Morning News (Reporter Yang Hao) Does German Volkswagen really stop transferring Santana's technical platform agreement to Shanghai Volkswagen?
Yesterday, the reporter asked the German Volkswagen China Company for confirmation. The company’s press sources stated that the German public and the Shanghai Volkswagen are in communication and will give a definitive answer to the matter in the near future.
According to the "Financial Times" report, on the eve of the Spring Festival in 2004, the Shanghai Volkswagen Group could suddenly lose at least several hundred million yuan, as the German Volkswagen Group suddenly put forward an agreement to terminate the transfer of a Santana car technology platform. The China-foreign joint venture model that China once boasted is now facing a turning point.
People of the German Volkswagen and Shanghai Volkswagen who understand the project internally said that this project has been brewing for a long time and has been progressing in an orderly manner. According to the plan, the new model designed on this platform is expected to be officially listed in China within three months, that is, in May of this year.
The total volume of transactions for this platform project transfer is huge. SAIC Group has invested a lot of manpower, financial resources and time, and has hired a number of foreign car design and R & D institutions to participate in the late stage R&D and design of the new model. It is estimated that SAIC Motor’s losses may be as high as several hundred million RMB, including the Jiangsu Yizheng Automobile Manufacturing Plant that was acquired last year to prepare for the production of the new model base.
The industry has speculated that the German VW’s profitability in China has declined, and rising costs are the main reason for its change in China’s strategy. The Goldman Sachs report also shows that due to cost problems, public profit in China will continue to decline since 2003. The loss of exchange rate in 2003 due to the poor communication between the two parties was also considered to be a trigger for the strategic adjustment of German Volkswagen China.
In the past cooperation, German Volkswagen has insisted that the key components of the joint venture model must be imported, but in 2003 the euro rose strongly, the German public did not properly negotiate with Chinese partners to adjust the import policy in due course, resulting in unprecedented exchange rate losses. 2 billion euros.
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