News Digest
Red List
1. Audi, FAW and SAIC complete their three-way ****-win model
2. SAIC's premium brand company, ZhiJi Automobile, is formally established
3. Red Flag's sales soar, completing its 200,000-vehicle yearly target
4. Vuonen and Geely set up a joint venture to produce power elec?
Black list
1.Japan intends to ban the sale of gasoline cars, its domestic giants quarrel
2.Zotye Automobile's parent company, Tieh Niu Group, formally went bankrupt
3.Toyota and Chang'an Ford were named in a typical case of anti-monopoly law enforcement
4.Honda's large-scale recall involving a million domestic cars
Red list
1. Audi, FAW, SAIC three-way ****-win model completed
On December 23, the SAIC Audi project marked an important milestone. SAIC, Audi, and China FAW*** announced that they have reached a ****knowledge on future sales and service cooperation: in the future, SAIC Audi products will be laid out through the existing Audi investor network for sales and service related business.
From Audi's point of view, how to balance the interests of joint venture partners is obviously crucial. Therefore, the **** understanding reached this time, is to once again determine the tone set by the "four-party agreement".
Shanghai Automobile Works (SAIC), FAW and Audi are now able to join together, and their future strength should not be underestimated.
2. SAIC's high-end brand company Zhiji Automobile was officially established
Shanghai Automobile Group's high-end smart car brand has made new progress! According to the eye of the sky check information, Zhi Ji Auto Technology Co., Ltd. was formally registered on December 25, 2020, with a registered capital of 10 billion yuan. The scope of business includes the research, development, manufacture and sale of new energy vehicles, auto parts and accessories, new energy vehicle power exchange facilities, intelligent power transmission, distribution and control equipment, distributed AC charging piles and so on.
At the same time, the board of directors was also announced, SAIC president Wang Xiaoqiu as chairman, SAIC vice president and chief engineer Zu Xiujie, SAIC vice president and general manager of passenger car company Yang Xiaodong, Zhang Jiang Hi-Tech chairman Liu Cherry, Ali Dharma Institute president Zhang Jianfeng as director, SAIC vice president and acting chief financial officer Wei Yong as supervisor.
3. Red Flag sees sales surge, meets 200,000-unit annual target
Faw Hongqi, the independent premium brand, has for the first time sold more than 200,000 units annually, making it the sixth premium brand in China to break the 200,000-unit mark in annual sales.
On December 25, FAW Group released a news release that the Red Flag brand reached its annual sales target of 200,000 units a week ahead of schedule, with a year-on-year growth of 100%. So far, the red flag brand in 2020 production and sales of 200,000 units.
In the latest ranking of luxury brands, Red Flag has squeezed out Volvo, becoming the "new top three" second-tier luxury brands.
4. Vonen and Geely set up a joint venture to produce electric power
A few days ago, Vu Energy Technology (Ganzhou) Co., Ltd. and Geely Technology Group Co., Ltd. signed a strategic cooperation agreement, the two sides will *** with the establishment of a joint venture, with the help of the two sides of their respective brands, technology, channels and other aspects of the advantages of the power battery industry to carry out cooperation, the construction of the power battery production plant, *** with the promotion of the development of the new energy industry.
According to the agreement, the two sides *** together to promote the construction of power battery production capacity, it is expected that the combined production capacity of Vonergy and the joint venture company will reach 120GWh, of which no less than 20GWh will be started in 2021.With regard to the business arrangements of the joint venture company, technology, research and development, and sales by Vonergy is responsible for the funds by the joint venture company market-oriented financing, Geely Technology is responsible for assist in raising funds.
It is said that the equity ratio and governance structure of the joint venture company will be determined according to the actual situation of the specific project.
Blacklist
1. Japan intends to ban the sale of gasoline cars, its domestic giants quarrel
As a traditional auto manufacturing country, Japan has serious differences of opinion on the future long-term development direction of the auto industry. Auto giants led by Toyota and Honda are strongly opposed to a rapid shift to electric vehicles, while Nissan and other car companies are actively responding to the changing times and pushing ahead with electric vehicle projects. The Japanese government also intends to follow the international trend of catching up with other countries, especially Europe, in the development of electric vehicles, and the authorities intend to ban the sale of fuel cars in a decade.
However, the Japanese government has so far not formally announced plans to ban the sale of fuel vehicles due to fierce opposition from the auto industry as a whole.
Akio Toyoda said, "In a country like Japan, which relies mainly on fuel and natural gas to generate electricity, electric cars don't help the environment, and the more electric cars that are produced, the worse the carbon dioxide emissions will be." He added that if all cars were powered by electricity, Japan would run out of power by next summer.
2. Zhongtai Auto's parent company, Tieh Niu Group, is officially bankrupt
On Dec. 24, Zhongtai announced that the company had recently received a Civil Ruling issued by the Yongkang Court, and that its parent company (the real controller), Tieh Niu Group, was in a state of bankruptcy due to severe insolvency and lack of the ability to continue its operations, and lacked the possibility of salvaging the company. The court ruled as follows:
(1) Terminate the reorganization procedure of Tieh Niu Group Co.
(2) Declare the bankruptcy of Tieh Niu Group Co.
While whether Tieh Niu Group is liquidated or not, the days of Zotye Automobile are not easy. But once Tieh Niu Group is liquidated in bankruptcy, it may accelerate the decline of Zotye Automobile.
3. Toyota, Chang'an Ford named on the list of typical cases of anti-monopoly enforcement
On December 25, the State Administration for Market Supervision and Administration released the previous year's top 10 typical cases of anti-monopoly enforcement, in which Toyota and Chang'an Ford were on the list.
In June 2019, the General Administration of Market Supervision (GAMS) ordered Changan Ford Automobile Co. to stop its illegal behavior and imposed a fine of 162.8 million yuan in accordance with the law. For Changan Ford Automobile Co. violated the Anti-Monopoly Law by limiting the minimum resale price of whole vehicles to dealers.
In December 2019, the Jiangsu Province Antimonopoly Enforcement Agency ordered Toyota Motor (China) Investment Co. to stop the illegal behavior and imposed a fine of 876,130,059.48 yuan in accordance with the law. Because Toyota Motor (China) Investment Co. violated the Anti-Monopoly Law by unifying the dealer network offer and limiting the minimum price of goods resold by dealers.
The State Administration for Market Supervision and Regulation (SAMSAR) pointed out that it continuously strengthens anti-monopoly law enforcement, protects fair competition in the market, and safeguards the interests of consumers.
4. Honda launches massive recall involving a million domestic cars
Honda has again launched a massive recall due to a defective fuel pump.
According to the latest release on the official website of the State Administration for Market Supervision, Guangzhou Honda Automobile Co. and Dongfeng Honda Automobile Co. have filed a recall plan with the General Administration, deciding to recall as many as 20 domestically produced vehicles since March 31, 2021, covering almost the entire series of mainstream models of Honda and Acura brands, the recall involved 1,088,000 vehicles ****.
The reason for the recall is due to imperfect resin molding conditions during the manufacturing process of the fuel pump impeller, resulting in insufficient impeller resin density. The impeller may be affected by the fuel and expanding deformation, and interference with the fuel pump shell, resulting in poor fuel pump work, can not give the engine normal fuel supply, extreme conditions may occur in the vehicle driving engine stalling situation, there are potential safety hazards.
This article was written by the author of Automotive Home, and does not represent the viewpoint of Automotive Home.