Midea enters the field of two-wheeled new energy vehicles. On the afternoon of April 26, Midea Industrial Technology (a division of Midea Group) announced the acquisition of 55% of the shares of Wuhan Tianteng Power Technology Co., Ltd.
Midea said that the strategic cooperation with Tianteng Power marks the official entry of Midea's industrial technology into the "green two-wheeled travel" market and expands its territory in the smart transportation industry.
According to the official website of Tianteng Power, its team (core members from Huawei, Gaode Infrared, Foxconn and other well-known enterprises) was established in May 2015, and in August 2016, Qianjin Intelligent, Shenzhen Sanding Automobile Industry and Wuhan Kexin Technology Co., Ltd. jointly initiated the establishment of Tianteng Power, headquartered in Wuhan, China. The main product of Tianteng Power is the mid-drive assist system of the bicycle, and its core components are the mid-mounted motor series independently developed and manufactured by Tianteng Power. The official website information also said that Tianteng Power provides power assistance systems and solutions for global bicycle manufacturers.
According to Tianyan, Midea Group subscribed to Tianteng Power for 12.48 million yuan, and midea currently accounts for 55% of the shares of Tianteng Power, and the company's shareholders also include Xinlong Health and Huagong Mingde Fund, a cooperative fund under Wuhan East Lake High-tech Group. At present, the director and general manager of Tianteng Power is Liu Han, and the reporter of Nanduwan Finance Agency noted that he has also held an executive position in Tianteng Power for many years.
Major shareholder of Tianteng Power.
Luo Sanyong, the current chairman of Tianteng Power, took office on March 30 this year, and the reporter of Nanduwan Finance Agency noted that he was also a director and manager of Guangdong Welling Motor Manufacturing Co., Ltd. Guangdong Welling Motor Manufacturing Co., Ltd. is also a subsidiary of Midea Group - on May 18, 2018, Midea has established Midea Welling Auto Parts Products Company.
On May 18, 2021, Midea announced that its subsidiary Welling Automotive Components has realized independent research and development and mass production of core automotive components. It is reported that at present, Welling auto parts products mainly focus on the core components of new energy vehicles, including co2 rotary car electric compressors, which can solve the pain points of low-temperature heating in the industry, THE EPS motors of auxiliary/autonomous driving independently developed in China, and various main drive motors.
Previously, midea revealed that the current three major product lines and five products have basically been tested on the car and mass-produced, and have brought high-quality products and technical solutions support to many world-renowned car companies and new forces.
At the end of 2021, midea group's mechanical and electrical business group was officially renamed "midea's industrial technology". For the name change, Midea Group explained that this is based on the development needs of enterprises, and in the past 5 years, Midea's mechanical and electrical business group has been carrying out new industrial layout and business boundary expansion, and the core components of automobiles are the focus.
On February 16, 2022, Midea Group revealed that the signing and groundbreaking ceremony of the new energy vehicle parts strategic base of its subsidiary Anqing Welling Auto Parts Co., Ltd. (hereinafter referred to as Anqing Welling) was held in Anqing City, Anhui Province.
At that time, the United States told Nandu reporters that the total investment of this new energy automobile parts strategic new base project was about 11 billion yuan, of which the fixed asset investment was about 6.5 billion yuan. The first phase of the project is planned to use 458 acres of land, which is located in the Yuanmeng New District of Anqing City. The project aims to focus on breaking through the bottleneck of core basic components, mainly produces power steering motors, new energy vehicle electric compressors, new energy vehicle drive motors and other categories of products, and creates three major system research and development centers and national laboratories for thermal management, main drive, auxiliary/intelligent driving. After the completion of the project, it can form an annual output capacity of 60 million sets and achieve an annual output value of 40 billion yuan.
Midea also said that Midea's industrial technology will form a strategic layout of six major global R&D centers and two major production bases in the field of new energy auto parts. In the next ten years, Midea Group will invest $1 billion in technical research and strive to become a supplier of system-level solutions for new energy vehicles.
It is worth noting that in 2021, the domestic new energy vehicle market will enter an explosive growth stage, and the trend of automobile electrification will also bring subversive changes to the automobile industry. In 2022, domestic new energy vehicle sales are still expected to exceed 5 million units, and it is expected to expand to 30 million units by 2030.
Previously, Fang Hongbo, chairman and president of Midea Group, believed that the new energy auto parts industry has broad prospects, and the scale of Midea's To B business in the medium and long term will exceed 200 billion yuan. "The core of The United States' business ideas in the next few years is to promote new growth with new strategies, and the industrial layout of new energy vehicles is a very important strategic direction for the future of the United States." Fang Hongbo said.
Written by: Kong Xueshao, reporter of Nandu Bay Finance Agency