The Chinese auto companies represented by the above steam, FAW, and Dongfeng are competing with transnational automobile giants with unprecedented boldness and determination. This strong initiative and national spirit have enabled people to see the enormous potential contained in the national industry. While welcoming the "Daqing of the 60th Anniversary of the founding of the PRC," this newspaper selected several representative companies to interpret it so that readers can better understand the efforts and achievements made by the Chinese auto industry.

At the time of the 60th founding of the People's Republic of China, the Chinese automobile industry has come to the forefront of internationalization. Not only have foreign car companies started to shift their strategic focus on production, R&D and marketing in the Chinese market, Chinese domestic car manufacturers have also begun to form a collective attack and become a brighter landscape under the financial crisis.

Foreign capital frequently shares in private car dealers

On September 23, Geely, listed in Hong Kong, issued an announcement stating that Geely has entered into a share transfer agreement with Goldman Sachs in conjunction with GS Capital Partners VI Fund. Goldman Sachs will hold approximately 17.8% of the enlarged share capital, Li Shufu's shareholding will be diluted from 51.54% to 43.75%, and the net proceeds raised will be HK$2.586 billion. It is intended to be used for capital expenditures, potential acquisitions, and general corporate purposes.

Some analysts commented that Goldman's financial intervention will greatly help Geely Automobile's business development in the global market, and Geely Automobile's parent company's participation in the acquisition of Volvo’s shares will also enable this private automobile manufacturer to gain rapid recognition in the international market. . At the same time, the private auto companies that were originally in the low-end consumer market in China were highly concerned by foreign capital, which further demonstrated that the domestic auto market is still very room for development.

Finally, two CEOs of private companies that have a lot of drama in the Chinese auto industry have one more thing in common. After BYD President Wang Chuanfu benefited from the increase in the popularity of Buffett’s shares, Goldman Sachs’ plan to acquire 12% of Geely’s shares also made it possible for Geely’s Chairman Li Shufu’s original “ambition” to appear unrealistic.

This Goldman Sachs purchases Geely Automobile shares to attract foreign investment into the Chinese auto market. In September 2008, Buffett spent HK$1.8 billion to subscribe for 225 million BYD shares at a price of HK$8 per share, which accounted for about 10% of BYD shares. The transaction was formally approved by the China Securities Regulatory Commission in July this year. A year later, based on the stock price of BYD, Buffett’s stocks held more than HK$9.1 billion in book profits, an increase of more than 500%, which is eye-catching in the depressed global financial market.

China becomes a global center of gravity for multinational giants

According to the statistics released by the China Association of Automobile Manufacturers on September 9, the domestic automobile sales in August was 1,135,500 units, an increase of 81.68% year-on-year. Compared with the sales volume of 1,265,100 new vehicle markets in the United States, China’s status as the world’s largest auto consumption market in early 2009 was slippery. To the second.

In spite of this, China's auto consumption market has already reached a considerable scale, and international automobile brands including GM and Volkswagen have increased their investment in technology, products and capital in the Chinese market.

After cancelling the regional business operation structure, New GM set up the General Motors International Operations Department in Shanghai, which makes the new General Motors Corporation, which owns 60.8% of the U.S. Treasury Department, already consider China as the only opportunity. On September 24, GM’s China Academy of Sciences announced its formal establishment in Shanghai and will become the second largest research center outside of General Motors’ Detroit R&D center. In the general global R&D system, it will mainly assume experimental functions. This also shows that following the establishment of the international operations headquarters in Shanghai, other substantive measures are being implemented.

On September 11, Volkswagen Group announced the newly established goal. In order to maintain the continuous growth of its business in China in the next few years, from 2009 to 2011, Volkswagen Group will invest EUR 4 billion in China to put into production new models and Expand production capacity. According to Volkswagen China, 4 billion euros of investment will come from the cash flow of Volkswagen’s joint venture in China. After the expansion, the production capacity of Nanjing and Chengdu plants will increase to 300,000 and 350,000 by 2012 respectively.

In addition to GM, Volkswagen and other brands with a large market share in China, BMW Asia’s largest training center was completed in May in Shanghai. This hugely expensive training center that can provide 20,000 people per year is in the midst of a severe global auto industry recession. The arrival in China indicates that BMW Motors has increased its emphasis on the Chinese market. Renault’s China strategy was officially restarted in April with the announcement of Renault Automotive’s announcement of the establishment of Greater China and the appointment of Mr. Chen Guozhang, general manager of Renault’s imported car division, Nissan (China) Investment Co., Ltd. as its chief executive officer.

Self-owned brand collective leap forward

In the summer of 1953, a foundation stone of white marble engraved with the inscription of Chairman Mao Zedong was erected in the outskirts of Changchun, proclaiming the start of the Chinese auto industry. On July 13, 1956, the first truck with 4 tons of liberation truck type CA10 drove off the Assembly Line, ending the history that China could not manufacture cars. On May 12, 1958, with the birth of the first prototype Dongfeng car produced in China, the Chinese automobile industry entered an era of diversification.

However, in the decades that followed, the Red Flag and Shanghai brand cars, which have countless halos, have never been able to regain their glory in the market. On the contrary, Shanghai Volkswagen, FAW-Volkswagen and Dongfeng Citroen have successively launched joint projects and become the first batch of joint ventures of the Chinese auto industry, and later became the main force in leading the marketization process of Chinese passenger vehicles.

Chery has become an unavoidable company in the history of the Chinese automobile industry. Although Chery’s early models had a certain degree of imitation. However, the independent brands represented by Chery, BYD, and Geely Automotive have brought a real revolution to the Chinese auto market with accurate pricing strategies, enabling the auto industry to truly enter the mass market.

After the automobile joint ventures have become the mainstream in the domestic auto market, in the increasingly internationalized domestic auto market, the joint venture's own brand road has already become the focus of the top leaders of major auto groups.

At present, SAIC, FAW, Dongfeng, Chang'an, BAIC, GAC and other major domestic automobile enterprise groups have made achievements in their own brand projects. At the time of the 60th anniversary of the founding of the People's Republic of China, the Chinese auto industry has completed everything from scratch, from small to large, and is moving toward higher goals.

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