On the morning of the same day, the unveiling ceremony of Volkswagen (Anhui) Co., Ltd., the completion of R&D center and the foundation laying ceremony of manufacturing base were held in Hefei, Anhui. Relevant leaders from Anhui and Hefei, Chairman of Anhui Jianghuai Automobile Group Holding Co., Ltd. and CEO Feng of Audi AG (China) attended the ceremony to witness this milestone.
Dr. Feng, CEO of Audi Automobile (China) Co., Ltd.
An Jin, Chairman of Anhui Jianghuai Automobile Group Holding Co., Ltd.
According to reports, Volkswagen (Anhui)' s first pure electric vehicle based on MEB platform is expected to be put into production in 2023, and the maximum annual output of the newly completed R&D center is expected to reach 350,000, which will be completed by the end of 2022.
The joint venture with the largest proportion of foreign shares was born.
This is not JAC's first daily limit this month.
On the evening of February 2, 65438, Jianghuai Automobile announced that Audi ag increased its shareholding in Jianghuai Volkswagen until 75% of its capital contribution was completed. Jianghuai Volkswagen Automobile Co., Ltd. was officially renamed as "Volkswagen (Anhui) Co., Ltd.".
After the transaction is completed, Volkswagen will hold 50% equity of Jiang Qi Holdings and 75% equity of Volkswagen (Anhui) to realize absolute control of the joint venture company and obtain the right to operate. 65438+February 3, Jianghuai Automobile (6004 18. SH) Opening price 1 hour, and then daily limit, 10.65 yuan per share.
On the surface, this is just a "routine" operation to change the company name. In fact, this is also the first case in China that a foreign-funded car company changed its name to a holding joint venture car company.
Since then, the largest foreign joint venture company was born, which also marked the end of the era of equal joint venture in China's automobile industry, and the clarion call for the full opening of China's automobile industry was officially sounded.
Is BMW Brilliance the next joint venture that needs to be renamed?
However, although the overweight of German control has made Jianghuai Automobile's sense of existence lower and lower, judging from the reaction of the capital market, the significance of this incident to Jianghuai Automobile seems to be more positive.
Opportunity or challenge of JAC?
Jianghuai Automobile, as an independent brand main engine factory controlled by Anhui SASAC, was established in 1964, and has now developed into a comprehensive automobile enterprise group that integrates R&D, production and marketing of commercial vehicles, passenger cars and powertrains, and spans many fields.
However, after a short period of glory, the development of JAC has been "stagnant" for a long time, and its advantages have gradually lost and become inferior. It is difficult for this huge ship to turn around now.
The data shows that Jianghuai Automobile's non-net profit has been negative in the past three years, and its net profit in the first three quarters of this year was only 44 million yuan, down 64% year-on-year. Under siege, the cooperation with Volkswagen Group has become a new fulcrum for JAC to start the passenger car business.
According to the agreement, Volkswagen brand will award Volkswagen (Anhui) 4-5 products based on its pure electric platform. At the same time, Volkswagen will give priority to the production of plug-in hybrid vehicles and fuel vehicles such as Volkswagen Class B and Class C in Jianghuai Volkswagen under the premise of China laws and permits.
The development goal set by Volkswagen (Anhui) is to produce 200,000-250,000 cars in 2025 and 350,000-400,000 cars in 2029. It is estimated that the total revenue will reach 30 billion yuan in 2025 and 50 billion yuan in 2029.
In this way, with the production and mass production of Volkswagen models, the problem of overcapacity of Jianghuai passenger cars will be fundamentally solved.
We should know that since the capacity utilization rate of 20 16 reached more than 80%, the capacity utilization rate of Jianghuai passenger cars has been declining all the way; In 20 19, its passenger car production capacity was 450,000, and the capacity utilization rate was only 37%, which was in a serious surplus state.
The high cost of fixed assets and storage makes the operating cost of Jianghuai passenger car high, which leads to the continuous decline of the gross profit margin of passenger car business, which is only 3.52% in 20 19, and the depreciation expenses of production lines. This further dragged down the company's overall profit.
Changes of capacity utilization rate of Jianghuai passenger cars from 20 15 to 20 19
Secondly, JAC hopes to feed back its autonomy through joint ventures and enhance the autonomy of passenger car business with the help of German Volkswagen's technological advantages and brand value.
Since the second half of this year, JAC's passenger car business has accelerated the pace of transformation and moved closer to the public in terms of development and manufacturing.
In terms of manufacturing, JAC No.1 passenger car factory has been transformed according to the public standards, and the joint venture products with JAC Volkswagen have been produced in an assembly line to improve product quality.
Deepen cooperation with the public in the fields of electrification, interconnection, autonomous driving and intelligent travel. It will also help Jianghuai get more resources to support and realize the strategic planning goal of new energy vehicles in the 14 th Five-Year Plan.
At present, the brand pattern of Jianghuai has gradually become clear: passenger cars use Sihao brand, commercial vehicles use Ruifeng brand, and commercial vehicles continue to use JAC logo.
Jianghuai Automobile's performance is also slowly improving. According to the latest production and sales express, JAC's monthly sales of 1 1 40 vehicles increased by 23.67% year-on-year. Before 165438+ 10, the cumulative sales volume was 4 16700 vehicles, up by 7.74% year-on-year. Among them, the sales volume of pure electric passenger cars in June 5438+065438+ 10 was 5820, a year-on-year increase of 120.79%.
The recovery of market performance has undoubtedly made a good start for the transformation and upgrading of Jianghuai passenger cars. Of course, the future market performance of JAC's own brand depends on running-in with the public. If we can rebuild the independent passenger car plate with the help of Volkswagen, that is the best, otherwise, it may eventually become the "foundry" of Volkswagen.
Volkswagen establishes a new base for electric travel in China.
For Volkswagen, its ambition for China market is still great, and the field of new energy vehicles will be its next battlefield.
At the press conference, Dr. Diss, Chairman of the Management Committee of Audi AG, said: "In the next three years, we will develop vehicles based on MEB platform and new pure electric product matrix through this Anhui R&D center, and provide leading technical solutions.
This year's investment of about 1 100 million euros will accelerate the development of Volkswagen (Anhui), and the development of Volkswagen (Anhui) will further strengthen the role of China market in the Group's electrification and digitalization strategy. "
Hefei New R&D Center integrates R&D, quality assurance, synchronous engineering, full-function pre-production and testing in one park, and fully implements the integration of industrial value chain.
The second phase expansion project is scheduled to start on 202 1 to improve the production line infrastructure and equipment, such as establishing a battery workshop and a vehicle and parts inspection workshop. The scale of the pure electric vehicle factory is complete, and the maximum annual output is expected to reach 350,000, which will be completed by the end of 2022.
In 2023, the first model of Volkswagen (Anhui) will be officially put into production. The new model fully considers the preferences of young users, with avant-garde and unique design and strong visual impact. The application of MEB platform and the cooperation between key departments will also greatly shorten the development and listing cycle of new models.
At present, Volkswagen (Anhui) is actively expanding its R&D local talent pool. It is estimated that by 2025, the number of employees in the R&D team will reach about 500. At the same time, R&D experts from the German headquarters will also provide professional training for the employees.
In addition, the Group also plans to establish a digital center in Hefei, aiming at providing car networking and digital services for the Group's new energy products to meet the needs of more consumers.
It is not difficult to find that the intentions of both sides are very obvious. Volkswagen took a fancy to JAC's production capacity and cheap valuation. Jianghuai Automobile not only has the opportunity to get out of the embarrassing situation of continuous decline in capacity utilization, but also introduces advanced manufacturing technology. Both sides seem to have achieved a win-win situation.
But under the "calm", it is still difficult to hide the undercurrent. It is foreseeable that the new story between JAC and Volkswagen has just begun. In the future, the interest game between Chinese and foreign joint venture car companies will intensify.
Words? |? calabash brothers
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.