Chang’an Automobile restructuring plan to achieve through a series of mergers and acquisitions in the global expansion of
April 19 Xinhua China — Chongqing Chang’an Automobile Co., Ltd. (000625. SZ: Quote) (200625. SZ: Quote) said Sunday, Chang’an Automobile overseas will substantially realize the approach of endorsing the internationalization method, through a succession of fusions and acquisitions restructuring pursuits to realise the worldwide expansion.
Xu, person in accuse of the financial gathering to continue flat in the 13th Shanghai International Auto Show held in front of a press group debate that “the fiscal critical purpose interval, to extend overseas and it is probable that an valued opportunity.” However, he did not divulge the precise objectives of overseas fusions and acquisitions.
When requested for the acquisition of Ford (F. N: Quote) if there’s interest in Volvo, said Xu Ping, presently nothing less knowledge could be disclosed.
Chang’an Automobile, said a press issue supplied, to 2012, Changan will invest 20 billion yuan R & D and constructing groundwork for the building of the motor, the Ford Motor Company is the U.S. colleague of China.
The business furthermore said that the January to March this year, Changan traded 306,500 vehicles, an boost of 13%. The third quarter of 2009, Chang’an Hybrid will start sales for one-by-one users, designs in the next two years, the realization of hybrid kind have been 10,000 sales.
China Association of Automobile Manufacturers liberated after written knowledge presented China’s motor vehicle sales in March the complete 1,109,800, an advance of 5.01%, of which commuter vehicle sales in March in addition bang 772,400 of the all-time high, an advance of 10.26 out of 100, in February than the 607,300 than the expansion of Central 27.2%.
Chang’an Automobile A shares Friday closed at 7.64 yuan, or 0.23 yuan, or 2.92 percent.
Xu Ping said, “We are actively doing M & A activities at home and abroad, but which, because the talks have not, so there is nothing I can say.”
He believes that a financial crisis if it continued longer, a number of European and American automakers fell, merger and reorganization, the greater the possibility of contraction, but the Chinese automobile enterprises do not have much impact, but for the Chinese enterprises to enter the car provide more possibilities for the international market.
He sharp out that the Chang’an Automobile vegetation in Mexico from the viewpoint of the entire of the North American market in alignment to give better play to the effectiveness of the constructing base.
In February this year, Chang’an Automobile AUTOPARK and Mexico noted a plan connection endeavour accord to set up production plants in Mexico, which Chang’s sixth overseas plant.
Ping Xu furthermore said that Changan to strategic collaboration and junction project partners to extend to make deeper the grade of collaboration, the junction project to do a good job and accomplish their own emblems and junction coordination of widespread development of the brand.
Changan Ford Mazda Automobile Co., Ltd. by the Chang’an Automobile (000625. SZ: Quote) (200625. SZ: Quote), Ford (F. N: Quote) and Mazda (7261. T: Quote) a tripartite joint venture, the three parties each 50%, 35% and 15% equity. The company’s 2008 sales of passenger cars in China, ranked No. 10 industries.
The Chang’an Automobile, Shanghai Auto will launch Cheung Yuet Cheung HS, Alto and other new models as well as the number of independent R & D engine.
** In rank to micro-oriented, car-based **
Xu Ping, introduced in the Chang’an Automobile sales in the first quarter, small displacement vehicles of relatively rapid growth, including micro-cars increased more than 40%, reflecting the revitalization of the national industrial policy impact on the market, but also the layout of the company ahead of time to open up the results of micro-car market .
He incisive out that throughout the next three years Changan will adhere to the “micro-oriented, car-oriented” development approach to farther advance the micro-car R & D, expansion efforts, mostly in the makeup of selling paths and webs to extend to countryside areas.
Bao-Lin Zhang, general supervisor of Changan Automobile said that the next 3-5 years, Changan will launch 10 own emblem vehicles, five micro-car emblem, with the aim of self-brand vehicles to go in the peak three in the Chinese market.
The company’s press release also pointed out that in 2012 plans to achieve annual sales of motor vehicles for more than two million, the market share of around 15%, of which micro-car to reach about one million cars reached 800,000, about 12% market share .
Ping Xu furthermore said that Chang will extend to encourage the new power vehicle development and the customary going by car force for vehicle upgrades, the next five years, hybrid, untainted electric driven vehicles is the aim of strategic investment.
Deputy General Manager of Changan Automobile said the Ministry of Finance with the introduction of new power vehicles grant principle, which is anticipated to have 1,000 next year will be the capacity of Changan hybrid vehicles in 13 foremost towns over the homeland check run. With the expansion of output and sales, new power, vehicle output and will step-by-step decrease the acquisition cost.
China’s Ministry of Finance said beforehand, the midpoint government on the pay for of energy-saving and new vitality vehicle by comparable vehicle supported on the conventional send, will give due attention to the amount of the effect of elements for instance technological developments to give a one-time fastened subsidies. Of commuter motor vehicles and light-weight economic vehicles, hybrid vehicles supported on hybrid and fuel economic procedure is pulled apart into 5 records, the largest funding for each 50,000 yuan; wholesome electrical vehicles per 60,000 yuan of subsidies; extra funds for fuel cell vehicles per 250,000 million.
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