Yaxing Reorganizes Winterthur Automotive Weichai Power Plus New Energy Bus

With the increase in the promotion of policies for new energy vehicles and the opening of the door for consumption, the layout of Weichai Power in the area of ​​new energy buses has also begun to accelerate.

On the morning of the 9th, Yangzhou Yaxing Bus Co., Ltd., a subsidiary of Weichai Power, held its first extraordinary general meeting of shareholders in 2013, which examined and approved the proposal of investing in the holding of Xiamen Fengtai International New Energy Automobile Co., Ltd. and related transactions - through equity changes. With the capital increase method, a total of 51.253% of Fengtai Automobile was restructured after the reorganization.

It is understood that Asian Star Bus Holding Fengtai Automobile intends to horizontally expand the entire vehicle segment and the longitudinal extension of the bus industry chain, creating a new energy bus base and passenger car export manufacturing and marketing base.

As the 10th Global New Energy Vehicle Conference was held at the Boao Forum for Asia Hotel, the reporter noted that in the A-share market, the concept of new energy vehicles has strengthened, especially the passenger car segment.

Establish a new platform for the new base

"When the economy slows down, despite the decline in corporate profits, we cannot stop investing. Not only can we not stop, we must increase investment, but the way to increase investment must shift from investment in scale and production capacity to the establishment of a new industry platform." In an interview with the media, Tan Xuguang, chairman of Weichai Power, stated that the focus of Weichai's investment in 2012 is on the establishment of new product platforms. These products will become new growth points for Weichai after five years, such as offshore engines and large passenger cars. Faraday Yachts and so on.

Under the guidance of risk-seeking opportunities and future-oriented investment ideas, Tan Xuguang has frequently sought opportunities across the globe.

Last October 28-30, Tan Xuguang made a special trip to Fujian for market research. He examined the development of Linde (China) Forklift Co., Ltd., Winterthur Automotive and the yacht industry in Xiamen. At Fengtai Automobile, Tan Xuguang visited the production workshop and listened to the person in charge of the company to introduce the production, technology, and market conditions of the new energy vehicle. He also boarded a pure electric bus to learn about the internal conditions of the vehicle.

It is understood that Fengtai Automobile, which has just been established for two years, is a Sino-foreign joint venture new energy bus exporter. It has introduced foreign advanced new energy vehicle manufacturing technologies, including lithium-ion battery and control system production technologies, in the core technologies of new energy vehicles. With independent intellectual property rights, the products are 100% exported to Europe, America, Australia and other developed countries and regions.

Tan Xuguang's inspection opened the door to Weichai Power's restructuring of Winterthur Automotive. On the evening of December 24 last year, the Yaxing Bus announced that the company intends to reorganize Winterthur with a share change and capital increase of 8.23557 million yuan, and obtain a 51.53% stake in Fengtai Automobile after the reorganization.

According to the announcement, the company's related party, Weichai Power Control Co., Ltd. Shandong Eastern Europe Oil Products Co., Ltd., plans to participate in the reorganization. It plans to invest 249.9998 million yuan and obtain 15.47% equity of Fengtai Automobile after reorganization.

According to the announcement, the original shareholders of Winterthur Automotive were Fengtai (Xiamen) Group Co., Ltd., BUSTIONAL (HK) LIMITED, and Ruike Bus Import & Export Co., Ltd., which accounted for 50%, 40%, and 10% respectively. After the restructuring was completed, the proportion of the original shareholders’ share was reduced to 17.35%, 13.18%, and 2.47%, respectively.

The announcement said that after the completion of the investment, Winterthur will be positioned as the company's new energy bus base and passenger car export manufacturing and marketing base, which will help improve the company's sustainable operation ability and profitability in the long run.

In fact, Weichai Power, which foresaw the development trend of the automotive industry, has long begun to build a new energy vehicle segment. In September 2011, Weichai Power officially entered the Yaxing Bus.

“We must formulate and improve the strategy of Yangzhou's plate around Weichai's overall strategy, and achieve higher goals.” For the development direction of Yaxing Bus, Tan Xuguang made a clear request to focus on new energy buses and make it bigger and stronger. The Yaxing Bus brand entered the top three in the industry.

At the International Road Transport Exhibition held in Beijing in May 2012, the new energy "WN20" powertrain jointly developed by Weichai Power and Yaxing Bus and a variety of new energy buses were unveiled. It is understood that up to now, Yaxing new energy buses, especially large-scale urban buses, have won bids in government procurement in many places, and their market share has increased rapidly.

The successful reorganization of Winterthur Automotive, in Tan Xuguang's view, is focused on the future development of new energy power business needs, Weichai Power will continue to build high-end passenger car development platform. Winterthur Automotive can also rely on the strong industrial resources and strategic synergies of Shandong Heavy Industry and Weichai Power to substantially increase its own sustainable operations and profitability, and achieve faster and better development.

In fact, not just Weichai Power, many auto giants at home and abroad have also turned their attention to new energy vehicles. The release of the "Energy-saving and new-energy automotive industry development plan" in July last year clarified the development road map of China's new energy vehicles. Beijing, Shanghai, and Guangzhou began to encourage sales of new energy vehicles through financial subsidies, which further stimulated automobile production. The enthusiasm of manufacturers.

From January 10th to January 14th, "2012 Global New Energy Vehicle Conference" was held in Boao, Hainan. According to the schedule of the meeting, the conference will promote the establishment of the International Energy Innovation Alliance for New Energy Vehicles and propose industry strategies and proposals for the next three years. The industry believes that this will inject new momentum into the consumption of new energy vehicles. However, considering that electric vehicles and hybrid vehicles are affected by many factors such as cost and supporting facilities, the main demand for energy vehicles will still come from the public transportation sector. Therefore, in the short term, the focus of new energy vehicles is still on the passenger car side.