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On June 24, according to the latest declaration catalogue of the Ministry of Industry and Information Technology, domestic Kia marked the end of the updated models as "Yueda Kia", which also means that "Dongfeng Yueda Kia" will become a thing of the past. At present, domestic Kia's models for sale include KX5, Zhirun, K3, K5, Huanchi and Jia.
Win-win cooperation? No, no! On December 17, Dongfeng Motor, which has been together for 19 years, and Dongfeng Yueda Kia announced their separate ways. Dongfeng Group, which has a 25 per cent stake, has officially withdrawn from Dongfeng Yueda, and the 25 per cent equity transfer project of Dongfeng Yueda Kia has been delisted at a transfer price of 297 million yuan, according to a notice from the Shanghai United property Exchange. At present, the withdrawal of Dongfeng Motor also means that Dongfeng Yueda Kia will change from the original three-way joint venture to Yueda and Kia. According to Dongfeng Yueda Kia, after Dongfeng Group withdrew from Dongfeng Yueda Kia, the company's future shares are still under negotiation with Yueda.
According to Tianyan investigation, Dongfeng Yueda Kia Automobile Co., Ltd. (hereinafter referred to as "Dongfeng Yueda Kia"), one of the Korean car companies, has officially changed its name to "Kia Automobile Co., Ltd." and the approval date is March 22, 2022. Zhang Naiwen, the legal representative, and Yancheng Market Supervision Administration, the registration authority. In response to the name change, the person in charge of Kia Automobile said: "the company name is not important, the key is the company strategy." The official also said that for Yueda Group, its main responsibility is to develop the local automobile industry on behalf of the Yancheng municipal government. Making Kia stronger and bigger in China is in line with the development of automobile industry in Jiangsu Province and Yancheng City.
Kia's sales in China continue to be low, and the joint venture has fallen into the plight of insolvency. In the financial information of joint ventures and associated enterprises in the year ended December 31, Jiangsu Yueda Kia Automobile Co., Ltd., a joint venture in China, has a total debt of 247%, according to the 2022 financial report released by Kia Company of South Korea.
According to media reports, Kia revealed that the name of the new company under the new share ratio structure will be announced at the Beijing Auto Show to be held in April 2022. As for the name of the new joint venture, the industry speculated that it might change its name to "Yueda Kia" or "Kia China", but none of them could be confirmed. In the past 2021, Kia has undergone major changes at home. On November 19, 2021, Dongfeng Automobile Group Co., Ltd. publicly listed its 25% stake in Dongfeng Yueda Kia Automobile Co., Ltd. through the Shanghai United property Exchange at a listing price of 297 million yuan. On January 12, 2022, Dongfeng Automobile Group Co., Ltd. will.
On the last day of 2019, Dongfeng Yueda Kia officially announced the transfer of four senior executives. At a time of declining performance and poor sales, this is also Dongfeng Yueda Kia's last internal adjustment in 2019. According to Dongfeng Yueda Kia announcement, according to the arrangement of the company's Oriental personnel, Mr. Li Zhijun, deputy general manager and head of management department appointed by Yueda recently, Mr. Jin Xuandui, minister of purchase, appointed by Asia, Mr. Min Jianzai, director of the research institute appointed by Asia, Mr. Ye Lei, deputy head of sales, appointed by Yueda, will no longer hold relevant positions in Dongfeng Yueda Kia Automobile Co., Ltd., and be transferred back to Dongfang. ...
On March 1, Yueda Investment issued a notice on abandoning its participation in capital increase and related party transactions. According to the announcement, Dongfeng Yueda Kia Automobile Co., Ltd. (hereinafter referred to as "DYK"), which has a 25% stake, plans to increase its capital by 600 million US dollars, but due to the company's investment needs for new projects, it intends to give up its participation in the capital increase of DYK, which is partly funded by Jiangsu Yueda Automobile Group Co., Ltd. Yueda Investment said that DYK continued to lose money in 2021, which is expected to affect the company's parent net profit of about-531 million yuan, taking into account the fierce competition in the domestic automobile industry and the company's new project.
According to Caixin, Jiangsu Yueda Kia Co., Ltd. recently issued an internal notice: in order to realize the electrified transformation, the business staff structure needs to be integrated. The company arranges management staff to take turns off in batches, the first batch of which lasts as long as one year, from June 1, 2023 to May 31, 2024. Notice display
According to earlier, due to a decline in sales, Dongfeng Yueda Kia decided to stop production at a factory. Since the beginning of the year, Kia has considered shutting down a factory in China to restructure its business to save itself in response to a sharp drop in sales. Dongfeng Yueda Kia's first factory in Yancheng, Jiangsu Province, will stop production at the end of this month. Dongfeng Yueda Kia responded that it was not closed, but structural adjustment. The factory plans to specialize in the production of new energy vehicles to build green new energy plants in an intelligent manufacturing way. According to an insider of Dongfeng Yueda Kia Automobile Co., Ltd., "A factory has not been closed, but a factory is now rationalized." Based on new energy in Yancheng.
According to China Business report, a person close to Dongfeng Motor Group Co., Ltd. said that Dongfeng Motor will be listed on the property exchange to transfer its 25% stake in Dongfeng Yueda Kia as soon as November. "the negotiations started in the middle of this year, and Kia, Yueda and Dongfeng Motor re-evaluated the cooperation," a person familiar with the matter said. "the Asian side wanted to expand the share ratio, Dongfeng Motor felt that it was not making money, and the three parties quickly reached an agreement." Data show that Dongfeng Yueda Kia Automobile Co., Ltd. was established in 2002, jointly organized by Dongfeng Motor Company, Jiangsu Yueda Investment Co., Ltd., South Korea Kia Automotive Co., Ltd.
With the decline of brand and product competitiveness, Dongfeng Yueda Kia has been marginalized. The recent release of the new K5 Kaiku and the appointment of new marketing executives have brought Dongfeng Yueda Kia back to the attention of consumers. On May 6, Dongfeng Yueda Kia Automobile Co., Ltd. officially announced that Mr. Tang Yuejin will be the deputy minister of sales headquarters from now on, in charge of brand marketing, customer experience, commodity operation and digital marketing business. Tang Yuejin's joining will help Dongfeng Yueda Kia achieve brand upward, enhance customer experience, build an Internet-based customer car lifecycle platform, and help Kaiku launch and optimize the product structure. According to.
On March 12, Hyundai Motor Group (China) issued a personnel announcement. According to the announcement, Li Feng, vice president of Hyundai Motor Group (China) and general manager of Dongfeng Yueda Kia, will no longer hold the post of general manager of Dongfeng Yueda Kia. The position will be replaced by Liu Changyi, while Li Feng will be transferred back to Hyundai Motor Group (China) as vice president, the appointment will take effect from March 15. Li Feng is also a veteran of the automobile industry. Data show that from 1996 to 2004, he served as deputy general manager of BAIC Foton Automobile, general manager of marketing company, etc.; from 2005 to 2008, he served as deputy general manager of Chery Automobile; Li Feng joined in 2009.
A few days ago, the official website of Kia Automobile of South Korea officially disclosed the financial information of joint ventures and associated enterprises in the first quarter of 2023. Jiangsu Yueda Kia Automobile Co., Ltd., a joint venture company in China, has a total debt of 2.4709 trillion won (about 13.613 billion yuan).
On June 17, Dongfeng Yueda Kia, Yueda Group and Chinese Express announced that the first model of Chinese Express will be produced at Dongfeng Kia production base and is expected to be put into mass production in 2021. But before the cooperation, it was reported that the first project of Dongfeng Kia would stop production at the end of this month. In this regard, the relevant person in charge said that the first factory in Ulai will serve as a base for the production of products by Chinese Express, and then the factory will be upgraded to meet the demand for new cars, and the upgrading is expected to be completed in the first half of 2021. The annual sales volume of Dongfeng Yueda Kia has dropped from 600000 to 300000, and its production capacity has been greatly reduced. Excess production must be eliminated.
Speaking of Korean brands, there is still a place in the market. It has been favored by many consumers by virtue of mainstream appearance design and high performance-to-price ratio. However, with the rise of domestic cars in recent years has been a relatively serious impact, sales performance is not particularly good. And as the market goes down, problems that have been masked by fast-growing numbers have erupted. After 2017, the Korean brand market turned sharply and began a long period of transition and decline. However, Kia's performance in the first half of this year was somewhat unexpected. According to June data show, Dongfeng Yueda Kia car terminal sales of 30563,.
today, Dongfeng Yueda Kia issued a clarification announcement on the issue of "middle-level leaders manipulating the year mark" published by the online self-media. According to a statement issued by Dongfeng Yueda Kia, in the early morning of January 16, an article about Dongfeng Yueda Kia brand and related staff was published on a platform by self-media. It also said that there was slander and vilification of Dongfeng Yueda Kia brand and related personnel. However, according to the relevant search, the article has been deleted.
Dongfeng Financial said that after rejecting Dongfeng Yueda Kia's rebate support, it decided to suspend Dongfeng Yueda Kia's retail financial discount business from now on.
According to the latest announcement of the Shanghai United property Exchange, Dongfeng Automobile Group Co., Ltd. listed to transfer 25% of Dongfeng Yueda Kia's stake at a transfer price of 297 million yuan. Data show that Dongfeng Yueda Kia Automobile Co., Ltd. was established on September 12, 1992, jointly established by Dongfeng Automobile Group Co., Ltd., Jiangsu Yueda Investment Co., Ltd., and Kia Co., Ltd. the shares of the three parties are 25%, 25% and 50% respectively, and the operating life is from September 12, 1992 to September 11, 2022. In other words, once Dongfeng Motor successfully transfers its 25% stake in Dongfeng Yueda Kia, then Dongfeng.
Dongfeng Yueda Kia, a joint venture with South Korea's Kia Motor Company in China, is considering shutting down its first factory, Reuters reported recently. Dongfeng Yueda Kia officially responded to the report: it is structural rationalization and there will be no layoffs. Sources have revealed that South Korea's Kia may suspend operations at its first plant in China as part of the company's competitiveness and long-term efforts, Reuters reported on March 11. Subsequently, Kia issued a statement saying that the company is currently reviewing a number of plans to enhance its production and sales competitiveness in the Chinese market. In this regard, Dongfeng Yueda Kia issued about the rationalization and adjustment of the structure of our first factory.
According to the number of new car compulsory insurance purchases, Yueda Kia sold 5699 vehicles in October 2022, down 15.73% from 6763 in September and 57.95% from 13557 in October 2021. In addition, the cumulative sales of Yueda Kia from January to October 2022
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