Gan Wenwei: If you can, willing to accept Wuling's equity transfer


On September 24, General Motors held the "Direct 2030" campaign of General Motors in Shanghai. At the event, General Motors announced the formal establishment of the General Motors China Academy of Sciences. At the same time, GM also officially launched the company's World Expo site at this event.

Recently, the GM Guangxi sedan project has attracted much attention in the industry. When asked about the extent to which the negotiation agreement with the Guangxi government on equity transfer progressed, Gan Wenwei answered witly: "GM is satisfied with the current equity structure of SAIC-GM-Wuling, if the other party is willing to transfer more shares to GM, Then we will be very happy to accept it." However, Gan Wenwei did not clearly specify the specific progress of the negotiations, saying only that "the specific details are currently inconvenient to disclose." Compared with SAIC-GM-Wuling’s very good profitability, increasing its stake in the joint venture company is a move that the General China strategy must take.

At the same time, from the perspective of Gan Wenwei’s tone, we can clearly point out that the negotiations on the exchange of sedan-for-salon items with the Guangxi government are still in progress. It will probably take some time before the agreement can be signed. Because it was learned from SAIC-GM-Wuling officials that the preliminary preparations for SAIC-GM-Wuling’s autonomous sedan project were already in place. The research and development of the compact mid-size sedan with the internal codename GP50 is in full swing. The production model will be in 2010. It was officially launched at the end of the year or at the beginning of 2011, while technology was mainly derived from the Pan-Asian platform. Previously, the industry’s rumors of cooperation between the two parties were that GM directly imported car products to meet the Guangxi government’s dream of a car after it purchased a 15.9% stake in Wuling at a low price. However, from the current status quo, product introduction is likely to become a technical input, and then SAIC-GM-Wuling launches the follow-up sedan model in the name of its own car.

GM's product layout in the Chinese market has always been very clear, with sedan products on Shanghai GM, while light commercial vehicle products will be introduced into the newly established FAW GM. If sedan products were to be diverted to SAIC-GM-Wuling, the development of GM in the Chinese market would not be the best solution. The sales network of cars would become confusing. At the same time, GM also has to examine the feelings of its partner SAIC. Once GM really used technical input to support SAIC-GM-Wuling’s research and development of autonomous cars, making them “self-reliant” is undoubtedly the best of both worlds.

It is reported that GM has previously reported that it wants to integrate Chevrolet's sales channels in China, put Shanghai GM Chevrolet on sales channels in first-tier cities, and SAIC-GM-Wuling’s well-developed second- and third-tier market channels to implement grafting and complete Shanghai GM quickly. Channels sink and expand. This is what SAIC expects.

Since the activities of the day mainly focused on the establishment of the General Research Institute and the launch of the Expo website, Gan Wenwei simply brought with him a simple official answer to questions that were not entirely "problematic". However, we will continue to pay attention to the General Motors Guangxi car project.

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