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As Daimler Motors has taken over the Fujian Automobile Group, its joint venture layout in China has been quietly shaped: North is relying on BAIC Holdings and Nanfang is the Fujian Automobile Group. Yesterday, at the foundation laying ceremony of the Daimler Automotive Industry Co., Ltd. in Fujian, Shanghai Securities News learned that Fujian Daimler Automotive Industry Co., Ltd. will become the largest commercial vehicle base for Daimler outside Europe. This is the first new factory Daimler has established in China after the demerger between Daimler and Chrysler. If Daimler's smooth participation in Beiqi Foton, its Chinese chess board will basically close.
Daimler’s high-level auto manufacturers made appearances at the production base of Fuzhou’s Qingkou. Daimler’s chairman and CEO and Caice, president of the Mercedes Group, made a special trip from Germany to Fuzhou.
Fuqi Daimler Automotive Industry Co., Ltd. has a registered capital of 160 million euros; total investment is 208 million euros. Participation by the three parties, two shareholders a total of - Fujian Auto Group, Daimler light auto (Hong Kong) Co., Ltd. each holding 50%. Daimler Light Vehicles (Hong Kong) Co., Ltd. is composed of China Motor Bus Co., Ltd. and Daimler Automotive.
It is reported that in December 2008, the Daimler-Benz project in Fujian will be initially completed, including plant construction projects and equipment installation; in mid-2009, the first Mercedes-Benz light vehicle produced in China will be driven off the production line of the joint venture plant. Jarno.
"In the automotive industry, such economic investment (208 million euros, 60,000 total production capacity) is rare. More than 200 million euros, including equipment investment, technology investment, land investment, and plant construction." Fujian Ling Yuzhang, Chairman of the Automotive Group, told Shanghai Securities News: “We have fully considered the future development space and the strength of the company itself. In accordance with the principle of overall planning, implementation by phases, and rolling development, we plan to have a production capacity of 40,000 units in Phase I. An annual output of 60,000 vehicles."
Cai Che pointed out that according to the joint venture agreement between the two parties, three high-end light passenger vehicles under Vito, Viano Viano, and Sprinter Sprinter will be mass-produced in joint venture factories. The first production will be Viano.
While Daimler Motors designated Fuzhou as a commercial vehicle development site, it did not give up its alliance with Beiqi Foton. At the end of 2006, Beiqi Foton issued an announcement saying that it plans to issue 297 million shares to Daimler Chrysler at a price of RMB 2.75 per share, which represents 24% of the enlarged share capital.
When Shanghai Securities reported to Zechu, with the continuous rise of Beiqi Foton's stock price, Daimler's plan to participate in Beiqi Foton may be hindered and it will change the plan. Cai Che said, "We still hope to buy some shares in Beiqi Foton, but this will require the approval of the relevant Chinese authorities. At present, plans have not yet been made to change the shareholding plan, and it may be necessary to discuss before deciding."
The reporter also learned from the Fujian Automobile Group that Daimler’s original withdrawal from cooperation with Yangzhou Auto was to free up one seat to take advantage of Beiqi Futian. Because according to China's auto industry policy, foreign auto companies can only hold two Chinese companies in the commercial vehicle and passenger vehicle fields. Daimler currently has a joint venture partner in commercial vehicles, leaving only the Fujian Automobile Group.
Unlike Fujian Automobile Group, Beiqi Foton has an advantage in the light vehicle market. Beiqi Foton, which started with agricultural vehicles, has a larger share of China's light vehicle market. In addition, Beiqi Foton's light vehicle products are relatively cheap, Daimler's light vehicles are taking high-end, so if the price of Beiqi Foton plus part of the Daimler car technology, it may attack some developing countries overseas Market, which will benefit Daimler cars.
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