The key component auto-research and development capability behind the joint venture is the key

When it comes to automobile joint ventures, we usually think of vehicle companies. But for parts and components, there is little concern.

Last week, it was reported that the National Development and Reform Commission, together with the Ministry of Commerce, issued the "Foreign Investment Industry Guidance Catalogue (Revised Consultation Draft)" to revise the foreign investment policy, and proposed to invest the new energy automobile key spare parts project for foreign investment in China. The proportion is controlled within 50%. This is the first time that China’s competent authorities have clearly defined the equity ratio of joint ventures for key components of new energy vehicles.

In fact, since the beginning of last year, the discussion on the release of the joint venture proportion has begun. The Chinese auto industry has been through reform and opening up for 30 years. Today, it is inevitable that this problem is encountered. However, for the joint venture of vehicle companies, new energy vehicles as China The key points in the strategic planning of the automobile industry, the relevant departments naturally chose to control the joint venture, and maintain a strategic initiative.

Since the reform and opening up, the opening of automobile joint ventures with multinational corporations is actually an important part of "market-for-technology". If there is no control over the joint venture's share ratio, multinational corporations will dominate the joint venture's right to operate. The joint venture's control of key parts and components gave China's newly-initiated new energy vehicles a technical lock and finally became a result of a multinational company's assembly base.

In fact, in terms of core technology, the monopoly of foreign investment in the Chinese auto parts industry is very prominent. According to the 2009 China National Auto Parts Industry Survey and Research of the National Information Center, the top four domestic manufacturers of gasoline electronic control systems are UMC, Denso, Siemens vdo and Delphi Wanyuan, all with foreign investment backgrounds, including UMC’s market. The share of local companies is less than 1%.

Some analysts believe that setting up a joint venture for key components and joint ventures not only sets a threshold for the establishment of new parts and components companies by multinational companies in China, but this limited variety also extends from the core components of new energy vehicles to traditional ones. The common parts of the car.

However, any issue has two sides. In the case of a joint venture, the equity control of the Chinese party's equity is not less than 50%, which means that China will share and dominate the decision on profit distribution. However, if the comparison between Chinese and foreign forces is different, it may lead to different actual control areas and degrees in the actual game, and it is likely that the joint venture shares will become dominant over the Chinese side, but the technology remains controlled by the foreign parties.

It is feared that the domestic enterprises will not use the joint venture to set joint ventures to limit the number of joint ventures, and independent brand enterprises must increase the research and development capabilities and control of key technologies. This is a topic that the industry has been appealing for many years.

The policy given by the state is actually giving Chinese autos a boost in new energy vehicle technology. However, the policy is only binding on joint venture stocks. How to create productivity and R&D capabilities is a matter that companies need to consider.