Joint venture blocked Subaru still values ​​the Chinese market

Although the joint venture application with Chery was frustrated, it did not affect Subaru's determination to realize domestic production in China as soon as possible.

Recently, Subaru President Ji Yongtai announced the Subaru Group's new five-year plan: Before 2016, global sales increased to 900,000 units, including US sales of 350,000 vehicles, launching the XV compact crossover, BRZ coupe and Subaru A hybrid car to expand its user base. And it is explicitly mentioned that Subaru plans to open up a Chinese factory with an annual production capacity of 150,000 vehicles.

However, at present, Subaru's domestic plans have not progressed smoothly. The joint venture plan with Chery has been blocked and has not been approved by the NDRC.

The report said that the main reason for the rejection of the joint venture application by the Chinese authorities was that the project was in violation of China’s current "Auto Industry Development Policy" in which "the same foreign car company can only have at most two joint venture vehicle companies in China". . Although Fuji Heavy Industries does not currently have a joint venture vehicle company in China, it has a close relationship with Toyota.

Toyota Motor currently holds a 16.5% stake in Fuji Heavy Industries and is its largest shareholder and actual controller. The "Automotive Industry Development Policy" stipulates that "companies with a legal personality outside the country have relatively controlled another company and are considered the same foreign company." Toyota Motor Corporation has already established joint ventures with FAW Group and Guangzhou Automobile Group respectively. If Fuji Heavy Industries and Chery Automobile have a joint venture, it will be equivalent to making Toyota have a third joint venture in China.

The industry believes that if Subaru now wants to achieve a domestically effective imitation of Mazda as soon as possible, it will not be able to gain approval for the establishment of a joint venture in China without the absolute control of Toyota. The key to the problem is Toyota's attitude.