BAIC to be China Car Rental’s Largest Shareholder as SAIC Motor Quits

SAIC Motor said today that it will not be buying a controlling stake in China Auto Rental due to newly emerged circumstances.

“What we focus is not only acquiring the firm but also its operations after the acquisition is completed. We terminated the transaction in time to protect our shareholder’s interest，” said Chen Hong, chairman of SAIC Motor in a shareholder’s meeting today.

A few hours later, the parent firm of China Auto Rental said it is to sell no more than 443 million shares worth HKD1.37 billion to a unit of BAIC. The Beijing-based car-maker is expected to hold 20.87 percent of the car rental firm after the acquisition is completed.

For automakers, having a ride-hailing or rental platform on the side is becoming an important driver of sales, said Zeng Zhiling, general manager of LMC Automotive Consulting.

China Car Rental’s revenue was CNY1.325 million in the first quarter, a decrease of 28.3 percent, and its net losses amounted to CNY188 million due to the Covid-19 outbreak. However, this car rental firm had revenue of CNY7.69 billion with a fleet of 148,894 cars scattered in over 1000 branches all over China.

The Shanghai-based SAIC Motor had said on July 2 that its unit would pay up to HKD1.9 billion (USD245 million) for no more than 613 million CAR shares. It was planning to purchase a 29 percent stake in China Auto Rental.

BAIC Group penned an agreement on June 1 to purchase a 21.3 percent of the vehicle rental company's shares, which would also result in a controlling stake.

The vehicle rental company's equity price has plummeted this year amid the accounting scandal of Luckin Coffee, whose former chairman Charles Lu used to chair CAR too.

Comments

2024首届中国（重庆）智能汽车基础软件生态大会暨第三届中国汽车芯片高峰论坛成功举办

6月17—18日，2024首届中国（重庆）智能汽车基础软件生态大会暨第三届中国汽车芯片高峰论坛在重庆隆重举行。 “基础共筑开源启航” 本次活动由中国汽车工业协会、重庆市经济和信息化委员会主办，中国电子科技集团有限公司联合主办，普华基础软件股份有限公司、中国电科芯片技术研究院、西部科学城智能网联汽车创新中心协办，西部科学城重庆高新区管委会承办。大会以“基础共筑开源启航”为主题，聚集了来自政、产、学、研、用等领域的500多位专家、学者和企业代表，共同围绕车载操作系统、汽车芯片、软硬协同、开源开放等行业热点、重点话题展开深入讨论。会上，重庆市政府有关领导，国务院国资委副主任苟坪，工业和信息化部信息技术发展司司长王彦青，中国电科集团董事长王海波、中国汽车工业协会常务副会长兼秘书长付炳锋分别致辞。中国工程院院士倪光南围绕“开源RISC-V促进新质生产力发展”发表主题演讲。战略合作+创新平台+开源项目+开源大赛，奏响开源开放发展序曲会上，重庆市人民政府与中国电子科技集团双方签署战略合作框架协议，达成深度合作共识。双方将实施高水平合作共建议事机制，以科技创新为源动力，围绕打造国家西南区域集成电路、智能网联汽车、新一代移动通信等产业集群，进行顶层设计、顶格推进，推动双方合作向更宽领域更深层次更高水平迈进。会上还启动了普华基础软件（重庆）有限公司、普华车控软硬件协同设计中心、普华车控操作系统和芯片适配中心落地重庆仪式，这三家机构落地，将为汽车芯片、软件更好地协同整车厂构建开发应用生态，应对降本、提速、增效挑战迈出实质性的一步。此外，开放原子开源基金会、中国汽车工业协会、普华基础软件联合中国一汽、东风汽车、长安汽车等10余家整车及芯片企业启动开源共建仪式，共同点亮“中国车用操作系统开源共建计划”，宣布EasyAda“龘”微内核项目通过开放原子开源基金会TOC评审，成为基金会孵化筹备期项目，同时宣布启动“小满”安全车控操作系统项目。这是继2023年5月EasyAda“龘”微内核开源项目发布后，国内首个规模化、量产级的开源安全车控操作系统。活动现场，开放原子开源基金会和重庆市经济和信息化委员会共同宣布第二届开放原子开源大赛—汽车软件开源大赛正式启动。业界凝心聚力、分享畅言、增进共识，敲响产业高质量发展鼓点来自重庆长安汽车、普华基础软件、北斗智联科技有...

【独家披露】一场闭门会，中国提到更多对欧反制措施

欧委会拟对华电动汽车加征关税的做法，正在受到越来越多人的反对。据玉渊潭天，6月18日，中欧新能源车企在商务部一起开了个闭门会。会上，有四家中国车企，也有六家欧洲车企，还有相关商协会、研究机构等。会上，中欧车企都反对欧盟对华加征关税的做法。据了解，有中国企业请求中国政府对欧方采取最严厉措施。建议在世贸组织规则允许范围内，针对自欧进口的大排量汽油车实施更高的暂定关税，进口关税最高可提升到25%，这也符合绿色低碳发展目标。在这场会上，中国车企也透露了更多欧盟滥用调查权肆意扩大调查范围，甚至窥探中国新能源汽车技术的内幕。玉渊潭天在之前的文章中提到，中国企业反映欧方在反补贴调查中，要求他们提供电池的配方。事实上，这只是欧委会在这次调查中提出的众多不合理要求中的一个。在听完中国车企的遭遇后，玉渊潭天认为，欧委会的行径，就是在假借调查之名，行窥探中国技术内幕之实。首先是，欧委会要求中国企业提供电池配方等核心秘密。玉渊潭天了解到，欧委会要求中国企业详细提供电池原材料的构成，包括化学成分和配方，甚至精确到磷酸亚铁锂、石墨、铜、铝等每项主要原材料使用量。不仅如此，欧委会还要求中国企业提供这些原材料的供应商以及采购信息。电池信息被视为电动汽车行业的“命门”。这些信息的泄露，不仅会严重威胁企业的技术安全，还会影响中国相关产业的安全。除了技术相关数据，欧委会还要求中国企业提供核心商业秘密。这些信息包括：｜｜企业的五年产能、产量和所有的固定资产清单；｜｜企业未来在中国、欧盟或第三国新增产能的计划；｜｜企业所有零部件和原材料投入、能源电力、人工费用、设备折旧信息；｜｜企业的销售模式、销售条款、定价策略；｜｜甚至连企业在欧盟所有客户的姓名和联系方式这些信息，欧委会都想要。提供完这些还不够，欧委会还要求中国企业提供核心运营秘密。这些信息，又包括股东会、董事会、监事会纪要和合资协议，包括企业的信贷额度、贷款、债券、出口信贷、银行承兑汇票等信息。与其说这是反补贴调查，倒不如说这是对中国新能源车企核心竞争力的一次“大摸底”。在会上，就有中国企业反问道，“在座的有很多欧洲品牌企业，如果你们被中国政府以某种形式要求提供这样的信息，你们会怎么做？” 己所不欲，勿施于人。中国车企的这个问题，欧委会也要将心比心，问问自己。其次是，除了车企本身的信息，欧委会还想要整个中国新...

China's Evergrande Health to Alter Its Name as Focus Shifts to NEV Sector

Chinese healthcare service firm Evergrande Health Industry Group is proposing to change its name to China Evergrande New Energy Vehicle Group as it sees its main line of business shifting to the electric vehicle sector, according to a filing with the Hong Kong Stock Exchange today. The company, which is a unit of one of China’s largest property developers Evergrande Group, is developing its NEV business at full throttle and aims to become the world’s largest and most powerful green energy car company within the next three to five years, the Guangzhou-based firm said. The proposal still needs to be approved by shareholders and the Registrar of Companies in the Hong Kong, it added. Evergrande Health’s heavy investment in its NEV business, which is still in the development stage, led to losses of CNY4.95 billion (USD707 million) last year on revenue of CNY5.64 billion. Fixed assets and equipment still need to be purchased and research and development costs remain high, it said in an...

Motors Tracker

Search This Blog