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13.8 billion! Major changes in Volkswagen Anhui

2024-05-30 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)05/13 Report--

According to Tianyan check information, on May 12, industrial and commercial changes took place in Volkswagen (Anhui) Co., Ltd. (hereinafter referred to as "Volkswagen Anhui"), and its registered capital increased from about 7.356 billion yuan to about 13.856 billion yuan. According to the latest shareholder information, the company is jointly owned by Volkswagen (China) Investment Co., Ltd. and Anhui Jianghuai Automobile Group Co., Ltd., with a shareholding ratio of 75% and 25%.

Jianghuai Motors announced on March 12 that JAC and Volkswagen China plan to increase their joint venture Volkswagen Anhui by 6.5 billion yuan according to the same share ratio, of which JAC Motors will contribute 1.625 billion yuan in cash and Volkswagen China will contribute 4.875 billion yuan in cash. The period of capital increase is from 2024 to 2025, and the two sides will pay in batches at the same time. After the completion of this capital increase, the registered capital of Volkswagen Anhui will increase from 7.356 billion yuan to 13.856 billion yuan, and the shareholding ratio of JAC Motor and Volkswagen China will remain unchanged.

With the completion of the capital increase between the two sides, the registered capital of Volkswagen Anhui has also increased from 7.356 billion yuan to about 13.856 billion yuan. this is also the second time that Volkswagen Anhui has received a capital increase since its establishment in 2017, and for the first time in 2020, the registered capital has increased from 2 billion yuan to 7.356 billion yuan.

Volkswagen (Anhui) Co., Ltd., located in Hefei, Anhui Province, is a joint venture between Jianghuai Automobile and Volkswagen China. It was established in December 2017, formerly known as Jianghuai Volkswagen Co., Ltd. at the beginning of its establishment, Jianghuai Automobile and Volkswagen China each held 50% of the shares. In December 2020, the shareholding structure of Jianghuai Volkswagen changed, and Volkswagen China transferred some of the assets of the second Jianghuai passenger car factory and changed its name. At the same time, Volkswagen China completed a capital increase for JAC Volkswagen, thus breaking the equity balance at 50:50. According to the agreement signed at that time, Volkswagen will grant 4-5 Volkswagen Group brand products to the joint venture after it owns 75 per cent of the joint venture company; it is expected to produce 20-250000 cars by 2025 and 35-400000 cars by 2029; total revenue is expected to reach 30 billion yuan by 2025 and 50 billion yuan by 2029. The remaining 25 per cent is held by Jianghuai Motor, a proportion that continues to this day.

From the time of its establishment, Volkswagen Anhui has been established for a long time. In the early days of the establishment of Jianghuai Volkswagen, it launched the Sihao brand, covering the market of traditional fuel vehicles and new energy vehicles, but the brand's sense of existence in the domestic market is very low. and the operating condition of Volkswagen Anhui is hardly ideal. According to the announcement, by the end of 2023, the net assets of Volkswagen Anhui were 4.182 billion yuan, compared with 7.005 billion yuan at the end of 2021 and 5.982 billion yuan at the end of 2022.

At present, Volkswagen Anhui has announced the name of its new category-ID.UX point gold, while the first pure electric SUV--ID.UNYX and the public have also been unveiled. ID.UX is a new product line created by Volkswagen in Anhui, and all new cars under this category will use the golden Volkswagen logo. ID.UNYX is the first model in this series, pure electric SUV, known as "Yuzhong" in Chinese, is based on the MEB platform and will be released this year. It is understood that Volkswagen Anhui owns Cupra brand and Volkswagen brand, Tavascan is the model of Cupra brand, which is mainly supplied overseas, while ID.UNYX is the model of Volkswagen brand, which is sister to Tavascan, mainly supplying domestic models.

In retrospect, ID.UNYX is completely different from the ID currently on sale. Model, the new car appearance is more fierce and more aggressive, size, ID.UNYX length, width and height are 4663/1860/1610mm, wheelbase is 2766mm, positioning compact coupe SUV. The power will be equipped with a power system composed of front and rear double motors, with a maximum power of 250 kilowatts and a peak torque of 679 Nm, and a single motor version is expected. In terms of batteries, the car is equipped with ternary lithium battery packs produced by Ningde era.

According to the plan, by 2027, Volkswagen Anhui will launch five smart pure electric models with the golden Volkswagen brand logo, including different categories such as SUV and cars. With the further capital increase of Jianghuai Automobile and Volkswagen China, Volkswagen Anhui will be able to promote the landing of products more quickly. JAC Motors said in a previous announcement that this capital increase will help to further deepen the strategic cooperation between the company and Volkswagen China, help Volkswagen Anhui to enhance its comprehensive strength and anti-risk ability, in line with the interests of the company's shareholders.

As for why Volkswagen Group invested so heavily in Volkswagen Anhui? Volkswagen Anhui is the third joint venture of Volkswagen Group in China. Compared with North and South Volkswagen, Volkswagen Anhui only focuses on the R & D and production of new energy vehicles. It is the first joint venture of Volkswagen Group in China to focus on the production of new energy vehicles. "Automotive Industry concern" believes that Volkswagen China has greatly increased the size of Volkswagen Anhui. It may be related to the current changes in China's electric car market and the performance of Volkswagen Group's electric vehicle sales in China. Since 2023, Volkswagen Group has begun to accelerate the process of electrification, especially in the Chinese market, but its performance in China's new energy vehicle market is also not satisfactory. Data show that Volkswagen sold 2.3986 million vehicles in China in 2023, an increase of 0.1 percent over the same period last year, including 190100 new energy vehicles, an increase of only 5.2 percent over the same period last year, a big gap compared with China's own brands.

Even if Volkswagen Group continues to make new moves in China, Volkswagen Group is also under great pressure under the impact of independent new energy vehicle companies. Today, China has become the world's largest market for new energy vehicles. For Volkswagen, the Chinese market is very important, which is the main reason why it continues to deepen the Chinese market. According to the plan, Volkswagen Group will launch at least 30 pure electric models in the Chinese market by 2030, when it will become the top three car companies in China. However, in the increasingly complex competitive environment, Volkswagen may have to speed up its run in China, and Volkswagen Group still has a long way to go on the road of new energy in China.

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