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After SAIC had to withdraw its 20% stake in Chery for nearly a year, Chery finally took off the word “Shangqi†before the name, thus announcing the official end of the four-year marriage between SAIC and Chery Automobile. According to an announcement issued by the National Development and Reform Commission on September 23, it is agreed that SAIC Motor’s Chery Automobile Co., Ltd. has been included in all products of the “Announcementâ€, and the company’s name has been changed from “Shangqi Group Chery Automobile Co., Ltd.†to “Chery Automobile Co., Ltd.â€. The plant identification code was changed from "LSJ" to "LVV". Chery Motors officially obtained the car production qualification after it inherited the sedan production catalog of SAIC Chery. SAIC Motor Group issued an official statement on September 30, confirming that the Shangri-La Chery Lao Yan’s flight is a foregone conclusion. In fact, SAIC Group had officially withdrawn 20% of its shares from Chery as early as last June and signed an agreement in August of the same year. However, the agreement provided for a period of confidentiality. During the period of confidentiality, both parties shall not announce the matter to the outside world. The two sides shall maintain "separation." But not divorced" state. Previously, Hu Maoyuan, President of SAIC Group, explained that "We would like to help Chery go a little longer." At that time, there was widespread speculation in the industry that Chery may still need the reputation of SAIC and hope to rely on this tree to grow and expand. It seems that what Hu Maoyuan said at the time was the intention of helping Chery to go a long way. In fact, it was a matter of time for Chery to apply for a car production qualification. At the end of 2000, SAIC acquired 20% of Chery's shares. It was the beginning of a new round of domestic automobile reorganization. Why does it have to "participate in ways?" As the saying goes, freezing three feet is not a cold day. The reasons and background for SAIC Motor’s withdrawal from Chery are quite complicated, but the problems are mainly caused by the increase of shares and product disputes, which has caused the unhappiness of the two companies to surface, and the four-year “marriage†has finally come to an end. Adding shares: SAIC ate a closed door as a black horse in the Chinese auto market. Chery’s take-off was inseparable from SAIC. Anhui “Chery†is a complete vehicle project that has not been approved by the state. It started in 1997 and was completed in 2000, with an investment of nearly RMB 1.7 billion. However, because there was no product "life permit", Chery was unable to sell in the national market. Under the coordination of the relevant ministries and commissions of the country and the governments of Shanghai and Anhui, at the end of 2000, SAIC received a 20% stake in Chery and included Chery in SAIC's banner. After that, Chery entered the national product catalog and began to sell in the country. Chery's development is really eye-popping. With its generous shape and low price, Chery has a good market for about 100,000 yuan. As the country’s largest auto group, SAIC Motors is certainly not willing to occupy only 20% of Chery’s shares. Since 2001, it has started negotiations to obtain more shares and become its controlling parent company. Incorporate SAIC's overall development strategy and add momentum to the Sprint 500. However, the issue of share increase has encountered great difficulties. It is understood that SAIC executives have gone to Anhui several times, but negotiations have been difficult and they have returned empty handed. There are different opinions about the reasons. One view is that since the signing of the contract in 2000, SAIC was not optimistic about the future of Chery, and agreed with Chery on the "four non-principles": no investment, no participation in management, no debt, no dividends, in order to avoid backing Chery. This baggage. Unexpectedly, Chery was making a good deal of it. Under such a good situation, it also proposed to increase its shares. Chery's other shareholders are naturally not happy. Another argument is that in Chery's view, the benefits of SAIC Holdings are not much, but the trouble can be clearly imagined. Many practical issues such as the interests of shareholders and local interests must be entanglements. However, relevant persons of SAIC stated that at the time of signing, the possibility of adding shares was never ruled out, and there was an agreement of “waiting for a period of time before adding sharesâ€. Later, SAIC made a lot of communication work on the issue of share increase. And hard work, but no effect. The issue of equity has made the "marriage" of more than two years unpleasant. The relevant person of SAIC Group once disclosed that although SAIC gave Chery great support for its technology and products, Chery not only did not incorporate product sales and production plans into the SAIC system, and sometimes the board of directors or important meetings did not notify SAIC. In the past two years, SAIC has failed to provide statistics on the total production, sales, or export volume of SAIC Chery's production, sales, or exports. SAIC hopes that Chery will truly become a member of the big family, instead of migrating and adhering to it. At this point, SAIC Chery looks like he is starting to show Ni Duan. Chery: SAIC's two major foreign partners have not only failed to increase shares, Chery and SAIC main products have also been in conflict, the different products of Chery sedan SAIC Motor’s two major foreign partners - Germany Volkswagen and the United States . Since some of the hundreds of parts and components companies supporting Shanghai Volkswagen are also providing parts and components for Chery, some parts of the Chery cars can be replaced with parts from Santana. The German public is very annoyed by this. He had intentionally sued Chery to the court. SAIC Group had been mediating about this and was very sad. The Chery sedan quickly won the market at a price lower than that of Santana, and seizing some market share in Santana also made German public very unhappy. Chery's new car QQ is also one of the fuses, this model has not been listed on the controversy, QQ off the assembly line, the industry rumors QQ suspected of plagiarizing the General Motors products, a former Korea Daewoo mini-car MATIZ. Chery firmly denied it and claimed that Chery had full intellectual property rights for QQ. For this purpose, GM China Company organized the “Chevrolet SPARK R&D Interpretation†event in Shanghai. It is intended that consumers will be aware of the seven potential hidden dangers of vehicles produced solely through the use of parodies and claim that GM will receive sufficient evidence and will Take further measures. The dispute between QQ and Chevrolet SPARK is not yet over. It is reported that Chery's second model once again infringed on the generic model's patent rights. GM investigated whether Chery sedan "Oriental Son" imitated the GM Magnus sedans. They said they noticed similarities in their designs. This made General Motors extremely dissatisfied with Chery, and industry experts analyzed that parts events and QQ plagiarism incidents are just a fuse. The intention of the international auto giants is very clear, which is to curb the development momentum of Chery too fast, because Chery is not just The domestic market occupies an important market share, and it has already started to export in bulk (this year has been China's largest number of cars exported). It is clear that the rapid development of Chery has affected competitors, and this move is only a matter of consideration for specific models. Is it still hidden? Market watchers are inclined to the latter. They believe that SAIC and Chery have many disputes over their shareholdings and many other aspects. The incident highlights that the two parties are more alienated. Informed sources said that the Chery company board has never formally discussed the relationship between Chery and SAIC in the future, which shows that the company did not fundamentally consider itself part of SAIC. If SAIC wants to control Chery and it is not allowed, Chery can use SAIC's power to make its own decision. This transaction is bound to be unsustainable and will inevitably change over time. The biggest possibility of change is that SAIC has withdrawn from Chery. For the sake of “cooperation in the futureâ€, SAIC Motor finally decided to withdraw from Chery. Hu Maoyuan’s remarks are the best comments on the two sub-combinations: “From our perspective has always been such an attitude, in accordance with the conditions of industrial policy, try to restructure our automobile industry through restructuring. In the cooperation, people have different aspirations and the same is true for the company. Cooperation in a period of time is conducive to development, and sometimes it is considered beneficial to everyone, but I think that in the future we will continue to develop through cooperation.†A person from SAIC said to the author a few days ago : "Cerry initially gave SAIC 20% of its shares, and it was more of a fancy to SAIC's marketing channels at that time to get a rapid development." He disclosed that Chery has continuously strengthened itself with changes in the shares of SAIC Motors' sales company. The construction of the network has already begun to prepare for separation. At present, some media claims that SAIC is not based on the idea that Rover and Chery had split up hands together. What's more, individual media claimed that SAIC abandoned its “relative relatives†Chery to be even more innocent. This person analyzed that today's Chery is no longer the "poor relative" of 4 years ago. Not only has it got a firm foothold in the car, but it is also a pillar project in the area. It has already been emboldened and has withdrawn from the SAIC family. It will plummet. At the same time, SAIC has made a statement on how to withdraw from Chery. Previously, there were several speculations in the industry on the way in which SAIC would transfer 20% of Chery shares: One was sold to Chery at a lower price, the other was sold to third parties at market prices, and the third possibility was completely free or Return Chery shares at a very low symbolic price. However, Hu Maoyuan once disclosed that “we have not received any money†and that the SAIC Group is “free to care about the nakednessâ€. Xiao Guopu, vice president of SAIC Group, claimed that: “Where did the shares come from?†Sure enough, on September 30, SAIC Motor Group issued a statement to the media for the first time: SAIC Motor has transferred 20% of the shares of Chery’s previously held company to gratuitous transfer. Transferred back to the original shareholder of Chery, SAIC no longer holds any shares in Chery. At first, Chery gave free gifts, and now SAIC returned free of charge. SAIC is so generous, perhaps foreshadowing what Hu Maoyuan has called "the road to cooperative development." In fact, “every minute and long will be separated†is always the case. Everyone understands this reason. Why bother Chery and SAIC?
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