China's auto parts industry "big boss" --- Wanxiang Group intends to negotiate the purchase of the world's second-grade parts industry - Delphi's assets, thereby further accelerating its "auto parts world manufacturing center" goal. Yesterday’s news from the United States stated that Wan Guanqiu, chairman of Wanxiang’s Board of Directors, stated that the company intends to acquire the assets of Delphi’s bankruptcy protection in the United States. Ni Mai, president of U.S.-based U.S., also said that Wanxiang is interested in acquiring some of Delphi’s assets that were in financial crisis. However, Wanxiang will likely face industry bidders in countries such as India. Wanxiang was interested in some of Delphi's assets. In an interview with reporters, related people of Wanxiang Group stated that because of the commercial operations of the company, it is not convenient to publish information. Jiang Jian, deputy general manager of Delphi Automotive Systems (China) Investment Co., Ltd., said that Delphi China does not know that Wanxiang is negotiating acquisitions with Delphi. However, he said that because the product line adjustment is already in the Delphi plan, it will not be ruled out in the future that some of the production lines will be sold to bidders including Chinese companies. Ni told the U.S. media yesterday that it is still too early to discuss whether it can eventually acquire some of Delphi’s assets. Although Wanxiang Group is very interested in acquiring some of Delphi’s assets that were in financial crisis, it is not currently available to disclose more information. He stated that Wanxiang Group is still not very clear about what kind of assets Delphi has for acquisitions, nor does it have enough information to make judgments. However, this person said that Wanxiang Group is interested in acquiring any assets that the first-tier or second-tier auto parts makers in the United States and the Group are supporting. In addition to Delphi, Wanxiang Group is also negotiating with other U.S. auto parts makers on the acquisition of their assets and business, some of which are close to final agreement.
According to data from the National Bureau of Statistics, Wanxiang Group achieved sales revenue of RMB 20.8 billion in spare parts last year and became the industry leader in China. In accordance with Lu Guanqiu's idea, Wanxiang will ultimately develop its goal of “integrated supplier of auto parts world manufacturing center and system componentsâ€. Indian companies join the bidding business Once Wanxiang Group decides to negotiate with Delphi, it will likely face many competitors from around the world. Delphi has announced that it is ready to sell its automotive battery business for $202 million. This huge spare parts giant has already decided to sell more non-core businesses and released the news during the year.
News from India last month stated that in order to avoid bankruptcy, Delphi may sell a substantial portion of its assets to several Indian companies. According to foreign reports, the Sonar Group, headquartered in Delhi, India, has been seeking to acquire Delphi's control systems division in the United States, and at least two Indian companies have claimed interest. Previously, the industry rumors that the world's largest supplier of spare parts - Bosch will help Delphi. However, the company’s global leader made clear during an interview with reporters last month that he would not consider the acquisition of Delphi’s business. (Editor: Fang Fang)