Once upon a time, the statement about the "zero contribution of the Chinese side" of the joint venture car companies was the pain in the hearts of some independent brands, and today, when the collective upward and the stock ratio of independent brands are open, it seems to be put on the table in another way.
On March 1, The Stellantis Automotive Group, which is the merger of Peugeot-Citroën and FIK, held a "Dare Forward 2030" strategic planning conference. In the Chinese market, the group has a joint venture with Dongfeng Motor, Dongfeng Dongfeng Dongfeng Motor, and GAC FCA, and GAC FCA, a joint venture.
The global automotive group, which has not yet Chinese name, sold about 6.14 million vehicles worldwide in 2021, with full-year net revenue of 152 billion euros, an increase of 14% year-on-year, and net profit of 13.4 billion euros, nearly tripling the year-on-year. However, the combined annual sales of the two joint venture car companies in China are only more than 100,000 vehicles.
Prior to this, the former FCA Group's former envisioned cooperation partner, the Renault-Nissan-Mitsubishi Alliance, after experiencing personnel changes that swept the whole group, issued a "leader and follower" strategy, dividing the key markets of the three major brands, and cooperating in electrification and intelligent division of labor. Among them, Nissan is tied to the Chinese market and has become one of the two poles of the group's development.
At this press conference looking forward to 2030, the European and North American markets continue to be the absolute focus of the Stellantis Group, and the strategy for the Chinese market is arranged to be released at the end, and even the related remarks are quite "complaining".
As the rumor goes: in the DPCA auto sector, the PSA Peugeot brand is dominated by The Stellantis Group, while the Citroën brand is dominated by dongfeng Group, and the DPCA Automobile Manufacturing Base will be open to third parties; in the GAC FCA sector, it has negotiated with GAC Group to increase the share ratio to 75%, and is waiting for approval by the competent authorities.
In this way, stellantis group still has hope for the Chinese market, after all, increasing the proportion of shares in the joint venture company is also to take out real gold and platinum, but this is not the case, or the future development is unknown.
After comparing the content released by Stellantis Group in China with overseas content, we found that Chinese part of the content that can be said to be very critical is missing, and even the deep insight of The Stellantis Group into the Chinese market.
In the Chinese edition of the announcement of the Stellantis Group, the content of the Chinese market is: "Planning an asset-light business model to reduce fixed costs and net revenue of 20 billion euros". However, there is a sentence in the overseas version of the announcement that has not been translated: "limit exposure to geopolitical risk", which translates to "reducing geopolitical risk".
When did China's auto market become a risky place?
In response to foreign media questions about what the "asset-light model" of the Chinese market means, Stellantis Group replied that GAC FCA will only retain one factory, while imports and domestic production will also retain the "one JEEP" model. However, GAC FCA's Guangzhou plant has long been acquired by GAC Aeon, and there is currently only one plant in Changsha.
In addition, the planning of the Chinese market is more about the JEEP brand and the import business of Masarati, hoping to reverse the group's poor performance in the Chinese market.
Prior to the launch, Stellantis Group had issued a separate statement to increase its shareholding in GAC FCA to 75%, regardless of the face of its Chinese partner GAC Group.
GAC Group has issued a formal announcement: "The shareholders of the two parties to the joint venture have conducted in-depth communication and consultation on their joint venture and cooperation operation and GAC FCA's revitalization plan, and at present, the two sides have not signed a formal agreement on the adjustment of GAC FCA's equity." ”
Stellantis Group is jokingly called the "Loser Alliance" in the Chinese market, after all, Peugeot and Fiat have already brought down their first joint venture in China, and now the new joint venture is not having a good time. DPCA and GAC FCA have shut down a manufacturing plant and sold dismal sales.
Dongfeng Company's cooperation with Dongfeng DPCA, sales in 2021 doubled year-on-year, more than 100,000 vehicles, the future may usher in a new change, it is not yet clear, who this third party will be, but it is always a hope.
As for the future of GAC FCA, in addition to hoping to adjust the stock ratio, it has almost become an ambiguous unknown.
GAC FCA sales in 2021 is only 20,123 vehicles, GAC Group gave up its controlling position, getting out of this quagmire may be one of the directions of cooperation between the two sides, but one side issued a statement to seize the dominant position in a high-profile manner, and the other side made a high-profile statement to save face, so such a cooperative relationship is not cool.
From the content of this conference, Stellantis Group released a grand plan for the global market, but this future has nothing to do with China, or does not put the Chinese market in a noteworthy position, but only an attempt to save the previous failure.
As for the future performance of the Chinese market, it is not only the change measures of the Stellantis Group, but also the Chinese users' own interpretation of products and services. All of this may not be too important for both sides.
By the way, is the Opel brand still coming to China?
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