As China's auto industry continues to grow, the auto parts industry continues to progress. However, in some key component areas with high technical content, such as EMS engine control systems, airbags, ABS systems and other systems and components, the competitiveness of local parts companies is still not strong.
If there is no strong strength in the supply of parts and components, the scale of the automobile industry will be large and will not form a sustained growth. How to change the status quo of China's parts industry, many companies are actively exploring.
Recently, the largest overseas acquisition in China's auto parts industry has been successfully completed. China Aviation Industry Holdings Co., Ltd. and Beijing Yizhuang International Investment Development Co., Ltd. jointly acquired 100% equity of Nexteer Automotive Systems Co., Ltd., a wholly-owned subsidiary of General Motors Corporation, with an acquisition amount of more than US$400 million.
Lin Zuoming, general manager of China Aviation Industry Corporation, said that based on the current development of the domestic auto parts industry, AVIC put forward the strategic concept of “rebounding çµç¶â€ and promote the development of China's auto parts industry by acquiring overseas high-end parts and components enterprises. .
Nexteer is a multinational company with more than 100 years of history, with 20 plants, 3 R&D centers, 2 test sites and 11 technical and customer service centers in 7 countries around the world; products include steering systems and transmission systems, among which Steering system sales ranked fourth in the world, transmission system sales revenue ranked third in the world; with 1,200 patents, intellectual property rights, etc., has the world's leading core technology in electric steering systems (EPS).
According to industry experts, the acquisition marks that China's auto parts companies have internationally leading core technologies, products, quality customers, mature talents and management teams in key component systems. In addition, it will help Chinese companies quickly integrate into the mainstream of the international auto parts industry and participate in global competition as a multinational company.
Zhao Guibin, chairman of China Aviation Industry Corporation, said that AVIC is a wholly-owned subsidiary of AVIC, a platform for the development of AV components and automotive extension industry, and has defined steering systems and transmission systems, automotive electronics. Automotive accessories and high value-added components are the focus of recent development, and strive to challenge sales revenue of 100 billion yuan by 2020, making the company a leading domestic and world-renowned auto parts supplier. “This acquisition has laid a solid foundation for AVIC Automotive to become China's leading and world-renowned component supplier.â€
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