11.6 billion acquisition of Zotye, will invest heavily in research and development of new energy vehicles
In 2016, Zotye Motor launched a variety of models including the T600 Sport Edition, SR9, and the New Damai X5. The annual sales volume reached 333,100 units, and it entered the top ten sales of Chinese brands. On the other hand, the actual controlling shareholder of Zotye Auto, Tieniu Group, and its listed company, Huangshan Jinma Co., Ltd. (hereinafter referred to as Jinma), have tossed another year for the acquisition of Zotye. Netcom was informed by the China Securities Regulatory Commission that the acquisition of Zhongtai by Jinma shares was conditionally approved. Jinma shares will spend RMB 11.6 billion to acquire Zotye Motors, and will raise up to RMB 2 billion to continue to increase investment in research and development of new energy vehicles.
At present, the main business of Jinma is the manufacture of auto parts, instruments, wiring harnesses and other components. After the completion of the merger, the existing products of the listed company will fully enter the Zhongtai Auto supporting system, and will expand the business of auto manufacturing, automobile sales and after-sales service. The core competitiveness of the terminal products and market share are expected to further increase, which will form an interaction between the component business and the vehicle manufacturing business.
After the completion of the acquisition, the two parties will jointly develop automotive electronic and electrical products, including automotive bus (CAN, LIN), drive anti-skid system (ASR), electronic stability control (ESC direction angle control VSC), tire pressure monitoring system, automotive electronically controlled suspension System, electronic parking control system (EPB electronic parking system), automatic parking, car self-diagnosis system and other products; grasp the direction of automobile development, develop automotive adaptive cruise system (ACC), assisted driving system (car PC), automatic Intelligent products such as driving (unmanned) systems, as well as pure electric vehicle drive motors and control systems, power batteries and control systems, and vehicle control systems.
According to the supplementary terms of the acquisition, Jinma will raise up to 2 billion funds to the additional shareholders according to the shareholding ratio, which will be used for new energy technologies - new energy vehicle reducers, motor and motor controllers, power batteries, vehicle controllers, Research and development in core areas such as charging, extended range and power exchange, and the construction of trial production and testing technology centers, covering product trial production, product testing (including complete vehicles, systems, assemblies, components, materials, etc.).
Zhongtai Auto's cumulative sales in 2016 reached 331,100 units, a 50% year-on-year increase compared to 226,600 units in 2015. In 2017, Zotye will launch seven models and challenge 400,000 sales targets.
Zotye Motors 2017 new car planning
Model positioning time
Damai X7 medium SUV first quarter
T700 medium SUV during the year
T30 compact SUV
New Z300 compact sedan
New Z500 midsize sedan
A40MPV
SR7 EV pure electric SUV
Tabulation: Netcom Internet Info Agency
It is understood that Zotye will launch three new SUV models such as T300, T700 and Damai X7 this year. In the field of cars, Zotye will also upgrade the Z300/Z500. In the face of the increasingly hot MPV and new energy market, Zotye has also made corresponding plans. Zotye will launch the first MPV models this year - A40 and SR7 pure electric version and other new models.
In addition, Zotye will launch a platform-based strategy and gradually promote an integrated platform. It is understood that the development of Zhongtai integrated platform will be divided into four steps: the functional components of the whole vehicle - the serial design of each module - the development of integrated platform technology, the ultimate goal is that all models are developed in an integrated platform. . At present, Zotye has completed the combing of the resources of the two vehicle platforms and gradually promoted the technical development of the integrated platform as planned.
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