Sanjiang Space does not participate in shares: Dongfeng Renault's 7.2 billion joint venture project is located in Wuhan


The desire of Dongfeng and Renault to establish a joint venture company has been hampered by Sanjiang Renault. From the intentions of both parties in 2004, the current project has been completely set for the past eight years, with many twists and turns. According to sources close to Sanjiang Renault, the current disputes have been roughly clarified: “Dongfeng Renault purchased Sanjiang Renault, Sanjiang Renault transferred the automobile production qualification to Dongfeng Renault, and Sanjiang Aerospace Group withdrew from vehicle manufacturing to become a supplier of Dongfeng Renault. make up."

"Sanjiang Aerospace Group, the controller of Sanjiang Renault, will certainly not become a shareholder of Dongfeng Renault." An informed source close to Sanjiang Renault disclosed to this reporter on December 28 last year.

Dongfeng Renault, which has straightened out the relationship, has now entered a substantial advancement phase. On December 19 last year, the environmental protection departments of Hubei and Wuhan governments issued environmental assessments at the same time. It was learned from the announcement that Dongfeng Renault has settled down in the Golden Port of Hanyang District, Wuhan, with a total investment of 7.2 billion yuan and an annual production capacity of 150,000 vehicles.

However, the project has not yet been approved by the National Development and Reform Commission. Dongfeng Motor Group is also quite cautious. “The project is in the process of actual promotion, but the specific details are still not disclosed,” its internal sources said.

Sanjiang Aerospace withdrew from joint venture

At the end of 1993, Renault and China Sanjiang Aerospace Group established Sanjiang Reynolds in Xiaogan City, Hubei Province, and the two sides respectively held 45% and 55% shares. However, it was not smooth during the business process. In the eight years after it was put into production in 1997 and until 2004, Sanjiang Renault sold only 4,000 cars. Since then, Sanjiang Renault was forced to stop production.

In the same year, Renault "did not love" and contacted Dongfeng Motor in the hope that it could form a Dongfeng Renault joint venture. However, Sanjiang Renault became the main drag on Renault’s re-establishment of a joint venture company. Due to the pressure of all parties, Dongfeng also seemed to be evasive for Renault’s “pursuit”, and the joint venture between the two parties dragged on for another eight years.

In the past two years, Dongfeng's goodwill towards Renault began to appear on the table. However, the National Development and Reform Commission stated that in order to obtain new joint venture production qualifications, Renault must first arrange Sanjiang Renault, which has been out of production for many years.

The negotiations between Renault and Sanjiang Aerospace Group on Sanjiang Renault resettlement started as early as 2011. In order to clarify the ownership, Renault sold its 45% stake in Sanjiang Renault to Sanjiang Aerospace Group in the same year, and the talks also achieved breakthrough progress. Renault-Nissan joint CEO Carlos Ghosn therefore also boldly revealed plans at the Beijing Auto Show in April 2011: “Renault will achieve Chinese production by 2016.”

According to the above-mentioned informed sources, there were three options for Sanjiang Aerospace Co., Ltd.: First, all Resellers of Sanjiang were resold to Dongfeng Renault, taking money to leave. This approach will allow Sanjiang Space to completely abandon its automotive industry, which has been sticking to its many years, and Sanjiang Space will basically not consider it. Second, Sanjiang Aerospace will directly enter shareholders' equity Renault and set up a three-way joint venture. This model is undoubtedly its most tempting, but also "fear of losing power under the attack of the two strong shareholders of Dongfeng and Renault"; the third way is that Renault spends money to purchase Sanjiang Renault, and Sanjiang Aerospace delivers "shell resources". At the same time, it will become the accessory supplier of Dongfeng Renault.

It is reported that Sanjiang’s aerospace industry tends to favor the third way, not only withdrawing from the auto industry chain, but also having autonomy in its development and not subject to human control.

"The two sides achieved a breakthrough in this incident." The above-mentioned sources did not disclose specific details, but on December 19 last year, the name of the "Dongfeng Renault Automobile Co., Ltd., 150,000 vehicles is now on the website of Hubei Provincial Environmental Protection Agency and Wuhan Environmental Protection Bureau." "Public vehicle construction project environmental impact assessment information disclosure" publicized the disclosure of project-related information, revealing that the project entered the administrative approval stage after the two parties negotiated.

According to the document, the Dongfeng Renault project is located in Huangkoukou (the west side of the Sanhuan Road and the south side of the Hancai Expressway) in Hanyang District, Wuhan City, Hubei Province. The project mainly consists of a stamping press shop, a welding shop, a paint shop, and a resin workshop of the final assembly shop. And engine production workshop, as well as R & D center, supporting public and auxiliary environmental protection projects. Annual production capacity is 150,000 passenger vehicles (including vehicle and engine).

Renault is in a hurry

The debt crisis in Europe is still difficult to see the complete release of the light. Renault has been hit hard in the local market. In November 2012, its sales in the French market decreased by 34% compared to the same period in 2011, and its market share also fell to 23.3%.

Carlos Ghosn is eager to find another support point in the fastest-growing Chinese market. The downturn in the European market has accelerated Renault's Chinese production. In addition, another reason is that due to tight Sino-Japanese relations, Nissan’s sales in China have been hit hard. Ren Yong, deputy general manager of Dongfeng Nissan and also a member of the Dongfeng Group, Ren Yong also said recently: “Nissan’s sales in the Chinese market are affected. Renault-Nissan is accelerating the pace of development of Renault in the Chinese market to get rid of the flaws of Japanese brands in the Chinese market to make up for market gaps."

Another joint venture partner, Dongfeng Group, also placed great hopes on Dongfeng Nissan, recognizing that in 2011 it will become its first joint venture company with annual sales of more than one million vehicles. However, sales under the influence of “force majeure” have fallen sharply, making the entire Dongfeng Group also added a bit of sadness to how to maintain China's "second throne." Dongfeng must find new strength to supplement. From this point of view, Dongfeng and Renault-Nissan alliances have "coexistence and retreat" in the Chinese market.

In fact, the news came out at the end of November 2012. Dongfeng Renault has reported the project to the National Development and Reform Commission, the Ministry of Commerce, and the Ministry of Industry and Information Technology, waiting for a piece of paper approval from relevant departments. Industry analysts believe that if the settlement of Sanjiang Renault has been properly resolved, then Dongfeng Renault will soon get approval.

“Dongfeng Renault agreed that the original Sanjiang Renault will be its supporting business.” The above sources said, but it did not completely comply with the intention of Sanjiang Aerospace. Initially, Sanjiang Space hoped to use the technical support of Dongfeng and Renault by transforming the original Sanjiang Renault plant. Established an engine plant and transmission plant for Dongfeng Renault.

Although the original Sanjiang Renault plant had the entire vehicle production and assembly process, the scale of the factory was not large, and it was located within the Sanjiang Space Group base. After many years of production shutdown, the production equipment was not depleted. "With the help of Dongfeng and Renault, it is still feasible to transform into a component factory."

However, according to the documents published by the environmental protection department, the engine workshop and the four major car workshops will be placed in the Wuhan Golden Port project, instead of Sanjiang Space hopes to be located in the production base of Xiaogan Sanjiang Space Group, which is located 60 kilometers away from Wuhan.

Even so, it can be confirmed that the relationship between the three parties has been straightened out and Sanjiang Aerospace has not raised any objection. The responsible person who stayed in the Sanjiang Reynolds Company that had been discontinued for many years had earlier started to recruit technicians and management staff again. Re-start production. "In fact, the details of the cooperation have already been settled, but because there is a confidentiality agreement, it cannot be disclosed too much," said the above sources.

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