AutoBeta(AutoBeta.net)08/25 Report--

According to relevant media reports, Volkswagen is said to be exploring the purchase of shares in Chinese auto suppliers and is in talks with Chinese auto suppliers on cooperation. Potential target is Guoxuan Hi-Tech Power Energy Co., Ltd.

Volkswagen plans to invest in Chinese power battery suppliers, especially those with electric vehicle technology, and is examining a number of potential companies, according to people familiar with the matter. it may include Guoxuan High-tech Co., Ltd., a battery maker based in Anhui Province in China.

However, Volkswagen has not made a final decision and is not sure that a deal will eventually be struck. Volkswagen did not confirm foreign media reports, but said in a statement that it was discussing possible cooperation with a number of local suppliers. The source spoke on condition of anonymity because of the confidentiality of the news.

Analysts say power battery technology is crucial to Volkswagen. Especially in the context of Volkswagen's efforts to promote electric vehicles in the Chinese auto market. Volkswagen's current power battery supplier in China is Ningde era.

After the news, the shares of Guoxuan Hi-Tech Co., Ltd. rose 6% in Shenzhen, more than double that of the same period last year. The company has a market capitalization of about $2.1 billion. Volkswagen shares rose 0.4% on the Frankfurt stock market.

At present, Volkswagen Group is making every effort to lay out the field of electric vehicles. In February 2019, Volkswagen Group changed its management responsibilities, and CEO Dis will be directly in charge of electric strategy; in March 2019, Volkswagen Group opened its electrified platform to the public; in the same month, Volkswagen Group released its latest plan to launch more than 70 pure electric vehicles within 10 years.

During the Shanghai auto show, Volkswagen CEO Herbert Dis said that Volkswagen plans to launch more than 30 new energy vehicles in the Chinese market by 2020 and achieve local production of more than 40 models by 2025. It was announced in August that Volkswagen's pure electric vehicles will account for 50% of China's new car sales by 2025.

In addition, a few days ago, there were media reports that Volkswagen Group CEO Herbert Dis was interested in buying Tesla's shares, and quoted a senior Volkswagen manager as saying, "if possible, Disi will take immediate action." According to the report, Deiss meets regularly with Tesla's CEO Musk, but Musk is currently not interested in cooperation.

On Aug. 22, Volkswagen Group issued a statement denying rumors that it had been interested in buying a stake in Tesla. Volkswagen Group spokesman Pietro Zollino said in a statement, "the speculation about Volkswagen Group's acquisition of Tesla's stake is groundless."

It is understood that the July sales data released by the German Volkswagen Group on the 16th of this month showed that the global car delivery volume of Volkswagen Group fell in July compared with the same period last year, while China, Volkswagen's most important single market, bucked the trend. In July, Volkswagen delivered 886000 vehicles, down 2.4 per cent from a year earlier, while the Chinese market delivered 313000 vehicles, up 1.3 per cent from a year earlier. From January to July this year, Volkswagen Group delivered about 6.252 million cars worldwide, with China accounting for more than 1/3, or about 2.23 million, of the market.

In the face of the advent of the trend of new energy vehicles, Volkswagen Group not only frequently expressed its position, but also laid out the core components such as batteries. In addition to procurement, Volkswagen Group prefers to invest in its own battery production plans rather than relying on battery suppliers for a long time. Therefore, the investment plan can help Volkswagen localize production to play a central role.

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