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It seems all of the recent activity that we see described here is part of the ongoing rush of auto, and non-auto, entities to cater to the government's current NEV push. They all see definite advantages to climbing aboard.
Following the establishment of the Jiangbei Project, which the China Daily dated as occurring in January 2014, I read, at Han Tang's wautom.com website, the following, concerning the "Project". I hope it sheds some light on the question of vehicles vs. parts.
"A few days ago, a company called “Wuhu Kaiyi Automotive Co., Ltd.” rose to the surface. Kaiyi Auto was registered in the Wuhu Jiangbei Industrial Concentrative Area, and the director of the Anhui Jiangbei Industrial Concentrative Area Administrative Commission said in an interview, “Kaiyi Auto is Chery’s Jiangbei Project.” Different from the previous speculation that Chery Jiangbei Project undertook Chery’s knockout assets in transition, Kaiyi Auto, with a registered capital of RMB 2 billion, also integrates Chery’s existing assets other than passenger cars, and the peripheral businesses like Chery’s commercial car, micro car Karry, etc. will also be involved in “Kaiyi Auto.”The registration information of Kaiyi Auto indicates that it is a commercial vehicle manufacturer. Data show that the company’s business scope covers vehicle and parts technical development, auto parts manufacturing, auto (excluding passenger cars with less than 9 seats) and auto parts sales. However, this does not mean that Kaiyi Auto does not deal passenger car business. “Kaiyi is a vehicle manufacturer producing both passenger vehicles and commercial vehicles with Karry and Chery low-end passenger cars as the mainstream products,” said by an insider from Chery. This structure resembles much that of SGMW."
However as late as December 2016, gasgoo.com described the creation of Cowin this way:
Cowin Auto was a project of north of the Yangtze River (Jiangbei) set up in 2013 by Chery and was widely regarded as a product of Chery’s act to strip bad assets off.
I agree with you Laofan, that it is indeed complicated.
As for Wuliangye, they have been after a piece of the auto industry action for some time now, having invested in Brilliance engine production and more recently rumored to be making a bid for Chery itself, along with Hybrid Kinetic, Baidu, Baoneng, and Dong Mingzhu, chairman of Gree Appliances.
It's interesting to imagine what Chery would be like with someone like the former Brilliance chief, Yang Rong, at the helm.
Following the establishment of the Jiangbei Project, which the China Daily dated as occurring in January 2014, I read, at Han Tang's wautom.com website, the following, concerning the "Project". I hope it sheds some light on the question of vehicles vs. parts.
"A few days ago, a company called “Wuhu Kaiyi Automotive Co., Ltd.” rose to the surface. Kaiyi Auto was registered in the Wuhu Jiangbei Industrial Concentrative Area, and the director of the Anhui Jiangbei Industrial Concentrative Area Administrative Commission said in an interview, “Kaiyi Auto is Chery’s Jiangbei Project.” Different from the previous speculation that Chery Jiangbei Project undertook Chery’s knockout assets in transition, Kaiyi Auto, with a registered capital of RMB 2 billion, also integrates Chery’s existing assets other than passenger cars, and the peripheral businesses like Chery’s commercial car, micro car Karry, etc. will also be involved in “Kaiyi Auto.”The registration information of Kaiyi Auto indicates that it is a commercial vehicle manufacturer. Data show that the company’s business scope covers vehicle and parts technical development, auto parts manufacturing, auto (excluding passenger cars with less than 9 seats) and auto parts sales. However, this does not mean that Kaiyi Auto does not deal passenger car business. “Kaiyi is a vehicle manufacturer producing both passenger vehicles and commercial vehicles with Karry and Chery low-end passenger cars as the mainstream products,” said by an insider from Chery. This structure resembles much that of SGMW."
However as late as December 2016, gasgoo.com described the creation of Cowin this way:
Cowin Auto was a project of north of the Yangtze River (Jiangbei) set up in 2013 by Chery and was widely regarded as a product of Chery’s act to strip bad assets off.
I agree with you Laofan, that it is indeed complicated.
As for Wuliangye, they have been after a piece of the auto industry action for some time now, having invested in Brilliance engine production and more recently rumored to be making a bid for Chery itself, along with Hybrid Kinetic, Baidu, Baoneng, and Dong Mingzhu, chairman of Gree Appliances.
It's interesting to imagine what Chery would be like with someone like the former Brilliance chief, Yang Rong, at the helm.
