Auto parts companies have recently become the main players in overseas mergers and acquisitions
In recent years, with the continuous expansion of vehicle sales in China, the parts and components industry has also achieved an unprecedented momentum of development. However, compared with the level of the international spare parts industry, the gap is still very clear. China’s domestic auto parts companies hope to increase their technological capabilities through overseas acquisitions , and the strategy of breaking foreign companies’ control of key technologies and market conditions is becoming increasingly apparent.
China's auto parts makers are seeking opportunities for overseas mergers and acquisitions to take advantage of the global market downturn to make up for the technological gap with the world's leading companies, so as to meet the strong domestic market demand and ultimately achieve the strategic goal of selling products overseas. Up to now, a number of Chinese auto parts makers have finalized deals for overseas investment. Thanks to the sluggish global industry, more deals are expected to emerge in the coming months.
Recently, from the perspective of recent overseas M&A cases, the main body of overseas M&A is commercial vehicles and parts, such as Beijing Automotive Group’s acquisition of some Saab assets, dealer group Sichuan Bochung’s acquisition of Canadian auto parts dealers, and Ningbo Huaxiang’s acquisition of a German auto parts company. the company.
The global parts and components industry is still quite fragmented, with about 20,000 manufacturers lacking the required investment funds to meet higher quality and emission standards and moving up the value chain. Distressed global auto makers may be seeking to sell parts or All business. It is precisely because of this phenomenon that many Chinese companies eagerly looking for technologies such as engines, brakes, and transmissions are employing investment banks, management consultants and law firms to study possible mergers and acquisitions.
China's auto industry revitalization plan puts forward that for the "autonomy of key components and technologies," the state will invest 10 billion yuan in the next three years as a special fund for the technological transformation and technological upgrading of auto companies. Driven by policies and market demand, some domestic parts and components companies see overseas acquisitions as the path to core technology. According to the analysis, it is difficult for China's auto parts industry to form a comprehensive independent research and development capability in the short term. Technology upgrades require the completion of technology, talents, experience, and capital accumulation. In these areas, the vast majority of domestic parts and components companies are still far from being completed. Rapidly increasing the overall competitiveness of China's auto parts industry through overseas acquisitions is a good way. The overseas acquisition of parts and components companies and the use of the technology of foreign companies for my own use can achieve rapid development in a relatively short period of time. To this end, some domestic parts and components companies are eager to pay attention to the troubled global market, in order to fill the gap with the global industry leaders, so as to meet the domestic demand and ultimately sold overseas.
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