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Shenlong Auto's joint-venture model will be unveiled after the Spring Festival next year, and the Dongfeng “Shuangfeiyan†LOGO will be affixed. The joint venture will achieve breakthroughs in a certain sense.
Zhu Fushou, general manager of Dongfeng Motor Corporation, visited China Economic Net today and for the first time responded to Dongfeng Group’s shareholding in PSA. “Dongfeng Group and PSA have signed a cooperation agreement to carry out international cooperation in the form of strategic investment. This is an innovative attempt by Chinese auto companies for international joint ventures and cooperation. At present, the results achieved are relatively satisfactory,†said Zhu Fushou.
On March 26, 2014, Xu Ping, Chairman of the Board of Dongfeng Motor Corporation, and Valan, Chairman of the PSA (Peugeot Citroen) Group Management Committee, signed the final agreement to strengthen cooperation. According to the agreement, Dongfeng Motor Corporation will invest 800 million euros in the targeted issuance of shares in the PSA Peugeot Citroen Group, representing 14% of the shares, and it will formally become the largest shareholder of the French government and the Peugeot family.
The two parties signed the agreement more than half a year. What kind of effect did Dongfeng Motor Co., the international cooperation for eating crabs, achieve? What is the actual feeling of Dongfeng Motor Company? General Manager Zhu Fushou gave these questions three aspects. The answer.
First of all, "six months of strategic investment is better than expected." Dongfeng Motor Co., Ltd. has invested 800 million euros in targeted investment through capital forms. "The initial purchase price was 7.23 euros/share. At present, the stock price is maintained at the 11 euro range. From the point of view of the book value of stocks alone, Dongfeng’s share purchase of PSA has no losses. The actual value of strategic investment has not shrunk.â€
Secondly, from the business earnings report released by PSA, in the first half of 2014, the consolidated revenue was 27.6 billion euros, and the income of the vehicle sector was 18.6 billion euros, which was the same as in the first half of 2013. The good news was that the consolidated operating income increased significantly to 4.77. Euros, the operating results of the entire vehicle sector were 7 million euros, and the group’s free cash flow reached 1.514 billion euros.
"Using the words of VP of the PSA Group, Varian, is currently back to the track and the PSA Group is gradually entering a virtuous circle," Zhu Fushou told the China Economic Net.
The last and most important point is that Dongfeng Group's shareholding in PSA is based on a number of framework agreements: it is not simply a capital output, but rather it is in R&D, technology centers, channels, sales, and platform construction. , carry out in-depth strategic alliance cooperation.
"Based on the technical cooperation between Dongfeng Motor and PSA, after the Spring Festival next year, Shenlong Joint Venture's first joint-venture independent model, hanging Dongfeng 'Shuangfeiyan' LOGO, will officially debut." Zhu Fushou said.
According to the cooperation agreement previously signed between Dongfeng and PSA, PSA will accelerate the development of the joint venture company, Shenlong Automobile. Based on the current production capacity of 3 production plants and 750,000 vehicles, it will start the construction of the fourth plant to reach the year of 2020. Production and sales of 1.5 million units.
"In terms of research and development, PSA and Dongfeng Motor have established a common R&D center in China. This work is also underway. It will further help both parties in the field of technology cooperation and exchange," said Zhu Fushou.