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The ups and downs of the Dongfeng Renault joint venture will eventually turn into fruition.
On November 18, Dongfeng Renault related sources revealed to reporters that after the Wuhan Base passed the approval of the environmental protection ministry of the Ministry of Environmental Protection in May and the joint venture company obtained approval from the State-owned Assets Supervision and Administration Commission of the State Council, the Dongfeng Renault project has passed the approval of the National Development and Reform Commission. This means that the Dongfeng Motor Company's "Golden Triangle" strategy developed with the Renault-Nissan Alliance will finally take shape.
“As soon as Dongfeng Renault opened this front, under the overall framework of Dongfeng Group, Renault and Nissan can fully realize synergies in the Chinese market based on the accumulated experience and capabilities of Dongfeng Nissan’s 10-year joint venture.†The above sources said.
Dongfeng Renault related sources, Dongfeng Renault has announced this news internally on the evening of November 15, but the specific date of the foundation stone laying ceremony and formal signing ceremony of this project needs confirmation after the NDRC officially issues the relevant documents. The project construction and related work will be promoted according to the original plan.
"Golden Triangle"
“The formal approval is expected to be available in a week or two. The formal signing ceremony is expected to be held this year.†The Dongfeng Renault source said to the Daily Economic News reporter.
For Renault, China is the biggest hope. According to data from the European Automobile Manufacturers Association, Renault’s market share in Europe fell again to 9.1% last year after falling by one percentage point to 10% in 2011. However, the growth rate in the Chinese market was significant. Last year, the sales volume reached 29,700 units, a record high, which was a year-on-year increase of 22.4%, which was much higher than the average growth rate of the industry.
“Dongfeng is the most widely used car company in China. It has more experience in management capabilities, strategic grasping of joint venture projects, and operation.†Insiders believe that Dongfeng will be a strong future for Renault. Support power.
“The Dongfeng Renault front has opened up, and the future Dongfeng and Renault-Nissan alliances can be said to be pro-inclusion. After the formation of a triangular alliance with Dongfeng, Renault and Nissan, the three parties will make strategic arrangements for some regional markets. Multi-party cooperation can also do more with less," said Dongfeng Renault relevant person told the "Daily Economic News" reporter.
Over the past few years, the Renault-Nissan Alliance has achieved good results in resource sharing in terms of global procurement, capacity utilization, and technology applications. The annual savings have reached US$3.5 billion. According to Carlos Ghosn, president and CEO of Renault-Nissan Alliance, there is still more room for such cost reduction. Therefore, Ghosn’s feelings of spurring the east wind and renewing the “Golden Triangle†plan are once again highlighted.
“In the future, sales channels for imported cars and domestic models will be jointly managed by the joint venture company. Optimizing efficiency to the maximum is the basic principle for maximizing mutual benefits. At this point, Dongfeng and Renault-Nissan already have a consensus.†Dongfeng Renault People told reporters.
At present, Dongfeng Nissan, another joint venture between Dongfeng and the Renault-Nissan Alliance, is developing faster in China than many domestic joint ventures launched during the same period. This is also seen as a reference that Dongfeng Renault can draw upon.
"From the Dongfeng Nissan model, we can see that the joint venture itself can also be a development subject. Realizing the maximization of the interests of both parties will be the core spirit and criteria for the development of Dongfeng Renault." The Dongfeng Renault said.
"Electric vehicles have always been Renault's strengths. Renault, unlike other companies, will emphasize the integration of corporate culture and the openness of resources between the two parties." The above-mentioned Dongfeng Renault expressed implicitly that this strength of Renault and the current national efforts to promote new energy The automotive industry background is consistent. At the same time, for the Dongfeng Motor Company, which excels at and emphasizes the "joint-funding and self-reliance", the new joint venture company will also launch its joint venture independent products in the future.
The Dongfeng strategy behind the new joint venture
“The approval of Dongfeng Renault's project is also good news for Dongfeng. Among them, the important advantage is that Dongfeng integrates international resources and will play a role in influencing Dongfeng’s self-determination strategy.†A person from Dongfeng Motor Co., Ltd. The reporter said.
According to reports, the future Dongfeng and Renault's new joint venture company, its financial statements are expected to merge into the Dongfeng Group shares (00489, HK), which will play a role in boosting the latter's revenue performance.
In addition, the improvement of the over-reliance on the operating structure of the Japanese joint venture brand is also the work that Dongfeng Motor Corporation has been advancing. At present, the two Japanese joint ventures, including Dongfeng Nissan and Dongfeng Honda, contributed more than half of the Group's sales and profits. Therefore, the trend of Japanese cars has become an important factor in determining the overall performance of the Group. Dongfeng Group's financial report showed that due to the decline of Japanese cars in 2012, Dongfeng Group's sales revenue was 124.036 billion yuan, a decrease of 5.6%; net profit was 9.092 billion yuan, a decrease of 13.25%.
In the long run, the growth background of Dongfeng Renault is still based on Dongfeng University’s own autonomy. According to the “Dry†D300 plan released by Dongfeng at the end of 2011, by 2016, its own brand will achieve a production and sales target of 3 million vehicles, and according to Zhu Fushou, general manager of Dongfeng Motor, this year, Dongfeng Motor’s own brand sales are expected to reach 1.35 million this year. Vehicles, up by 22.5 percent year-on-year to 1.12 million. In the next three years, Dongfeng Motor’s own brand business is still to be accelerated.