trade Zones (Negative List) (2021 Edition) show that from 1 January 2022, the restrictions on foreign ownership in passenger car manufacturing and the restriction that the same foreign investor can establish two or less joint ventures in China to produce similar vehicle products will be abolished.
From special vehicles, new energy vehicles (2018), commercial vehicles (2020), and passenger cars (2021), the foreign equity ratio of China's automobile industry is about to usher in a full liberalization.
In the tug-of-war between the shares, the BMW Group has long been ready to move. According to the relevant agreement, it is expected that by 2022, the BMW Group will complete a transaction of 3.6 billion euros to acquire 25% of BMW Brilliance shares, when the BMW Group's stake in BMW Brilliance will increase to 75%.
In addition to the BMW Group, Daimler Group, the parent company of another luxury brand Mercedes-Benz, is also eyeing the big fat meat of the Chinese market. However, compared with the faltering brilliance group, BAIC Group obviously has more game capital in the tug-of-war of the stock ratio.
In the middle of this month, BAIC Group announced that "'Beidaihe' has opened a new chapter", that is, "through continued investment to hold 9.98% of Daimler AG shares in 2019".
Saying that it is a "new chapter" is actually a yellow flower of tomorrow. Concealed for two years, in the last month before the official liberalization of the foreign equity ratio, the announcement of the news that has long been an established fact, BAIC's intention is nothing more than to show that even if the shareholding ratio changes in the future, it can still occupy a certain degree of initiative.
In addition, the determined withdrawal of Dongfeng from Dongfeng Yueda Kia's equity, the confusing change of Beijing Hyundai's equity, and the withdrawal of GAC FCA from GAC will all be the "highlights" after the full relaxation of equity restrictions.
Jia Xinguang, executive director of the China Automobile Dealers Association, pointed out: "Originally, the joint venture was not a model for developing the automobile industry... The strategies of the two sides are different, we want to develop independent brands, independent research and development, and foreign parties must occupy the Chinese market and make profits. Therefore, there has always been a conflict within the joint venture, competing for power and profit. ”
Regarding the development of the foreign equity ratio after the full liberalization, judging from the current interview with the oxcart network, the industry generally believes that for China's automotive industry, the impact after the full liberalization is not as great as imagined four years ago.
Fu Yuwu, honorary chairman of the Society of Automotive Engineers of China, believes that the current Chinese automotive industry has opened up the innovation chain from upstream and downstream, "after so many years of baptism, we have finally ushered in the ability to cope with this change."
While Brilliance retreats again and again, BYD, Geely, etc. have completed the role switching of Chinese car companies in the process of cooperation with foreign capital in another dimension.
BYD established a joint venture with Toyota as early as last year. The latest news came out that in the cooperation between the two sides, design, research and development, and manufacturing are led by BYD, and the "blade battery" will also be installed on the new car; what Toyota has to do is acceptance and OEM.
In August this year, Geely also signed a memorandum of understanding with Renault, announcing an innovative partnership. Although the cooperation between the two can be seen to a large extent as a "magic move" for Li Shufu to enter the US market, it reflects the rise of the head Chinese brand behind it, and even the confidence of China's automobile industry in the era of new energy and intelligence cannot be ignored.
Zhang Xiaoliang, founder and CEO of So.Car, told Oxcar that the historical mission of the joint venture company has been completed, and the importance of whether the joint venture company has or not and who controls it in the future will only become weaker and weaker, "If foreign capital is understood as Nokia in the automotive industry." After Apple, Xiaomi, oppo, Huawei occupy the market, nokia's business model is still important? ”
However, Fu Yuwu still pointed out that the share ratio is fully liberalized, and there may be more wholly-owned enterprises, but joint ventures are still an important option. At present, Chinese car companies have come up with Chinese solutions in terms of bicycle intelligence and vehicle networking, and have gone out of China's speed, and far-sighted foreign-funded enterprises will still cooperate with Chinese car companies in these aspects.