SAIC Commercial Vehicles' New Base Announces Successful Acquisition of Xinya Tu

According to the South-South cooperation agreement signed at the end of last year, Shanghai Automotive will soon complete the acquisition of Nankai Wuxi Xinyatu Branch (hereinafter referred to as “Nanjing Xinyatu”). Shanghai Automobile disclosed that after the inclusion of Shanghai Automotive, SAIC Xinya will be built by Shanghai Automotive as the fifth largest commercial vehicle production base after Shanghai, Nanjing, Yizheng and Chongqing. Prior to this, Nanjing Xinya Road had always been a production base for SAIC's cars and utility vehicles, including Ingle, Unocal and Xinya Tu.

Xinya will include SAIC

Recently, there have been news from time to time in the industry that SAIC Motor will acquire SAIC New Asia Way. Last week, Shanghai Automotive related sources disclosed to reporters that SAIC Motor’s acquisition of Xinya Tu is not really a “news” because as the assets of NAC’s vehicle, according to relevant cooperation agreements signed by SAIC and NAC at the end of last year, NAC’s new Yatu has been destined to be included in Shanghai Auto's “underarms”. According to the Shangnan Cooperation Agreement, the former SAIC Automotive business will be fully integrated into SAIC Motor, in which the entire vehicle and tight parts assets will enter SAIC Motor’s SAIC Motor, and other parts and service trade assets will be entered into a joint venture between SAIC Motor and Yuenan Automobile. Donghua company. At the time of the signing of the agreement, Nanjing Automotive held a 20% stake in Nanjing Xinyatu.

According to informed sources, at the end of May this year, relevant leaders of the government of Wuxi Huixi Development Zone in Wuxi City and Wuxi and the related leaders of SAIC and SAIC once again met in Wuxi. The theme of the talks was to speed up the progress of Shanghai Auto's acquisition of Xinya Tu, and initially determined that a memorandum of understanding will be signed in the near future. Sources also stated that SAIC Motor will seek to obtain 100% of the equity of SAIC Xinya Road. After fully holding SAIC Xinyao, SAIC Motor intends to relocate its Shanghai Huizhong commercial vehicle Istana to SAIC Xinya. Way production.

According to statistics, Nanya Xinyatu was established in March 2003 and is located in Wuxi Huishan Economic Development Zone. In August 2006, the 40% shares of Nanchang Xinyatu held by Nanjing Automobile were transferred to Wuxi Weifu, and 28% of the shares were transferred to Jinnan Group, a Wuxi private enterprise. Before the merger with SAIC at the end of last year, Jinnan Group also acquired 40% equity of Nanjing Xinya Road, a vehicle held by Wuxi Weifu, and became a major shareholder with 68% of Nanjing Xinya Road.

Wuxi into a new base for SAIC commercial vehicles

The reporter learned from related channels last week that Shanghai Automotive will acquire Xinya Road 100% through the acquisition of shares of Jinnan and Nanqi Group and free increase in the equity of Huishan Economic Development Zone Development and Construction Corporation. After fully owning Xinya Road, Shanghai Automotive will be the fifth commercial vehicle production base after Shanghai, Nanjing, Yizheng and Chongqing. It is understood that after the launch of the Shangnan Cooperation, the existing "short board" of commercial vehicles for Shanghai Automotive was rapidly supplemented by Nanjing Automobile. At present, in terms of heavy commercial vehicles, Shanghai Automotive already has two bases, namely Shanghai Huizhong and Chongqing SAIC Iveco. In terms of medium and light commercial vehicles, SAIC Motors already owns NAV Iveco. In terms of passenger cars, SAIC Motor also owns Shanghai SAVO. And Shanghai Huizhong two bases.

The reporter learned from Shanghai Automotive last week that after Shanghai Cooperation, Shanghai Automotive further increased its investment in the commercial vehicle sector. It not only established the Commercial Vehicle Division and Commercial Vehicle Technology Center, but also did a good job in the production capacity reserve. adequate preparation. The Shanghai Auto Group official disclosed last week that after the acquisition of Xinyao, the Wuxi plant will be built into a new commercial vehicle base under the strategic plan of the Commercial Vehicle Division.

View related topics: SAIC commercial vehicle expansion

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