Yesterday, the reporter learned that Weichai Power (2338.HK) is planning to acquire Delphi’s North American assets.
This is also the third Chinese car company interested in Delphi’s overseas assets after Wanxiang Group and Dongfeng Motor. This indicates that the process of internationalization of Chinese auto parts manufacturers will accelerate.
Yesterday, the reporter called Jiang Jian, deputy general manager of Delphi Automotive China. He said that it was inconvenient to disclose the non-core asset divestiture negotiations in North America.
Xu Xinyu, general manager of Weichai Power, acknowledged that Weichai Power is interested in Delphi Corporation’s North American portion of assets for bankruptcy protection because Delphi’s technology is one of the best technologies in the industry. Delphi is also one of the world’s top three component suppliers.
Delphi Corporation stripped six non-core businesses: brakes and chassis, catalysts, cockpits and dashboards, door modules and door locks, steering systems, and wheel bearings.
Although Weichai Power did not disclose its interest in any of Delphi's assets, Bai Lixin, chief consultant of IBM Global Service Business Consulting Services Business Strategy, said that there are few independent diesel engine companies, whether domestic or international, and Weichai Power. The direction of development can only be to build a universal power manufacturing base. Weichai Power's automotive products are too betting on heavy-duty diesel engines.
Industry analysts believe that currently the main business of Weichai Power is too concentrated, and the market share of heavy-duty vehicles with 15 tons and above and 5 tons of loaders in the mainland has reached 73% and 75% respectively, and medium-speed diesel engines also account for more than 80% of the market. Mainland market share. Once this market is in turmoil, it will have a greater impact on Weichai's power.
The North American market also looks to China's other parts giants. Wanxiang Group, China’s largest private parts and components company, has long been eyeing this market and is currently negotiating with Delphi in order to acquire assets related to the steering system. The Wanxiang Group was considered by Weichai Power as China's biggest competitor.
Xu Xinyu said that the company may conduct some international mergers and acquisitions next year, and even acquire related assets of overseas companies.
At present, Weichai Power has discussed cooperation with international industrial giants Volvo and German Mann. Xu Xinyu said, "If it is 1 year ago, Weichai Power may cooperate with these companies and may be limited to engines, but now Weichai Power can cooperate with these companies in many aspects."
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