Great Wall Motor Company Limited(601633) acquisition of GM’s Indian plant extended

Great Wall Motor Company Limited(601633) acquisition of GM’s Indian plant extended

According to foreign media reports, Great Wall Motor Company Limited(601633) extended the acquisition period of GM’s talegaon plant in India for three months to March 2022, and extended the investment period to June this year. This is the second time that the two companies have extended the acquisition period. Previously, the agreement period was extended from the first half of 2021 to the end of 2021. The extension comes as labor disputes between GM and its Indian factories escalate.

first financial review: as early as January 2020, Great Wall Motor Company Limited(601633) proposed to acquire GM’s Indian plant. According to the agreement signed by both parties at that time, the acquisition was originally planned to complete the acquisition process in the second half of 2020. However, due to many factors such as epidemic situation and policy, the project was shelved for many times. Earlier, it was also reported that Great Wall Motor Company Limited(601633) redistributed some investment to the Brazilian market due to setbacks in the Indian market. However, Great Wall Motor Company Limited(601633) denied the news. Due to the large population, the development of Indian car market is full of potential, and many car enterprises have layout in India. However, there are many uncertain factors for car companies to go to sea, so they also face certain risks.

Tesla Berlin plant is approved to produce 2000 test vehicle bodies

According to foreign media reports, Tesla has obtained special approval from the Ministry of environment of Brandenburg, Germany, and can produce 2000 model y bodies before the Berlin super factory is finally approved. Tesla is approved to produce 500 model y bodies per week, so they need at least 4 weeks to produce these car bodies.

a financial review: at present, among Tesla‘s global factories, Shanghai Super factory has played an important role. In 2021, Tesla Shanghai Super factory delivered 484000 vehicles, a year-on-year increase of 235%, of which more than 160000 vehicles were delivered in overseas markets, meeting the needs of more than 10 countries such as Europe and Asia. It is worth noting that Tesla’s global delivery in 2021 was 936000 vehicles, and the proportion of Shanghai Super factory was as high as 51.7%. With the production of the Berlin super factory, Tesla may put some important models in the Berlin factory, which is conducive to the growth of Tesla’s overall production capacity. At present, Tesla ranks first in the global electric vehicle market. With the production of several major factories, Tesla’s sales are expected to further improve.

polar star will deliver 29000 electric vehicles worldwide in 2021

Electric vehicle brand Jixing announced on January 11 that it had achieved the global sales target of 29000 vehicles in 2021, with a year-on-year increase of 185%. In 2021, polar star’s global business expanded from 10 markets to 19, with growth mainly from Europe and Asia Pacific. The number of global retail outlets of Jixing exceeded 100, more than doubling; It is expected that by the end of 2022, this number will increase to 150. In the next three years, Jixing will launch a new model every year.

Yicai comment: Jixing is an electric vehicle brand jointly established by Zhejiang Geely Holding Group and Volvo cars in 2017, positioned as a high-performance electric vehicle brand. At present, Jixing has two models on sale, one is a plug-in hybrid coupe polester 1 with a price of up to 1.45 million yuan, and the other is a pure electric vehicle polestar 2 with a price range of 252800-338000 yuan. Not long ago, polar star released the preview of polar 3 SUV, which is expected to be launched in 2022. Polar star performs slightly better in Europe, but its performance in the Chinese market is not optimistic. It takes Tesla as a competitor, but there is a big gap with Tesla’s market performance. Thomas ingenlath, CEO of Jixing, once said that the sales volume is expected to reach 29000 this year. With the introduction of more new cars, its global sales will increase tenfold by 2025.

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