AutoBeta(AutoBeta.net)02/18 Report--

Following Baiteng's acquisition of FAW Huali and che Hejia's acquisition of Chongqing Lifan, another new car-building power is going to acquire traditional car companies. Recently, domestic media reported that Aichi will acquire 50% of Lufeng Motor.

China Automotive News reported that the new car maker Aichi Motor will acquire 50% of Lufeng Motor, while Jiangling Automobile Group and Chongqing Changan Automobile Co., Ltd. account for the remaining 50%. As a result, Aichi Motor will achieve a relative holding in Lufeng Motor. In addition, Jiangling Holdings' non-Land Wind assets may be taken over by a new investment company.

As early as last year, it was reported that there was a move between Aichi and Lufeng. At the end of last year, the media revealed that Lufeng Motor had rented a factory owned by Aichi, a new force in car building, and that Aichi and Lufeng Motor might cooperate in the form of acquisitions or joint ventures.

According to media reports, the assets acquired by Aichi Motor are only the relevant sectors of Lufeng Motor, and the cooperation is already in steady progress, and the equity will be formally delivered after the asset evaluation is completed. Jiangling, Changan, Lufeng and Aichi and other parties confirmed the equity acquisition, but Lufeng's asset valuation and specific delivery time were not disclosed by Aichi and Jiangling, Changan and Lufeng.

Jiangling Holdings headquarters has two major bases, Changbei Base and Xiaolan Base. It is understood that after the completion of the acquisition, the above Lufeng production base will be incorporated into Aichi Automobile, while Aichi Automobile will have high-quality production base resources and scarce production qualifications.

Lufeng is also an "online celebrity" in China. Its Lufeng X7 is well known by the Chinese for its uncanny resemblance to Land Rover Aurora. Lufeng is a wholly owned car brand owned by Jiangling Holdings, and its first product, Lufeng X9, was sold nationwide in 2002. In November 2004, Chongqing Changan Automobile and Jiangling Automobile established a brand-new Jiangling holding Co., Ltd., and Jiangling Lufeng Automobile Co., Ltd. has since been included in Changan Automobile and Jiangling Automobile.

Aichi Automobile, the acquirer, is a new car-building force that has sprung up in recent years, behind which are Tencent Capital, Harmony Automobile, Shagang Group and other capitals. Although Aichi Yiwei has strong capital, it has been plagued by production qualifications. At the beginning of its establishment, the company attracted many senior officials of traditional automobile companies, including Fu Qiang, former President and CEO of Volvo Automobile (China) sales Co., Ltd., former CFO Gu Feng of SAIC Group, former Vice President of Changan PSA, Xu Jun of Evaluation driving Technology, Vice President of original Baoneng Automobile, Cai Jianjun, Senior Vice President and General Manager of Guanzhi Automobile sales Company, etc.

The first production car Aichi U5 has been officially released in November last year, with a maximum comprehensive range of more than 460km, and the AI energy package can increase the range of 100km. It is scheduled to be listed in the second half of this year, and Aichi will also be qualified to build a car after the successful acquisition of Lufeng.

So far, the NDRC has issued 18 production qualifications for pure electric vehicles, but there are still nearly 200 enterprises waiting in line for approval. Most of these enterprises waiting to obtain the "birth permit" of pure electric passenger cars are made by new forces. Now the policy has strict restrictions on the qualification of fuel vehicles, and the qualification of new energy vehicles has also stopped examination and approval. Acquiring car-building qualifications from traditional car companies has become a way for new car-building forces to launch products, and it is also a way to seek contract manufacturing through cooperation, such as the cooperation between Lulai Automobile and Jianghuai.

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