China Car Forums

China Car Forums (https://www.chinacarforums.com/forum/index.php)
-   Beijing (BAIC) Motor (https://www.chinacarforums.com/forum/forumdisplay.php?f=69)
-   -   BAIC plans to merge with another Chinese automaker (https://www.chinacarforums.com/forum/showthread.php?t=3795)

CCF mod 01-25-2008 11:13 AM

BAIC plans to merge with another Chinese automaker
 
Is that going to be Soueast Auto?

Quote:

January 25, 2008 - Following the merge of SAIC and Nanjing Auto last month, Beijing Automotive Industry Holding Co. (BAIC) is reportedly seeking a tie-up with an automaker in China's southeastern province of Fujian, Chinese newspaper Beijing Times said.

BAIC has made a few rounds of negotiations with Fujian-based Soueast Automotive but no details has been revealed, the newspaper said, citing an unnamed company source.

BAIC chairman Xu Heyi confirmed Wednesday that his company plans to merge with another Chinese automaker. He confirmed that a final decision will be reached by the end of this year, but did not elaborate.

Separately, China's third-largest car maker Dongfeng Motor Group Co is in talks to acquire smaller domestic competitor Hafei Automobile Group. Unlike Beijing Auto and Soueast Auto, Dongfeng has already launched a due diligence investigation on the mini-vehicle maker Hafei, according to an anonymous source yesterday.
source: Gasgoo.com

dragin 02-04-2008 09:02 AM

an important choice
 
BAIC teaming up with Soueast? I just don’t know about that. When we look at earlier partners Chrysler Jeep, Hyundai, and Mitsubishi, and the less than exciting outcomes of their tie ups with BAIC, I really wonder if it’s wise for Soueast to enter such a gamble. I think it could find a better partner. Even Hyundai would have been better off teaming up with Jianghuai Auto further south from the start. That’d be a more mainstream location for the frisky Korean giant.
BAIC one of those old holdout SOE’s, is too close to the bureaucratic center to be fluid.
In fact what I would prescribe for BAIC would be a move of its entire operation to Kunming, so it would be able to say, “Heaven is high and the Emperor is far away.” Beijing really doesn’t want that dinosaur in the middle of the bustling Chaoyang district anyway.




CCF mod 05-22-2008 01:03 PM

Beijing Auto may buy Changfeng Motors for expansion.

Quote:

May 22, 2008 - Beijing Automotive Industry Holding Co., Ltd. aims to expand its annual production capacity to 2 million units by 2010, and is set to achieve this expansion goal by mergers and acquisitions (M&A) to fill the yawning capacity gap. An industry insider said the subject of Beijing Auto's immediate M&A may be Hunan-based Changfeng Motors.

Beijing Auto is expected to produce and sell only 1 million vehicles and has difficulty in doubling its capacity to 2 million units in 2010. In the coming two years, Beijing Hyundai will have an annual capacity of 600,000 units, Beiqi Foton will boost its capacity to 800,000 units from the current 600,000 units, and Beijing Benz will maintain its current 100,000-vehicle capacity. In addition, the Beijing Auto's southern manufacturing base under construction in Hunan province will have a capacity of 200,000. These combined together, the 2 million-unit capacity goal still has a long way to go.

However, Beijing Auto has decided to fill in this capacity gap by merging and acquiring other medium-size Chinese automakers, and Hunan Changfeng Motor is said to be an ideal choice, because Beijing Auto is building a facility in the province, and Beiqi Foton has already kicked off the operation of its manufacturing facility in the provincial capital city of Changsha. More importantly, Changfeng Motors, whose capacity is just enough to fill the gap, has expressed its willingness to cooperate with Beijing Auto.

The two carmakers located in the northern and southern parts of China both have the experience of making Mitsubishi-technology SUVs and their current different techniques can complement each other. If they are merged, Beijing Auto is likely to expand its capacity enough to join the ranks of SAIC and FAW as one of China's auto-making giants.
source: Gasgoo.com

Joest 05-26-2008 03:51 AM

Re: BAIC plans to merge with another Chinese automaker
 
I read yesterday that DongFeng, SouEast and Guangzhou Auto Group are also discussing with Changfeng.

I made an article about it:
http://www.leblogauto.com/2008/05/ca...changfeng.html

I don't understand why so many manufacturer are after Changfeng. What is so special with him?

CCF mod 02-18-2009 01:33 PM

BAIC to acquire Fujian Motor, Changfeng Motor.

Quote:

February 18, 2009 - To make itself one of China's auto giants, Beijing Automotive Industry Holding Corp (BAIC, or Beijing Auto) is set to expand by acquiring and restructuring Fujian Motor and Changfeng Motor, two Chinese carmakers related to Mitsubishi Motors, said 21st Century Business Herald today. The acquisitions will also help the Chinese partnerships of Daimler, Chrysler and Mitsubishi unite and focus on BAIC.

BAIC, the parent of commercial vehicle Beiqi Foton Motor and Chinese partner of Hyundai Motor and Daimler AG, aims to expand itself and become a Chinese auto giant like FAW, SAIC and Dongfeng, with annual sales revenue exceeding 100 billion yuan ($14.7 billion). To this end, BAIC has found no better choices than to acquire and restructure Fujian Motor and Changfeng Motor in southern China, as both of them have or had some relation with the Beijing-based auto group.

Fujian Daimler, which was founded by Fujian Motor, Daimler AG, and Taiwan's China Motor Corp in 2007, produces Daimler's commercial vehicles such as Mercedes-Benz Vito and Viano. After Chrysler pulled out of the three-way joint venture Beijing Benz-DaimlerChrysler (BBDC) in late 2008, the Beijing venture has shifted its production to Mercedes-Benz E-class and C-class cars for the Chinese market.

BAIC expects to restructure and develop Changfeng Motor into China's biggest SUV-manufacturing base, banking on Changfeng's strengths in the SUV market and its joint venture with Mitsubishi Motors. In Sept. 2008, BAIC started building a new plant in Hunan province's Zhuzhou city, close to Changfeng Motor, to produce BAIC's own brand passenger vehicles from 2010. The Zhuzhou facility is seen as BAIC's obvious advance to Changfeng.

Mitsubishi Motors, who operates its biggest Chinese venture Southeast (Fujian) Motors with Fujian Motor Group, has expected to integrate its operations and ventures in China under a local auto giant. Before its tie-up with Fujian Motor and Changfeng Motor, the Japanese carmaker had cooperated briefly with BAIC though their mutual U.S. partner Chrysler.

BAIC achieved 75 billion yuan in sales revenue last year and expects the figure to reach 100 billion yuan in 2009. The sales growth of 34.3% this year would be easier to come by if BAIC could complete its acquisitions of domestic automakers in ten months. The company said the restructuring plans are made ready, now only awaiting regulatory approval.
source: Gasgoo.com

CCF mod 05-05-2009 10:49 AM

Beijing Auto in talks to buy Lifan.

May 5, 2009 - Chinese automaker Beijing Automotive Industry Co is in talks to acquire Chongqing Lifan Automobile Co, Lifan Group's auto making subsidiary, the Economic Observer reported Tuesday, citing people familiar with the deal.

Commenting on the talks, Yin Mingshan, president of Chongqing Lifan Holdings, said that "Lifan welcomes partnership negotiations with any auto groups provided that the partnership allows Lifan to retain its own brand and voting rights on the board."

Mr. Yin did not specify the details of any potential deal but said Lifan is always open to acquisitions and mergers.

Last year American International Group bought a 13.5% stake in Lifan Group for $90 million, making AIG the second largest shareholder in the group.

Beijing Auto, a Daimler AG partner, is the parent of truck maker Beiqi Foton Motor Co. It has decided to make itself an auto giant group with sales revenue to reach 100 billion yuan ($14.7 billion) in 2009. To achieve this goal, one of the best ways is to merge and acquire the local, national and even global auto assets.

Established in 1992, Lifan is China's largest privately-owned automobile and motorcycle manufacturer based in Chongqing. In 2008 Lifan achieved sales revenue of 13 billion yuan.
from Gasgoo.com

dragin 05-05-2009 07:31 PM

Re: BAIC plans to merge with another Chinese automaker
 
But we haven't heard anything more about the merger of BAIC and Soueast that was reported at the new year. Maybe its the pressure from Beijing to shrink the top 14 down to 10 companies as announced also at the start of the year.
But BAIC is already preparing a new production base in Hunan so its anyone's guess as to what will become of these talks.
And would you believe that Chrysler, the company that put BAIC on the map (with AMC), just declared bankruptcy.




CCF mod 07-07-2009 12:59 PM

Beijing Auto to announce merger with Fujian Motor.

July 7, 2009
Beijing Automotive Industry Corp is ready to announce a merger with Fujian Motor Industry Group that will cement its bid to become the mainland's fourth-largest carmaker, the South China Morning Post reports on Sunday.

Citing sources, the newspaper reports that the two parties are currently finalizing the shareholding structure of the proposed new company and a formal statement on the deal is expected to be released by the end of this month.

However, Beijing Auto spokesperson Wang Hong claimed that the report is mere speculation at this point and declined to comment further.

Beijing Auto was reportedly planning to expand itself and become a Chinese auto giant like FAW, SAIC and Dongfeng by acquiring Fujian Motor and Changfeng Motor in South China. But it did not ever confirm its intention.

Fujian Motor, located in east China's Fujian province, has been cooperating with Daimler AG (for Vito and Viano), Chrysler LLC (for Dodge minivans) and Mitsubishi Motors, and these global carmakers are or were partners of Beijing Auto.

source: Gasgoo.com


All times are GMT -5. The time now is 01:47 PM.

Powered by vBulletin® Copyright ©2000 - 2020, vBulletin Solutions, Inc.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.